Blog
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Maximize Benefits with the New Tax Reform Act
- August 2, 2018
- Posted by: Jeff Atwell
- Category: Resources
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Whether you need to establish a plan or you would like to enhance an existing one, the tax reform act from 2017 offers a great opportunity for both advisors and small business owners. Advisors should contact business owners and be sure that their plans offer the maximum benefit from the tax reform act.
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Plan Sponsor Responsibility – A Checklist for Engaging Fiduciaries
- July 12, 2018
- Posted by: Jeff Atwell
- Category: Resources, Uncategorized
If a plan sponsor decides to outsource certain responsibilities to a fiduciary there are many decisions to be made. Attached is a checklist designed to assist plan sponsors in evaluating what to outsource and what to retain.
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The Role of Fiduciary Liability Insurance
- June 22, 2018
- Posted by: Jeff Atwell
- Category: Resources
We discuss the duties that plan sponsors retain in regard to ERISA qualified retirement plans and ERISA welfare benefit plans, whether you should outsource fiduciary responsibilities to a third party, and the role that fiduciary liability insurance plays in protecting you from potential litigation involving an ERISA plan.
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Lost Participants in Retirement Plans
- June 20, 2018
- Posted by: Jeff Atwell
- Category: Resources
Lost participants can increase the risk of a fiduciary breach or operational defect as well as increasing the administrative cost of maintaining the lost participant’s accounts within the plan. This creates an opportunity for a plan advisor to create value for their plan sponsor clients in assisting them in managing terminated participants who have not provided current addresses. We share a few resources to help you understand what’s involved.
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Common Operational Mistakes With 401(k) Plans
- June 5, 2018
- Posted by: Jeff Atwell
- Category: Resources
Operational defects in retirement plans will not only cost the plan sponsor time and money to fix, but also could take away from the success of the plan in providing adequate retirement benefits for the participants. This creates an opportunity for an advisor to help the plan sponsor avoid mistakes. We share a report on 10 common 401(k) mistakes and their consequences.
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Demand for Advice Within Retirement Plans
- May 14, 2018
- Posted by: Jeff Atwell
- Category: Resources, Uncategorized
A recent report shows there is demand for advice within retirement plans. We share that insight and how an investment professional can serve a key role in assisting a plan sponsor on the most appropriate means of providing participant advice or managed account services.
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401(k) Plan Mistakes and Fix-It Guide
- April 12, 2018
- Posted by: Jeff Atwell
- Category: Resources, Uncategorized
Plan sponsors should be aware of the various options available to them to fix a 401(k) Plan operational defect or fiduciary breach once discovered. The attached 401(k) fix it guide is designed to assist plan sponsors and advisors in identifying the defect and identifying the correct method to correct the defect.
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Priorities to Define a 401(k) Standard of Excellence in 2018
- March 29, 2018
- Posted by: Jeff Atwell
- Category: Financial Plan
Plan Sponsors should strive to set a standard of excellence for participants. Review these 9 factors to ensure you set the bar high for 2018.
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For Highly Compensated Employees Consider Safe Harbor Plans
- March 6, 2018
- Posted by: Jeff Atwell
- Category: Uncategorized
This is the time of the year when highly compensated employees (HCEs) are receiving the test results for the 2017 plan year.
Many HCEs are receiving refunds in order to pass the Average Deferral Percentage Test (ADP).
A safe harbor plan design may be an excellent alternative to consider.
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Should You Implement A Financial Wellness Program?
- February 20, 2018
- Posted by: Jeff Atwell
- Category: Resources
Should You Implement A Financial Wellness Program? Over the last 30 years there has been a significant movement by employers away from traditional defined benefit plans to 401(k) plans. The net result of this shift is that now, more than ever, responsibility for achieving a secure retirement falls squarely on the shoulders of individual employees.