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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

Concerns For Who You Pick As Your 401(k)’s TPA

I was very lucky that when I started as an ERISA attorney in 1998, I worked as a staff attorney for a third party administrator (TPA). It gave me insight and experience that I could never have gotten as an attorney working...more

What 401(k) Plan Sponsors Shouldn’t Forget

It’s easy to forget things. Heck, half of the things my wife tells me to do is forgotten by the afternoon. My wife often suggests that I keep a list of things I need to do so I don’t forget. Of course, I forget to keep lists....more

401(k) Plan Sponsors: Please Read This Article!

You’re a 401(k) plan sponsor and we understand that you’re busy running a business and talking about retirement plan issues is as exciting as watching paint dry. The problem is that paint drying won’t expose you to liability,...more

How To Have A Good 401(k) Plan After The Long Run

I’m a big fan of The Eagles and one of my favorite songs is the title track “The Long Run.” “You can go the distance. We'll find out in the long run.” While the song is really about love and relationships, I like it because...more

How Retirement Plan Providers Can Deal With The Fiduciary Rule Change

At its prime, Blockbuster Video had 9,000 stores and was actually bought by Viacom in 1994 for $8.4 billion. Then some things called DVDs, Netflix, Redbox, and digital delivery caused Blockbuster to go out of business....more

Don’t Use Your Payroll Provider As Your 401(k) TPA

I’ve been writing articles for the past 6 years and the ones that are remembered the most are the ones about how it’s a bad idea for plan sponsors to use payroll providers as the third party administrators (TPAs) of their...more

How to Communicate and Understand Retirement Plan Sponsors

Being a retirement plan provider isn’t just about selling services, it’s really about selling yourself and you can’t sell yourself properly if you can’t communicate with clients and potential plan clients. This article is...more

Mistakes A Plan Sponsor Should Correct Before An IRS or DOL Audit

I have been in the retirement plan business for over 17 years and I have met too many plan sponsors who don’t care that their plan isn’t being run correctly. What makes them eventually care is when they are audited by the...more

Features That Turn Your 401(k) Plan Into A 401(k) Disco

There is a difference between throwbacks vs. vintage clothing. A throwback is a sports uniform styled to resemble the uniforms that a team wore in the past. Vintage clothing are actual clothing garments from another era. I...more

The Plan Sponsor Awakens

Like most of my generation, I have been a Star Wars fan since I first saw A New Hope when I was 5 in1977. I even liked the prequel trilogy (except for Jar Jar Binks). When they announced that there would be an Episode VII, I...more

What Retirement Plan Sponsors Have To Fear

In his inauguration speech, Franklin Delano Roosevelt said that “the only thing we have to fear is fear itself.” Retirement plan sponsors have more to fear than fear itself except the problem is that they’re unaware that they...more

Supreme Court "SOX" it to Employers by Extending Statute's Whistleblower Provision to Private Contractors of Public Companies

On March 4, 2014, the U.S. Supreme Court issued a decision in Lawson v. FMR LLC expanding the class of persons protected under the anti-retaliatory provisions set forth in the Sarbanes Oxley Act of 2002 ("SOX"). The Court...more

Corporate Counsel: How to Stop Bluster, Boilerplate and BS in RFP Responses

We’re seeing huge increases in the number of RFPs corporate legal departments are issuing to try to get the best law firms, lawyers and service. But we’re not seeing huge increases in the quality or effectiveness of those...more

Why Some Law Firms Have Lousy 401(k) Plans

My father is an electrician and my mother always joked that whenever we needed electrical work done in the house, we need to hire an electrician. The story is similar to the tale of the shoemaker’s children that needs shoes....more

Why Attorneys Should Care About Their Clients' Retirement Plans

While plan sponsors, financial advisors, and accountants should know about the potential pitfalls of plan sponsor liability or the need to have a plan design that fits the plan sponsor’s needs, I am amazed that many attorneys...more

Keeping Your Jurors Organized

Our society values spontaneous creativity: We marvel at jazz improvisations, delight in a stand-up comic?s ability to create something out of nothing and admire an artist who quickly turns a blank canvas into a gorgeous...more

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