ERISA
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Department of Labor Investment Advice
- December 9, 2020
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
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Recently, the DOL sent to the OMB the proposed Fiduciary Advice Rule. An understanding of when a firm and its representatives provide investment advice and thus act as fiduciaries is important.
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Target Fund Dates: Surprising Facts
- January 29, 2020
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
In 2006 the Pension Protection Act added Qualified Default Investment Alternative regulations, QDIA, to ERISA. One of the 3 QDIA alternatives a Plan Fiduciary could choose as a safe harbor investment is a Target Date Fund. As a result, the amount of 401(k) assets being deposited into Target Date Funds has increased substantially over the years.
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Plan Governance and Document Retention
- June 13, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
There are different retention requirements between the ERISA Regulations and the Internal Revenue Code. Plan Sponsors and Fiduciaries need to be very familiar with record retention requirements in order to produce the documentation in the event of an IRS audit or DOL investigation.
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Ensuring Intelligent Plan Governance
- May 15, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
A key element in Defining a Retirement Plan Standard of Excellence is Governance. Plan Sponsors and Fiduciaries need to ask themselves how they can ensure that they have the time, knowledge, and expertise to properly implement and maintain the best practices associated with Plan Governance.
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Best Practices for Your Plan Fiduciary
- April 23, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
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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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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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.