…fiduciary rules under the Employee Retirement Income Security Act of 1974 (ERISA) if certain requirements are met. Those rules include a requirement that assets are invested “in an investment product designed to preserve principal and provide a reasonable rate of return.” These are called “Safe…
…plan to maximize the owners’ savings and tax benefits or is it intended to attract and retain top talent? Is financial wellness of the employees important to the company? After all, a 401(k) is a great savings vehicle, but it only works best when employees…
Four Things to Know About ERISA Fidelity Bonds and Fiduciary Liability Insurance The Employee Retirement Income Security Act known as “ERISA” regulates 401k and most other types of employee benefit plans. Under ERISA, anyone who handles plan funds must be covered by a fidelity bond….
…minimis financial incentives to employees to encourage employee deferrals in 401(k) and 403(b) plans. This provision is optional and could be used as early as 2023. It’s likely that a plan amendment would not be necessary. Financial incentives could include such things as a small-value…
How does a plan sponsor benefit from its advisor being CEFEX…
What does it mean for a Third Party Administrator to be…
How does an advisor benefit from partnering with a CEFEX-certified TPA? And why is it important? Listen in to find out…
The Department of Labor (DOL), Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC) have extensive reporting and disclosure requirements for qualified retirement plan officials. These reporting and disclosure requirements serve the important function of educating and supporting participants in their retirement planning journey,…
In a merger and acquisition (M&A) situation, where the acquiring organization does not assume the seller’s retirement plan, what is something that the selling company often overlooks with respect to its retirement plan? M&A scenarios are notorious for treating retirement plans as an after-thought. Because…
This is the second article on the recent IRS “Grab Bag” guidance on provisions of SECURE 2.0 (Notice 2024-02). Let’s dive into the guidance on SECURE 2.0’s cash balance provision. To start with the bottom line: The Grab Bag guidance will generally allow plans that…
…contributions. Your role as a trusted advisor is crucial to both your relationship with the plan and plan sponsor, but also to help employees navigate past their own biases. Talk to us about expert plan design and plan communications that can help drive better outcomes….
…increasing employee participation. And we know that benchmarking reports generally don’t address these things either. We also know that much of the work we do is behind the curtain – clients don’t see it. And, what they don’t see, they may not value. That’s why…