Cybersecurity Procedures?
Yes, every business needs cybersecurity procedures–and establishing them is doubly critical for retirement plan sponsors. Fiduciary advisors stress that establishing a written cybersecurity policy with specific, actionable procedures, is not only best practice, but…
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Small Payments Owed To Missing Participants?
Missing retirement plan participants–and the payments owed them–has been a hot button issue for the Department of Labor for years, with plan sponsors urged to put more attention into location efforts. Now, temporary guidance…
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ERISA: Know the Rules, Avoid the Risks
ERISA, the Employee Retirement Income Security Act of 1974, doesn’t require employers to offer a retirement plan, but it does set strict rules for those that do. Given the responsibility of safeguarding employee retirement…
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Going The Extra Mile?
To say that a retirement plan sponsor must take fiduciary obligations seriously is to state the obvious. Here’s the thing though: we can’t stop at mere compliance. Longer lives and higher costs of living…
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Good To Know: Plan Terms
The terms associated with employer sponsored retirement plans can be confusing, causing fuzzy understandings to be passed around in the course of overseeing the plan. Be careful, though: the Employee Benefits Security Administration (EBSA)…
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401k Committee Member Vs Bump On The Log?
There’s no such thing as merely sitting in on meetings when it comes to the high standards of ERISA. Each member of a retirement plan committee can be held personally responsible–financially–for errors and oversights….
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The 401k and Health Savings Plans?
Healthcare is top of mind for many workers, so it’s not surprising that the closer employees get to retirement, the more worried they are about the costs of healthcare. That’s why it can make great…
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Ignoring The Signs?
For sponsors of 401k plans, failure to take action when investments underperform can result in allegations of a fiduciary breach. Indeed, failure to properly monitor funds is the claim at the center of litigation…
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Naughty or Nice?
For retirement plan sponsors, a better question is whether they have been diligent or not, as judged by the high standards of ERISA. Shortcomings can not only be found by the Department of Labor…
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