The Fiduciary Role One of the key tenants of an employer-sponsored retirement plan, such as a 401(k) is your role and responsibility as a Fiduciary. A Fiduciary as defined in ERISA is somehow who: Exercises discretion over the management of the plan or any authority over plan assets; Renders investment advice for a fee or other compensation, directly or indirectly; … Read More
Four 401(k) Plan Administration Best Practices
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 permit employee elective deferrals must … Read More
What it means to be a Certified Financial Planner CFP®
I wanted to articulate in broad terms what some of the designations that I carry at TAMMA mean and how those may impact those who choose to work with TAMMA. Not every wealth or financial advisor is a CFP®. And believe it or not, not all people in the financial industry are required to be a Fiduciary. What it means … Read More
