If tax season were like Christmas, you’d definitely file doing your taxes under “last-minute shopping.” Not only is it time to prepare last year’s taxes, but it’s also important to get this year’s taxes rolling as well. Compiling tax data last minute can be stressful and confusing. And trying to throw together important information regarding [...]
March 19, 2012
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Fiduciary Links: Is your technology platform ready for a fiduciary standard?
>>>>In the SEC’s Study on Investment Advisers and Broker-Dealers, the agency notes that one cost for broker-dealers that go fiduciary is related to, “developing or acquiring new technology” (see page 149). Last week Citi released a white paper that addresses…
March 19, 2012
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Are You Ready for a DOL Audit? 401(k) and Pensions Plans are in the Crosshairs
A recent report of U.S. Department of Labor (DOL) audit results contained some surprising statistics: almost 3 out of 4 audits find violations of the Employee Retirement Income Security Act of 1974 (ERISA) and the average cost for a plan to correct them, including fines and penalties, is $450,000. The DOL’s ERISA audit force will [...]
March 19, 2012
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401(k) Outsourcing: The Next Big Thing
There are an abundance of benefits to outsourcing the fiduciary risks and responsibilities of your company sponsored qualified retirement plan. Given the increased regulations and scrutiny by Capitol Hill, outsourcing makes sense for most small to mid sized businesses. Most business owners do not have the time to manage their retirement plan with the attention [...]
March 19, 2012
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Employee Benefits-Seventh Circuit Rules That Children’s Benefits From Social Security Due To Parent’s Disability May Be Applied To Reduce Disabilty Benefits Payable To The Parent By An Employer’s Plan
In Schultz v. Aviall, Incorporated Long Term Disability Plan, No. 11-2889 (7th Cir. 2012), the plaintiffs, Kathleen Schultz and Mary Kelly (the "Plaintiffs"), brought a class action under ERISA, to recover benefits under the long-term disability benefit plans (the "Plans")…
March 18, 2012
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Plan Sponsor Advisors Honored with 401(k) Advisor Leadership Award
The American Society of Pension Professionals & Actuaries announced the team of Plan Sponsor Advisors (PSA) from Chicago as recipient of the 2012 401(k) Advisor Leadership Award. Don Stone, managing partner and CIO of PSA received the award on behalf of the team during a session of the 11th annual ASPPA 401(k) SUMMIT in New Orleans.
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- Plan Sponsor Advisors Morningstar & ASPPA 401(k) Advisor Leadership Award Finalist 2012 Jennifer…
- ASPPA & Morningstar Open Nominations for 401(k) Advisor Award Leadership Award Designates Distinction in the 401(k) Marketplace ARLINGTON, VA,…
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March 16, 2012
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ERISA-First Circuit Upholds Plan Administrator’s Denial Of A Claim For A Retirement Plan Benefits
In Kingsbury v. Marsh &McLennan Companies, Inc., No. 11-1253 (1st Cir. 2012) (Unpublished Opinion), the plaintiff, Joan Kingsbury ("Kingsbury"), was appealing the district court’s grant of summary judgment affirming the denial by a plan administrator of a claim for retirement…
March 15, 2012
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Why your employees may balk at their 401(k) fees
Most plan sponsors are unaware of the scope of fees that the plan participants pay for their 401(k) plan. This will be a game changer for many [lan providers as pln participants become aware of fees later this year. Remember higher fees result in lower returns and lower retirement accounts. Not all fees are created [...]
March 15, 2012
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Re-enrollment Effective in Boosting 401(k) Participation
Of all the changes a plan sponsor can make to improve participation and improve their employees’ ability to retire adding auto enrollment and auto escalation will be the most effective. Most plan participants are looking to their employer for guidance. You, the employer, have significant influence on how your employees save for retirement. Because many 401(k) [...]
March 15, 2012
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Does Wall Street Have Your Best Interest in Mind?
There has been increased attention paid to the financial brokerage industry with regard to a non-fiduciary mindset on Wall Street. Investors are continually looking for the answer to one question. “How can I beat the market?” Not only is it a matter of increased return, but bragging right to their friends on how much money [...]
The Four Pillars of Retirement Plans: The Fiduciary Guide to Participant Directed Retirement Plans
"If you are a trustee, plan sponsor, or financial advisor serious about the retirement plan marketplace, you MUST read this book, or you will be ill-equipped to deal with the fiduciary meltdown non-readers will be facing." John Lohr, ERISA attorney and author
Get Your Copy Today!
March 19, 2012
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