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plans

A restatement could be time for a plan housecleaning

A restatement process isn’t required by the Internal Revenue Service so that ERISA attorney can bill for drafting new plan documents. It’s required so that a retirement plan has a document that is current with the law.   As we start a new process, it...

last call

Last call for safe harbor match soon for 2021

Unlike the safe harbor non-elective contribution, you still need notice and you still need one in place if you want one for 2021 by December 1.   While non-elective safe harbor formulas no longer need notice and no longer need to be in place until during ...

parents

Like your parents, the IRS VCP program wants you to come clean

As a child, you’re usually told by your parents that they just want to hear the truth and that tel...

benchmark

Benchmark your providers

I had a contractor work on my house for a couple of projects. Frank installed a new front door, inst...

loans

The Problem With Loans

They often say that the road to hell is paved with good intentions. I don’t know who said it first...

advisors

What financial advisors really do

One would think that the role of a retirement plan financial advisor is to pick plan investments. Mo...

magic bullet

The Magic Bullet of 404(c) Compliance

ERISA §404(c), is the code section that may limit a plan sponsor’s liability in retirement plans ...

casino

The Truth about plan disqualification

In the movie Casino, Robert De Niro’s character Lefty Rosenthal warns Joe Pesci’s character Nick...

lone ranger

Beware of TPAs who are really insurance sales people

A friend of mine who is a financial advisor asked me about a third party administration (TPA) firm t...

mutual fund

One Mutual Fund Lineup isn’t a good idea

You must know about the shoemakers’ children and how they go barefoot and have no shoes. In the re...