plan governance
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Reflections for the End of the Year
- November 13, 2020
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
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As the year draws to a close, it’s a great time for qualified plan sponsors to reflect on their goals and objectives for sponsoring a retirement plan. In addition, they should reflect on whether the plan is providing the participants with the best means possible to reach their retirement income goal.
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Contract Considerations for Service Providers
- October 28, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
A key aspect of plan governance is understanding the contract provisions of each party providing services to the plan. Plan sponsors can expose themselves to potentially substantial monetary risk if they do not review and understand service provider agreements thoroughly.
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Defining a Retirement Plan Standard of Excellence: Key Elements
- July 18, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
The white paper we’re discussing today touches on key elements of Defining a Retirement Plan Standard of Excellence. We’re looking at how providers monetize recordkeeping while maintaining that Standard of Excellence.
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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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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 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.