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The Small Stuff That Plan Sponsors Should Sweat Out

It’s often said that you shouldn’t sweat the small stuff. The problem is that many times, a retirement plan sponsor ignores the small stuff, and that small stuff leads to bigger problems. This article is about small details...more

Warning Signs that Your Retirement Plan Might Be In Trouble

When it comes to your health, there are warning signs when you’re about to suffer a heart attack or a stroke. If you pay attention to these warnings signs, you might avoid a serious medical emergency. While a retirement plan...more

401(k) Plan Sponsors: Don’t Make These Mistakes

Larry David is one of my favorite people because he created two of the greatest shows in television history: “Seinfeld” and “Curb Your Enthusiasm.” The shows are similar in that they depict bad ideas or bad behaviors. Curb...more

How You Can Stand Out From The Crowd As A Retirement Plan Advisor

There are lots of financial advisors who claim they handle retirement plans, but there are only a fraction of those advisors who know how to actually handle them. So if you are a retirement plan financial advisor who knows...more

Why an Employer Should Sponsor A 401(k) Plan

As an employer, a big reason for setting up a retirement plan is because it’s an employee benefit and it can be used to recruit and retain top-level employees. Unlike health insurance, the costs of running a retirement plan...more

It’s Time For 401(k) Plan Sponsors To Get A Grip

As an ERISA attorney with a national retirement plan practice, I often feel like a flight attendant giving the safety discussion on a commercial airplane. When I talk about retirement plans and fiduciary liability, I think...more

How a 401(k) Plan Sponsor Minimize Their Liability In 8 Easy Steps

Sponsoring and operating a 401(k) plan isn’t easy. A plan sponsor can’t just set up the plan and forget it. They need to constantly be on the watch because of the liability exposure they have as a plan sponsor. When plan...more

Concepts That Retirement Plan Advisors Shouldn’t Focus On

Being a financial advisor isn’t as easy as many people on the outside think. There are so many things you need to manage in terms of your practice and dealing with potential and current plan sponsor clients. There are so many...more

Concepts You May Not Be Aware Of As A 401(k) Plan Sponsor

As a child, I was never taught the birds and the bees. I was actually handed some cartoon book from my parents when I was young. My parents thought it was hilarious that they had to hand me a book about where I came from even...more

How Keeping Good Records Can Minimize A Retirement Plan Sponsor’s Liability

Besides being a religious text, the Bible is essentially a history book detailing major religious events like the Exodus from Egypt. A history book is a record of events that can be passed down from generation to generation....more

As A 401(k) Sponsor, A Class Action Lawsuit Is The Least Of Your Legal Worries

Having been in my own practice for over 6 years, it’s a broken record hearing from 401(k) plan sponsors on how they have nothing to fear about being sued since their plans are small potatoes. The problem with that view is...more

How An RIA Can Profit Off Of The New Fiduciary Rule

When it comes to an industry, change is often fraught with trepidation and fear. However, I always believe that change also brings opportunity. So while people are predicting gloom and doom when discussing the Department of...more

The Potential Liability of Participant Directed 401(k) Plans

As children, we were told the story of Jack and The Beanstalk. Jack sells a cow for some “magic beans” and his mother is so angry, she throws the beans on the ground and a magic beanstalk grows overnight. When it comes to...more

A Plan Sponsor Should Never Assume Their Providers Are Doing A Great Job

My wife and I have been in our house for over 11 years and it’s been one remodeling project after another. This is what happens when the previous owner did nothing for 20 years. We hired a general contractor to redo our...more

The JD Supra 50 - Top Legal Topics in 2016

JD Supra's annual list of 50 top legal topics for the year....more

How A Plan Sponsor Can Increase 401(k) Participation Without Costing Much $$$

My former Synagogue wanted Hebrew school parents to attend Synagogue events, so they created a participation fee where parents would have to pay $180 that they could use to attend events. Before I was involved as a Trustee...more

Why A Plan Sponsor Should Get A Plan Review

Retirement plan sponsors tend to be reactive rather than pro-active. They would rather not spend money to undergo a plan review and assume everything is fine until they run into a big compliance issue or mistakes are...more

A “Crystal Ball” On Life After The New ERISA Fiduciary Rule

The Department of Labor’s (DOL) new fiduciary rule that is going to go in effect in April 2017 is going to have a profound change in how financial advisors work with their retirement plan clients. It’s unchartered waters,...more

Glaring Problems A Plan Sponsor May Not Be Aware Of When They Think Everything is OK

I knew a family member who would never go to the doctor for preventative care. She always reasoned that if she went to a doctor, that meant she was sick. That meant that her goal was avoiding the doctor at all costs. It’s...more

The To-Do List For 401(k) Plans Now: 2016-2017 Edition

Being a retirement plan sponsor is a tremendous responsibility and the problem is that most plan sponsors don’t understand that. Plan sponsors often act passive because they hire retirement plan providers to help them. The...more

401(k) Plan Providers’ Behavior To Avoid That Loses Clients

Over the past 18 years as an ERISA attorney, I have some pretty weird reasons why retirement plan providers get fired. I’ll never get the financial advisor who was fired because the client’s new Chief Executive Officer wanted...more

How to Pick Your Retirement Plan Providers

Too often, retirement plan providers are selected at the family dinner table, the golf outing, or at a house of worship. While those are nice places for social gatherings, they are not the ideal place for selecting retirement...more

401(k) Sponsors Say Their Plan is OK, but They Really Have No Idea

When I was dating my wife, she asked me if I had a good credit score and I said I did. I never checked my credit score, but I paid all my bills in full and on time. Of course when I got a copy of my credit report, my credit...more

The Laurita Rules for 401(k) Plan Providers.

Once upon a time in the 401(k) world, I knew a man named Richard A. Laurita. I worked with Rich (as his friends called him) for two different third party administration (TPAs) firms for over 9 years and he had the most...more

How 401(k) Plan Sponsors Can Improve Their Plan At Little Cost

There are many ways that a retirement plan sponsor can improve their 401(k) plan, but they usually balk when it comes to the time and the money needed to rectify it. With so many issues regarding their business especially the...more

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