Blog

Thursday, July 12, 2018

In late March of 2018, the IRS announced new rules and deadlines for pre-approved defined benefit plans. The new announcement requires that all defined benefit plans using pre-approved plan documents restate their plan before April...

 

Friday, June 1, 2018

Your clients who sponsor retirement plans put in a lot of time and effort to keep their plans in compliance. Many dollars and hours go into making sure that they are following the tax laws for their qualified retirement plans. But,...

 

Wednesday, May 2, 2018

Many small businesses choose a SIMPLE IRA as their first employer-sponsored retirement plan. They are a good beginner plan because they are cheaper than 401(k)s, quicker and easier to set up, and are overall, like their name, more...

 

Thursday, April 5, 2018

Usually, when your clients decide to sponsor a retirement plan, it’s not because they actually want to run a retirement plan. It’s because they care about their employees and want to be competitive when trying to attract...

 

Tuesday, March 20, 2018

It’s common knowledge that ERISA law is complex and even the best-intentioned plan sponsors make mistakes. Because audits are timely and costly, the IRS devised a system for plan sponsors to acknowledge and correct their mistakes...

 

Show All

Wednesday, February 14, 2018

Last fall, tax reform seemed to be an all-consuming obsession in Washington. By December, both houses of Congress had worked out their differences and sent a bill to the president’s desk to sign. That tax bill became effective on...

 

Tuesday, January 23, 2018

In our modern, one-stop-shop culture of Walmart and Amazon, target date funds (TDFs) have become increasingly popular for defined-contribution retirement plan participants. The automatic rebalancing that moves the fund more...

 

Thursday, December 14, 2017

With so much talk of the demise of defined benefit retirement plans, many people are surprised to learn that there is one type that is growing faster than even 401(k) plans. In 2015, the most recent year for which IRS data is available...

 

Tuesday, October 24, 2017

On Friday, the IRS announced their 2018 Pension Plan limits. A number of important limits have increased, such as the Defined Contribution and Defined Benefit dollar limits and the elective deferral limit. Some have stayed the same,...

 

Monday, October 16, 2017

Upon sponsoring a retirement plan as an employee benefit, your client takes on the legal responsibility of a fiduciary. The Employee Retirement Income Security Act (ERISA) spells out a number of responsibilities that come along with...

 

Tuesday, September 12, 2017

Each 401(k) plan requires three types of services: investment services, recordkeeping services, and administrative services. An investment advisor typically provides investment services such as selecting funds for the plan, educating...

 

Thursday, August 24, 2017

Typically, all employee benefit plans that have over 100 participants are required to have an audit accompanying their Federal annual report (Form 5500). This includes 401(k), 403(b), pension, and other retirement and health and...

 

Wednesday, August 2, 2017

Offering a retirement plan isn’t a decision that your business owner clients take lightly. A lot of time and effort goes into researching options and designing a plan. Once they’ve made the decision, even more time and...

 

Wednesday, July 12, 2017

For many businesses, sponsoring a traditional pension plan has become too much of a burden on their bottom line. The costs, related to both administrative and benefits, have left them in search of a more affordable option. Your clients...

 

Tuesday, May 30, 2017

It takes a village to raise a child, and the same principle applies to retirement plans. An excellent retirement plan is the result of a team effort. As a financial advisor, you shouldn’t be expected to know everything and do...

 

Friday, May 5, 2017

Back in October, we discussed the surge of growth in cash balance plans (CBPs). One of the reasons they have been growing ten times as fast as 401(k) plans is the tax savings they provide. As your clients recover from tax time, now is...

 

Wednesday, April 5, 2017

ERISA law is complicated, so it’s easy for plan sponsors and their advisors to make mistakes unintentionally. Luckily, the IRS recognizes this. They know that it is in everyone’s best interest for plan sponsors to remedy...

 

Saturday, March 11, 2017

Retirement plans are regulated by the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code. As such, retirement plan sponsors and administrators must report to the Department of Labor (DOL), the Pension Benefit...

 

Wednesday, February 15, 2017

Back in February 2015, President Obama asked the Department of Labor (DOL) to “update the rules and requirements that retirement advisors put the best interests of their clients above their own financial interests.” The DOL...

 

Saturday, January 7, 2017

Your clients understand that it’s the people working in it that make a company great. They want to attract and retain top talent, and one of the best ways to do that is by offering a retirement plan. Many small- to medium-size...

 

Thursday, December 1, 2016

At the end of every year, it is helpful for retirement plan advisors to review their plans to see if anything needs to be done in preparation for the new year. Oftentimes laws and plans have changed that require specific actions. Here...

 

Friday, November 18, 2016

Whether you’re starting from scratch or just trying to comply with ERISA’s mandate to determine if you’re paying reasonable compensation, conducting a vendor search can be a daunting proposition. The time involved and...

 

Tuesday, November 15, 2016

When you take a vacation, how do you plan your trip? Do you just drive to the airport and see where you end up? Or do you choose a destination, book tickets ahead of time, plan the sights you’d like to see, and make reservations...

 

Thursday, October 20, 2016

As an advisor to tax-qualified retirement plans, you understand how much time and energy your clients put into making sure their retirement plans comply with the Employee Retirement Income Security Act of 1974, or ERISA. Now you have...

 

Wednesday, October 5, 2016

Even as 401(k) plan use is surging, there is another retirement option that is growing nearly 10 times as fast. What is this other option that is taking over the defined-benefit plan space and putting 401(k) growth to shame? Cash...

 

Monday, June 13, 2016

The recent IRS deadline at the end of April required that plan sponsors restate their 401(k) plans and other tax-qualified retirement plans to comply with the Pension Protection Act. For busy plan sponsors, the deadline was easy to...

 

Monday, May 9, 2016

Advisors who work with business owners know they are often different than the average investor. A 2014 CNBC study revealed that most small business owners have 70% of their wealth invested in their businesses, with 20% having over 80%...

 

Friday, May 6, 2016

Plan sponsors know that there are more liabilities and regulations for them to worry about than ever before. They are concerned with IRS rules, fiduciary responsibilities, and tax law changes. Failure to comply with regulations can be...

 

Thursday, April 14, 2016

There are new IRS Guidelines for Safe Harbor 401(k) Plans. Take a look at our infographic below to learn more!

 

Tuesday, March 8, 2016

As we have previously discussed on our blog before, business owners close to retirement are increasingly choosing Cash Balance Plans over 401(k) plans. In fact, almost one in four Fortune 500 companies offers a defined benefit pension...

 

Monday, February 8, 2016

One of the most important decisions any business owner makes is what kind of retirement plan to set up for himself and his employees. This decision has far-reaching consequences in how much the owner is able to save for retirement, tax...

 

Friday, February 5, 2016

How confident are you that you will be able to retire comfortably? In 2014, only 18% of workers said that they are very confident they can retire comfortably. That means that the vast majority of people – 82% – are either...

 

Friday, February 5, 2016

In our last article, we discussed the difference between 3(16), 3(21), and 3(38) fiduciaries. This week, let’s dig deeper to understand 3(16) fiduciaries. By definition, a 3(16) fiduciary has a responsibility to ensure the plan...

 

Friday, February 5, 2016

One of the most important decisions any business owner makes is what kind of retirement plan to set up for himself and his employees. This is especially important for physicians because of their above-average compensation. The first...

 

Saturday, January 30, 2016

In our recent blog series, “The Best Retirement Plans for Medical Groups,” we have been examining the options available to physicians and their pros and cons. Choosing the right retirement plan is especially important for...

 

Saturday, January 30, 2016

In our blog series, “The Best Retirement Plans for Medical Groups,” we have been examining the options available to physicians and their pros and cons. Choosing the right retirement plan is especially important for...