Before you can start building the framework as to what would make a great retirement plan for your business, the executive or ownership groups need to consider why they want a great retirement plan for their employees. Four out of five employers report that their employees’ personal financial issues are impacting their job performance somewhat, very much or to an … Read More
7 Investment Selection & Monitoring Best Practices for Your 401(k) Plan
ERISA’s standard of prudence for Fiduciaries is not that of a prudent layperson but rather that of a prudent investment professional. A plan Fiduciary must act “…with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use…” A lack of familiarity with investments … Read More
How to Establish a 401(k) Plan Investment Committee
No matter the size of your company, having an investment committee overseeing your employer-sponsored retirement plan is a critical Fiduciary responsibility. Your committee could consist of any amount of people, including as few as two. However, the key membership criteria are that you’re your committee should all be qualified members. It is better to have a smaller, well-identified committee with … Read More
How Understanding Your 401(k) Plan Costs & Disclosures Can Reduce Your Personal & Plan Risks
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 DOL has implemented a three-step … Read More
What Makes a Great Retirement Plan for Small Business Owners
Before you can start building the framework as to what would make a great retirement plan for small business owners, the executive or ownership groups need to consider why they want a great retirement plan for their employees. Four out of five employers report that their employees’ personal financial issues are impacting their job performance somewhat, very much or to … Read More
