Correcting Problems With Your Retirement Plan
How To Operate A Retirement Plan Provider Practice on a Shoe String.
Why spend when you don't have to.
I decided to start my own practice when another law firm stated that I could earn $150,000 if I brought them...more
What Plan Sponsors Don't Know, May Hurt Them.
And they don't know a lot.
When I worked at a semi-prestigious lawfirm, one of the named partners (whose son was a respectable politician) asked me what my practice...more
In a decision issued a couple of years ago, the United States Supreme Court held that a summary plan description that differed from the plan document could not be enforced as the plan document. The Court said that the summary...more
Costly lawsuits filed by employees against their employers come in several varieties, including lawsuits alleging liability because of an employer’s handling of its employee benefit plans. Earlier this year, the U.S. Supreme...more
Too often brokers and financial advisors think about their client’s retirement plan needs and only think about the 401(k) plan. It’s understandable based on their lack of understanding retirement plan basics, but it’s not...more
The Department of the Treasury issued its 2015-2016 Priority Guidance Plan detailing projects that it intends on dedicating resources to in the coming year. There are numerous employee benefits-related items in the plan....more
Thalidomide was supposed to be the wonder drug that helped women manage morning sickness until they discovered it caused birth defects. Asbestos was supposed to be the ultimate fire resistant material that was later found out...more
I’ve been a big baseball fan since I was 7 and one of the great things is remembering when baseball stars were just minor league prospects. I remember when Mets stars like Dwight Gooden, Daryl Strawberry, and David Wright...more
Retirement Plan Provider Marketing Do's and Don'ts. What to do and not do.
I never took a marketing course in college and I probably should have if I was going to go on my own and start a law practice. While I never...more
The Essential Plan Providers For A 401(k) Plan.
The Plan Providers you need. When people are sick, especially debilitating illnesses or diseases, it's natural for them to travel far and wide to get the best medical...more
Certain Closely Held For-Profit Employers Need Not Provide Women’s Contraceptive Services. Under the ACA, non-grandfathered group health plans must cover specified preventive services, including certain women’s preventive...more
The market correction this week is going to do what all market corrections and crashes do, put a light and heat on the 401(k) industry. I’ve already seen articles calling the 401(k) a 101(k)....more
To reduce risk of later attack on the domestic partnership agreement, domestic partners should make fair and reasonable financial disclosures to each other prior to signing the agreement. Each partner should disclose to the...more
The U.S. Department of Labor (“DOL“) recently heard public comment to its proposed regulatory changes implementing a fiduciary duty on any individual receiving compensation for advice tailored to a plan sponsor, participant...more
On July 21, 2015, the Internal Revenue Service (IRS) issued IRS Announcement 2015-19 stating that the determination letter program for individually designed tax-qualified retirement plans (plans that are not based on...more
How Retirement Plan Providers Can Avoid Communication Problems.
It's all about relationships and communication.
Life is all about relationships, whether it's family, friends, or business. Whether it's starting a...more
Second Circuit Holds That Posthumous QDROs Are Valid. Yale-New Haven Hospital brought an action in federal court to resolve competing claims by a former spouse of a deceased participant and the deceased participant’s...more
Good Bets by a 401(k) Plan Sponsor to Avoid Liability.
As close to a sure thing you'll get. I don't gamble because I don't like to lose and that's a big problem about gambling because people do lose. I stopped playing...more
The purpose of a settlement agreement is to resolve some or all of the outstanding issues in a pending case. In the divorce context, it is common for attorneys to use broad language in their agreements related to the...more
I always tell this story because it’s funny: I went to a Jewish day school that didn’t provide lunch, so I had to brown bag it everyday. On one day, my mother forgot to put in my can of Coca Cola in the bag and instead put in...more
Life is a numbers game. Whether it’s business, family, or pleasure, numbers do matter. What the numbers say today, may not say tomorrow and you can often predict the future of the numbers because demographics are pointing the...more
The IRS issued Notice 2015-49 (the "Notice") on July 9, 2015, effectively ending the ability of sponsors of qualified defined benefit pension plans ("DB Plan") to "de-risk" their plans by offering participants in pay status...more
Supreme Court: Plan Fiduciaries Have a Continuing Duty to Monitor Plan Investments. In 2007, participants and beneficiaries under a 401(k) plan sued the plan fiduciaries and the plan sponsor to recover damages for alleged...more
Two new Oregon laws establish policies regarding employer criminal background checks and questions for applicants and a state-run retirement savings plan. In part, Enrolled House Bill 3025 (HB 3025) bans the practice by some...more
In This Issue:
- How Retirement Plan Advisors Can Benefit From Any New DOL Fiduciary Rule
- Avoid Other Providers Who Are The Sticks in the Wheels of Progress
- Sometimes It's Just Words
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