While some plans worry about the legal consequences of offering advice programs, the Pension Protection Act (PPA) and related DOL guidance continue to support education and advice programs. We believe that an effective plan design will provide good alternatives for participants, and effective education and advice programs will enhance the likelihood that participants will make […]
So, you just received your company bonus check. Now, what should you do with it? Before you go out and spend it on something that you might regret, have you had a chance to review your wealth planning pie? Your wealth planning pie consists of all your wealth planning priorities, goals, and objectives. No matter […]
The cornerstone of effective plan administration is the plan document, which stipulates how Fiduciaries will handle the administrative features of the plan. All Qualified retirement plans must satisfy complex coverage and nondiscrimination testing requirements to qualify for the special tax treatment afforded to these plans under the Internal Revenue Code. In addition, most plans that […]
There should be three times per year when tax planning should be front and center of your overall wealth management plan; Beginning (January/February), middle (June/July), and the end of the year (November/December). Planning at the beginning of the year should be focused on the following; What are your retirement contributions plans? Are you focused on […]
The duty to pay reasonable fees for your plan services and to act solely in the best interest of participants has been a key tenant of ERISA since its passage. Plan sponsors employing a disciplined and diligent approach to reviewing and negotiating fees can feel confident in their compliance with this area of responsibility. The […]
While many of us diligently save each month in an employer-sponsored retirement plan such as a 401(k) or 403(b) or an IRA option such as a Traditional or Roth, do we really understand what we are saving for? While each person will have their unique answer to this question and personal goals, we are all […]