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Plan Sponsor Should Avoid These Retirement Plan Provider “Con Games”

The George Clooney-Brad Pitt trilogy of heist films known as Ocean’s Eleven, Ocean’s Twelve, and Ocean’s Thirteen were remembered for their twist endings, stylish pacing, and lightheartedness. Since the Ocean gang were...more

Plan Sponsors Should Avoid Using Their Payroll Provider as Their 401(k) TPA

I stick to what I know, so I venture very little outside the retirement plan space. I do that because I believe it is less likely to cause trouble. The two largest payroll providers don’t follow that philosophy -- they are...more

A 401(k) Financial Advisor Shouldn’t Refer a TPA Just Because They’re Cheap

Animal Farm by George Orwell was a clever allegory of the Bolshevik Revolution and the Soviet Union where the oppressed animals overthrew Farmer Mr. Jones, only to start oppress- ing each other. A similar situation is when I...more

Bottom Line: This is what Retirement Plan Sponsors Need To Do

My great Uncle Jack Urbinder passed away a few weeks back at age 88. He was my Grand- mother’s only brother (out of 3) who survived the Holocaust. Much like my grandmother, Uncle Jack was genuine and he told it as he saw it....more

ERISA Fiduciaries: Making Sense of All The Numbers

In the Golden Age of Boxing, there was one world champion. Whether it was Joe Louis or Rocky Marciano as the heavyweight kingpin or Sugar Ray Robinson as middleweight crown holder, you knew who was champion. There was one...more

Plan Sponsors’ Misconceptions About Retirement Plan Fee Disclosure

To me, there is no greater television show than Seinfeld because it’s timeless and there is something about each episode that reminds you of normal day life. In the reverse chronology episode set in India called “The...more

The Good Fundamentals of Being a Retirement Plan Financial Advisor

In 1983, the Chicago White Sox won the American League Western Division under the guidance of future Hall of Fame manager Tony LaRussa. Doug Rader, then-manager of the Texas Rangers, accused the Sox of "winning ugly" for...more

Why an Employer Should Visit a Retirement Plan Dentist to avoid a Plan Root Canal

More than a dozen years ago, there was a medical report that dental plaque could cause heart disease. I thought it was some sort of dental conspiracy to increase revenue as fluoridated water and other dental hygiene has had...more

OSFI Issues Guidance on When a Limited Partnership Meets Definition of “Pooled Fund” or “Mutual Fund”

The Office of the Superintendent of Financial Institutions has posted guidance (the Guideline) on the question of whether a fund established as a limited partnership by a corporation meets the definition of “pooled fund” or...more

Mandatory Retirement in Professional Services Firms

On May 22, 2014, the Supreme Court of Canada released its decision in McCormick v Fasken Martineau DuMoulin LLP. The Court found that John McCormick, an equity partner in Faskens, was not an employee for the purposes of the...more

Doing Business In Iowa

ABOUT IOWA - A. Population and Geography - Centrally located in the United States, the state of Iowa is characterized by rich agricultural land, with wetlands, woodlands, and prairie throughout. The state...more

Why you Shouldn’t Hire your Friends or Family as your Retirement Plan’s Financial Advisor

They often say that it doesn’t matter what you know, it’s who you know. At one time or another, we have all derived a form of financial benefit because of someone we know. Maybe it’s a job and maybe it’s free Yankees tickets....more

CalPERS Proposes To Amend Global Principles

Next Monday, the Investment Committee of CalPERS’ Board of Administration is scheduled to consider several amendments to CalPERS’ Global Principles of Accountable Corporate Governance. Among other changes, the committee will...more

How an Employer can detect if their Retirement Plan Provider is Breaking Bad

I am the last to know anything, so I binge watched the television series Breaking Bad months after the series had concluded its run on the American Movie Classics cable channel. Needles to say, I was mesmerized on how a nice...more

How a Retirement Plan Financial Advisor Can Survive In The World Today

If I could pinpoint what it takes for a financial advisor to survive and thrive in this business, I would say it takes two things: a hook and timing. A hook is a marketing term, it’s something to attract a plan sponsor’s...more

How a Plan Sponsor Can Avoid Being a Deer Caught in the Headlights

The term “deer in the headlights” explains the mental state of a person who shows behavioral signs that remind us of a deer subjected to a car’s headlights where the deer is in such panic that they show no motor reaction to...more

When It’s Time To Hire An ERISA Attorney

When I tell people that I’m an ERISA attorney, most people (including attorneys) don’t know what I do. While I’m not going to do a Rodney Dangerfield impersonation and claim I get no respect, the fact is that many plan...more

This is What a TPA Does and Why a Retirement Plan Sponsor Should Hire a Good One

One of my favorite movies of all time is The Deer Hunter. It’s a story about the Vietnam War and the post-traumatic stress disorder a group of friends from Western Pennsylvania who were drafted together and fought alongside...more

Practical Issues in Pension Fund Investing – Execution of Subscription Agreements

There is a famous phrase which is particularly apt in the area of pension fund investing – “the devil is in the details”. This is the first in a series on practical issues that arise in connection with investments by Canadian...more

How a 401(k) Financial Advisor Can Limit Their Liability

There is the old saying that the cobbler’s children have no shoes. I know that firsthand when my mother threatened to call an electrician because my father the electrician didn’t have time to do some electrical work in our...more

Why Employers Should Sponsor a Retirement Plan

Starting and running a business is one of the hardest things out there and I know from experience in starting my own law firm. You start a business to make a living and when the need arises and when you can afford it, you...more

Only 2 Things A Retirement Plan Sponsor Needs to Limit Their Liability

People in the professional services industry (legal, financial, or accounting) have a propensity to make something sound more important than it is. Those folks think that by making something sound more important than it is,...more

In Lawson, Supreme Court Expands SOX Whistleblower Protection to Employees of Private Contractors

On March 4, 2014, in Lawson v. FMR, the U.S. Supreme Court ruled that a public company’s private contractors can be covered under the whistleblower protections of Section 806 of the Sarbanes-Oxley Act. The Supreme Court’s...more

The Complete Worthlessness of The 401(k) Fiduciary Warranty

When it comes to selling products and services, marketing is everything. Marketing can help push a product or service into popularity, regardless of whether it’s good or not. Spuds MacKenzie was such great marketing; it made...more

Harriet Tubman And Navigating To Become An Ethical Company

March 10th was the 101st anniversary of the death of Harriet Tubman. She was one of the greatest conductors on the Underground Railroad, which took slaves out of the old south and up to freedom in the north and into Canada. I...more

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