The cornerstone of effective plan administration is the plan document, which stipulates how Fiduciaries will handle the administrative features of the plan. All Qualified retirement plans must satisfy complex coverage and nondiscrimination testing requirements to qualify for the special tax treatment afforded to these plans under the Internal Revenue Code. In addition, most plans that permit employee elective deferrals must … Read More
How Understanding Your 401(k) Plan Costs & Disclosures Can Reduce Your Personal & Plan Risks
The duty to pay reasonable fees for your plan services and to act solely in the best interest of participants has been a key tenant of ERISA since its passage. Plan sponsors employing a disciplined and diligent approach to reviewing and negotiating fees can feel confident in their compliance with this area of responsibility. The DOL has implemented a three-step … Read More
What Makes a Great Retirement Plan for Small Business Owners
Before you can start building the framework as to what would make a great retirement plan for small business owners, the executive or ownership groups need to consider why they want a great retirement plan for their employees. Four out of five employers report that their employees’ personal financial issues are impacting their job performance somewhat, very much or to … Read More
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