Ary Rosenbaum | The Rosenbaum Law Firm P.C.

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 con-men,…more

7/17/2014 | Business Organizations, Labor & Employment Law, Finance & Banking, Taxation

It’s always the Plan Sponsor’s fault

Seven years ago, I was asked to look at a $25 million 401(k) plan that was in complete disarray and I was flabbergasted because it belonged to a law firm that claimed to have an ERISA practice. There was no financial advisor on…more

7/16/2014 | Labor & Employment Law, Finance & Banking

Beer Distribution and the Bundled Provider TPA

In England, many of the top pubs are owned by British breweries because watering holes are an effective means of beer distribution. If a business can control the method of distribution of their own products, they can expand the…more

7/14/2014 | Labor & Employment Law, Finance & Banking

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 also…more

7/10/2014 | Business Organizations, Labor & Employment Law, Finance & Banking, Taxation

Advisors Advantage - July 2014

If they made the poor Plan decisions, they may take offense on your criticism. They will take offense. Two years ago, I had the worst call with a prospective client in the 14 years I have been an ERISA attorney…more

7/8/2014 | Labor & Employment Law, Finance & Banking

Yeah, I know, Everyone does it

I was never part of the in crowd. Look at my picture, could I ever be in the “in crowd”? I’m always the odd one out, that’s why I dressed up as the Rodney Dangerfield character, Al Czervik from Caddyshack on Halloween. While I…more

7/8/2014 | Labor & Employment Law, Finance & Banking, Taxation

The Law Firm Review

Plan Sponsors' Misconceptions About Retirement Plan Fee Disclosure. There are many. To me, there is no greater television show than Seinfeld because it's timeless and there is something about each episode that…more

7/2/2014 | Labor & Employment Law, Finance & Banking

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

7/2/2014 | Business Organizations, Labor & Employment Law, Finance & Banking, Taxation

Some Plan Sponsors will cut their nose to spite their face

I used to spend much time trying to explain irrational behavior through rational thought and it’s really impossible. If you’re a plan provider, don’t waste your time doing that. There are some plan sponsors out there that…more

7/1/2014 | Labor & Employment Law, Finance & Banking

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. He…more

6/26/2014 | Business Organizations, Labor & Employment Law, Finance & Banking, Taxation

Be Wary of Plan Providers with Gray Hats

One of my favorite genres is the Western. While I prefer the works of Sergio Leone and Clint Eastwood to those of John Ford and John Wayne, I have always been a big fan of these films. I always like the idea that the good guys…more

6/23/2014 | Labor & Employment Law, Finance & Banking

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

6/18/2014 | Business Organizations, Finance & Banking, Labor & Employment Law, Taxation

Fees are only part of a 401(k) Plan’s problem

10 years before I went on my own and started my own practice, I started The Rosenbaum Law Firm P.C. It was a side venture, kind of an attempt to see if I can start my own practice without actually having to leave my day job. If…more

6/18/2014 | Labor & Employment Law, Finance & Banking

Not all 3(38) Fiduciaries are alike

ERISA §3(38) investment managers has been a hot topic in the marketing of retirement plan providers and for the most part, it’s a good thing because plan sponsors who have no time to handle the fiduciary process of their plan…more

6/17/2014 | Labor & Employment Law, Finance & Banking

If they made the poor Plan decisions, they may take offense on your criticism

Two years ago, I had the worst call with a prospective client in the 14 years I have been an ERISA attorney. Without divulging any information about this prospective client, this 401(k) plan sponsor was like many…more

6/16/2014 | Labor & Employment Law, Finance & Banking

Ary Rosenbaum – The Rosenbaum Law Firm P.C.