As we approach year-end, we have been busier than ever in the October-November period, discussing and setting up new plans. Our clients, mostly small businesses, appear to be 1) making money, and 2) comfortable with the idea of committing to high(er) contribution levels for the next several years. We deal with a variety of professionals, […]
Update
401(k) providers are aiming at the small market…
A recent (8/1/2016) Wall Street Journal article notes that startups are going after the “forgotten” small 401(k) market. No worries here; in fact, it’s probably good for our business because we do a lot of takeovers of plans started by other companies. In a typical scenario, a payroll company sets up a plan for a […]
First/random thoughts on the proposed changes to 5500 reporting
The Department of Labor (DOL), Internal Revenue Service, and Pension Benefit Guarantee Corporation (PBGC) recently issued a 777 page tome of proposed changes to the Form 5500 Annual Return/Report forms. Most of the changes would be effective for the 2019 or 2020 plan year, and to be honest I hardly ever bore people, especially my […]
The New Fiduciary Rule – What’s the Big Deal?
The Department of Labor (DOL) recently issued final regulations (“the rule”), many years in the making, that clarify and greatly expand the definition of a fiduciary as it applies to retirement accounts. This will be a very brief summary, primarily intended for retirement plan sponsors and participants who want a quick and very general understanding […]