Resources
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Best Practices for Your Plan Fiduciary
- April 23, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
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Governing a qualified retirement plan requires the plan fiduciaries to be able to understand and apply complex regulations found in the Internal Revenue Code and ERISA. We’re looking at a guide that you can use to be sure your plan fiduciary is following best practices while governing your plan.
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Locating Missing Plan Participants
- April 9, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
Not documenting and attempting to follow the guidelines for the distribution of the following notices and disclosures can create an operational and fiduciary breach of duty by the named plan administrator, the plan sponsor.
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Discovering Fiduciary Problems: Questions to Ask
- March 27, 2019
- Posted by: Jeff Atwell
- Category: Resources
Recent years have seen a significant change in the way that qualified plans are managed. The resource you can download below offers Questions to Discover Fiduciary Problems, which can assist plan sponsors in evaluating potential improvements in the governance of their qualified plan.
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2018 Saver’s Tax Credit
- March 18, 2019
- Posted by: Jeff Atwell
- Category: Finance & accounting, Resources
Individuals who made salary deferral contributions to a 401(k) or 403(b) plan in 2018 may be able to take advantage of an additional tax credit when they file their 2018 income tax return.
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Settlor and Administrative Expenses: What’s the Difference?
- February 19, 2019
- Posted by: Jeff Atwell
- Category: Resources
The Department of Labor has recently focused on the payment of settlor expenses from plan assets. The DOL has, for a long time, taken the position that there is a class of discretionary activities which relate to the formation, rather than the management, of plans. These activities are referred to as “settlor functions” and they generally include decisions relating to the establishment, design and termination of the plan. Settlor expenses differ from administrative expenses, and it’s important to understand each.
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Redefining Defined Contribution Plans for the 21st Century
- February 7, 2019
- Posted by: Jeff Atwell
- Category: Resources
This 2018 article by Willis Towers Watson redefines Defined Contribution plans in a way that is helpful for 2019 and beyond. The resource looks at ten areas comparing the 21stcentury retirement plan to a 20th century retirement plan. The private retirement system has to evolve in order to preserve our profession. The 10 areas outlined in
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Retirement Plans for Each Generation
- January 4, 2019
- Posted by: Jeff Atwell
- Category: Resources
Plan sponsors are likely to find themselves working with participants from a variety of generations, from Baby Boomers to Millennials, and each generation raises different concerns about the future of retirement. We look at these concerns and how we can best address them.
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Maintaining Your Recordkeeper Relationship
- November 21, 2018
- Posted by: Jeff Atwell
- Category: Resources
A key element in Defining a Retirement Plan Standard of Excellence is plan governance. Plan fiduciaries should have a good understanding of the services being provided by all the service providers of the plan. There are some important areas to consider in regard to the recordkeeper providing services to the plan, such as compensation, fees, and evaluation of the plan.
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Plan Governance by Committee
- October 22, 2018
- Posted by: Jeff Atwell
- Category: Resources
We have reviewed a study by the Callan Institute which provided some very insightful information regarding governing plans by committee. Historically, the most successful plans have been governed by a committee or committees. Find out how different types of plans form committees that best meet their specific needs. Read these 10 insights for retirement plan governance by committee.
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Consequences of Careless 401(k) Compliance
- October 5, 2018
- Posted by: Jeff Atwell
- Category: Resources
Watch out for these ten common compliance defects which can occur because the plan sponsor does not know the responsibilities associated with sponsoring a qualified retirement plan.