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Just some of these things to juice your plan while it’s being restated

Between now and July 2022, your 401(k) plan will be going through a mandatory restatement. The restatement will create a new plan document for you and since you’re being charged for it, you might want to add, some or all of the following features to your pla...

Make it easy for plan participants to understand

Less is more, I believe that. As an attorney in an occupation where most attorneys charge by the hour and believe more is more, I am an outlier.   In communicating with your participants/employees, I think it’s important to offer communication in a lang...

Plan committees have to meet

I used to joke that at the law firm I was at, that if the Managing Attorney wanted to bury a particu...

Cutting Edge is usually Over The Edge

After 23 years in the retirement plan business, one thing that stands out is that plan providers are...

Credentials and Awards may mean nothing

A Long Island business newspaper once named my old law firm’s administrator as its Chief Financial...

You don’t need the headache of former employees

A family member just went through the process of locating retirement plan accounts at two different ...

Don’t hire relatives as plan providers

I have some simple rules to live by. I never bet on the Mets, eat at a place called Mom’s, play ca...

May be time to look at that TPA

58 percent of defined contribution sponsors surveyed for the 2021 PLANSPONSOR Defined Contribution (...

RFP process can’t be a sham

Years ago, as a naïve associate at a semi-prestigious law firm, I got the short end of the stick to...

Fix those late 5500 errors

With July 31st passing (the deadline for Form 5500 without an extension), it’s a great way to pond...