What Disclosures May be Distributed Electronically under the DOL Safe Harbor? A comprehensive guidance - and safe for plan fiduciaries - is the safe harbor for electronic delivery provided in the DOL regulations.
Early Withdrawals Can Lead to Tardy Retirements and Problems for Everyone: How to Help
Why Retirement Plan Sponsors Should Care About Employee Student Loan Debt
IRS/DOL Audits Are Increasing Dramatically - Are You Ready?
If your plan has not been recently audited, it is likely only a matter of time before the Internal Revenue Service (IRS) or the Department of Labor (DOL) comes knocking. If/when you are notified of an audit, early preparation can help streamline the process, keep the investigation narrow, and avoid potential financial penalties and interest.
Every Plan Should Have a Committee Charter and Here’s Why
Although not legally required by ERISA, a retirement plan committee charter is a very important document for plan governance which may help fiduciaries avoid potential liabilities. Committee Charters are one effective way to “evidence” intent of prudent plan management. Having a charter is a “best practice” all plan sponsors should seriously consider.
Survey Says… What’s Your Take on Financial Wellness Programs?
Thanks for the Memories: Gratitude and Financial Wellness
What is an appropriate interest rate for plan loans?
ERISA 3(38) Fiduciary Services
Student Loan Repayment Program
On August 17, 2018, the IRS issued private letter ruling 201833012 (the PLR). The PLR addressed an individual plan sponsor’s desire to amend their retirement plan to include a program for employees that were making student loan repayments. The form of this benefit would be an employer non-elective contribution (SLR contribution).
Fiduciary Hot Topics – Q1 2022
New Horizons Retirement Readiness
Ten Things to Know About Your Employer’s Retirement Plan
Financial Wellness Needs a Long and Short Game to Work for Both Participants and Organizations
In the retirement plan industry, all too often we tend to conflate financial wellness with retirement readiness — whether this means confidence in obtaining retirement goals or being on track to reach post-employment financial targets. However, this limited view may fail to paint a complete picture for many participants.