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The end of the determination letter program and what it means

For the past 15 years, it’s been apparent that the Internal Revenue Service (IRS) wanted to be out of the favorable determination letter business. Over time, the IRS was limiting when they would issue determination letters.   When I first started in the...

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New Year’s Resolution should be a plan review

You know it’s all about New Year’s Resolutions when Target gets rid of the Christmas items and starts offering organization and cleaning supplies. The beginning of the year is about self-care and taking care of things that you either promised or finally ha...

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What all good 401(k) plans have

There are so many articles for plan sponsors (I’ve written quite a few) where they go on and on ab...

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Picking a TPA just on price is one of the biggest mistakes you can make

Many years ago, I started the idea of creating a law firm that intended to be the Wal-Mart of legal ...

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Out of the box only causes trouble

  This is Spinal Tap has the great line that “there is a fine line between being clever and s...

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Avoid the box of gimmicks

I watch a podcast called Something to Wrestle with former WWE creative mind Bruce Prichard and he in...

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Keep it Simple, Stupid

When it comes to drafting plan documents, I always say K.I.S.S.: keep it simple, stupid.   Any ...

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The need to avoid the old mistakes of Open MEPs

As we await the Department of Labor’s (DOL) guidance pursuant to President Trump’s executive ord...

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Make sure participant records are secure

Being a plan sponsor is difficult because you’re a plan fiduciary which requires the highest duty ...

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The problem with committees

Many articles talking about good retirement plan practices will talk about the need for employers to...