Retirement Plan Administration

When we think about financial planning, we often focus on the big-ticket goals: saving for retirement, funding our kids’ education, building wealth. But what about protecting the income that makes all of that possible?  That’s where disability insurance comes in—and yet, it’s one of the most overlooked pieces of a solid financial plan.  What Is […]

Scan the business news and you will likely find an article detailing the latest 401(k) litigation against a company accused of a fiduciary breach. The litigious trend started with corporate behemoths but has been trickling down to small and mid-size plans.   Adding to this, a survey found that 43% of company fiduciaries don’t actually think

With the mandatory auto enrollment rules set to take effect in 2025, employers need to take proactive steps to ensure compliance and minimize potential disruptions. Understanding the necessary adjustments, staying informed on regulatory changes, and planning ahead will help businesses navigate these new requirements smoothly. Key Steps for Employers   Review Your Current Retirement Plan

The mandatory auto-enrollment rules under SECURE 2.0 apply differently to retirement plans depending on when they were established. Employers need to understand the distinction between pre-enactment and post-enactment plans to ensure compliance and avoid unintended penalties. What Is a Pre-Enactment Plan? A pre-enactment plan is any 401(k) or 403(b) plan that was established before December

The new mandatory auto-enrollment rules bring significant changes, but not all businesses are affected in the same way. Small businesses and multiple employer plans (MEPs) have specific exemptions and considerations that employers should understand as they prepare for the upcoming changes. How Small Businesses Are Affected Small businesses, defined as those with 10 or fewer

The SECURE 2.0 Act of 2022 is bringing some big changes to 401(k) and 403(b) plans, including a new rule that requires most newly established plans to include automatic enrollment. With the 2025 deadline approaching, it’s important for employers to understand what this means and how to prepare. Who Needs to Pay Attention to the

Target date funds are in high demand these days. According to a recent Sway Research study, total TDF assets reached $3.5 trillion in 2023 — a record level. Moreover, mutual fund target dates began 2024 slightly ahead of collective investment trusts, holding $1.76 trillion in assets compared to $1.71 trillion in CITs, TDF assets in

Congress releases SECURE 2.0 technical corrections discussion draft On December 6, 2023, the committees of jurisdiction (the Committee on Health, Education, Labor and Pensions (HELP), the House Committee on Ways and Means, and the Education and the Workforce Committee) released a “discussion draft”1 of proposed technical corrections to the retirement plan-related portions of SECURE Act

Effective retirement plan communications do more than just meet DOL requirements; the best ones engage, educate, motivate, and empower participants. Optimize your communications to connect with employees on a personal level, encourage informed decisions, and foster more active engagement with their retirement plan and their financial future. Effective, empathic communications help build a foundation of

The Automatic IRA Act of 2024 has been reintroduced by Representative Richard Neal, D-Mass., the ranking member of the House Ways and Means Committee. This measure requires companies with more than ten workers to automatically enroll their workers in IRAs or other comparable automatic contribution plans, such as 401(k)s, if they do not currently offer