Articles

Posted on Oct 13, 2022

Fidelity bonds are an ERISA requirement for people who manage plan funds and other property. These bonds protect the plan from losses due to fraud or dishonesty, which may include theft, embezzlement, forgery, misappropriation, and other acts.

Posted on Sep 26, 2022

You’ve likely heard about a decline in the number of Defined Benefit plans. But the reality is a DB plan is still a great tax and retirement savings vehicle that can produce superior retirement outcomes for the right client. Are you one?

Posted on Sep 12, 2022

It’s important for employers to understand and meet their 401(k) fiduciary responsibilities and comply with ERISA rules to ensure the proper management of their workers’ and retirees’ plan assets. A 401(k) plan must have at least one named fiduciary, either a person or entity, that has control over the plan’s operation.

Posted on Aug 24, 2022

This month, the IRS extended the deadlines to adopt certain retirement plan amendments for most plans. Notice 2022-33 provides plan sponsors with an extension until December 31, 2025 to adopt formal plan amendments for the CARES Act and the SECURE Act of 2019.

Posted on Aug 19, 2022

An important way you can help your employees make real progress for themselves is to offer auto-enrollment and auto-escalation features in your 401(k) plan. Both can positively influence retirement outcomes. But even if your plan includes these features, there may be reason to review them to make sure they’re optimized.

Posted on Aug 16, 2022

ERISA's stringent requirements for Plan Sponsors have made the administration of retirement plans even more complex and subject to legal challenges. Now more than ever, outsourcing these responsibilities to a qualified 3(16) fiduciary makes sound business sense.

Posted on Jul 20, 2022

All companies are vulnerable to hacking attempts, and it’s never been more important to assess and mitigate your risks. Staying up-to-date on security software, spam filters, firewalls, data encryption, data back-up, training employees to be vigilant, monitoring use of computer systems and equipment, and developing clear cybersecurity policies are essential steps to protect your organization and its employees.

Posted on Jul 5, 2022

Employees’ compensation is one of the most important items that a Third Party Administrator asks for on their yearly census. Plan documents include a legally compliant definition of “compensation.” Compensation is a huge component in determining 401(k) deferrals; match amounts; and profit-sharing calculations.

Posted on Jun 2, 2022

The Employee Retirement Income Security Act known as “ERISA” regulates 401(k) and most other types of employee benefit plans. Under ERISA, anyone who handles retirement plan funds must be covered by a fidelity bond. The bond protects the plan from losses that may result from fraudulent or dishonest acts.

Posted on May 26, 2022

The volatility in the financial markets have many 401(k) plan participants asking for guidance on how to weather the storm and manage their assets. Here are six tips participants should keep in mind in today’s unpredictable market.