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The problem with insurance with 401(k) plans

I have life insurance and it’s an important financial tool to protect your loved ones. I’ve never been a fan of maintaining a life insurance policy within a qualified plan and that bias against it is because of the compliance errors I’ve seen with these ...

targetvmacys

When you focus only on fees, you lose sight of everything else

For the past 7 years, fee disclosure has certainly helped you as a plan sponsor to finally understand the true cost of plan administration. That’s important because you have a fiduciary duty to only pay reasonable plan expense.   The problem is that fee...

parttime

The biggest SECURE Act Change IMHO

The biggest change under SECURE Act is the treatment of long-time, part-time employees under your 40...

secureact

What Plan Sponsors Need To Know About The SECURE Act

I once had a law school professor who joked that we change the bankruptcy laws to give business to b...

solo401k

There is a cost to those free plans

There is nothing wrong with free unless there is a hidden cost involved. Small business plans that d...

kiss2

Keep it simple stupid

As they once said in This is Spinal Tap, there is a fine line between stupid and clever. I can assur...

empagreement

The question of providing information

ERISA requires disclosure of certain plan documents to participants including a summary plan descrip...

paydayloan

The multiple loan problem

As a 401(k) plan sponsor, you need to know that plan errors happen all the time. A 401(k) plan has s...

contractpen

Get those contracts reviewed

One of the biggest problems for my clients after they hire me is that they realize that they never b...

peepspie

Make Sure The Census Information is Correct

I use the expression “garbage in, garbage out” if an end of year census report is done incorrect...