Retirement Plan Benefit Plan Sponsors Third Party Administrators

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How Retirement Plan Advisors Can Benefit From Any New DOL Fiduciary Rule

One of my favorite companies is Netflix. The first time I came into contact with them, it was through an offer that was in the box of the first DVD player I bought in 2000. Instead of rentals through Blockbuster or Hollywood...more

Things in a 401(k) Plan That Don’t Look Right

They always say that you should never judge a book by its cover, but people do. People say you shouldn’t judge people by their appearance and they do. Just because something doesn’t look right, doesn’t mean it isn’t right....more

Employer’s Excuses About Their Retirement Plan And Why They’re Wrong

When dealing with my children and many adults, I hear many excuses why things don’t get done correctly. No one wants to accept re- sponsibility for their ineptness; they just cling to these excuses. Plan sponsors don’t have...more

As a Retirement Plan Provider, Things You Should Let Go

A few years back, I would hear “Let it Go” from the movie Frozen every 5-7 minutes. It was a great song from a great movie, but it was a little unnerving to hear it 7-10 times on a short car trip. Then it stopped, my children...more

A Plan Sponsor’s Foolproof Way To Getting In Trouble

The foolproof method to getting inves- tigated for tax evasion? Stop filing your taxes. The foolproof method to get hit by a car? Run into mid-town traffic. The foolproof method to get the chicken pox? Don’t take the vaccine...more

The Worthlessness Of The 401(k) Fiduciary Warranty

I am a firm believer in the idea that what you see is what you should get. If you’re promised the moon, anything short of that is wrong. Some of the biggest disappointments in my life is when I was sold a bill of goods that...more

Retirement Plan Sponsors Need To Care About Plan Design

If you had your eyes set on a car and one model gave you 25 miles to the gallon and the other model gave you 45 with no difference in features or price, what would you choose? If you can find a coupon for items you were...more

Another 10 Wrong Ideas That Plan Sponsors Have About Their Retirement Plans

Most of the time, sequels suck. Except for perhaps Terminator 2 and The Godfather Part II, most sequels are like such bombs as Caddyshack II and Beyond the Poseidon Adventure. Despite this dislike of sequels, giving Plan...more

The Top 10 Wrong Ideas That Plan Sponsors Have About Their Retirement Plans

People can get the wrong idea at times. I’ll never understand what Fred Silverman was thinking when he made Jean Doumanian the successor to Lorne Michaels as Executive Producer of Saturday Night Live or when he imported Pink...more

Tread Carefully with Plan Provider Referrals

As a retirement plan provider, you are often asked to give a referral to other retirement plan providers. If you are a financial advisor, you maybe asked for a referral for a third party administrator or an ERISA attorney....more

The Rosenbaum Law Firm Review - February 2015

In This Issue: - Small Steps That Plan Sponsors Can Take To Limit Their Fiduciary Liability - "Plain" Advice to Retirement Plan Sponsors - Pick Plan Providers Just Because They Are Cheap Is A Bad...more

“Plain” Advice to Retirement Plan Sponsors

I don’t know about you, most of the advice I got growing up was usually wrong. Maybe some very unsuccessful people surrounded me when I was younger, but advice can be biased and self-serving at times. The best advice I would...more

Focusing too much on Plan fees isn’t healthy either

I remember as a kid that there was move to use margarine because of the cholesterol that was in butter. Who can forget those talking Parkay carton commercials? Of course, we later learn that many margarines had high amounts...more

2015 New Year Tips for Retirement Plan Providers

With a new year, comes a renewed focus on business now that the holidays are behind us. For the retirement plan provider, there is never enough time to rest on their laurels because of the competitive nature of the business....more

Rosenbaum Law Firm Review - January 2015

In This Issue: - Stuff That Prospective 401(k) Plan Providers Tell You That's True - The Conduct Code for Retirement Plan Sponsors - Stuff That Won't Help A Retirement Plan Sponsor Limit Their...more

The Conduct Code for Retirement Plan Sponsors

When we were in school, there was a conduct code. For some of us that have occupations that require a license, we have a code of conduct to follow as well. Unfortunately for plan sponsor, no one ever tells them that their...more

Plan Sponsor may be wise to get a second opinion

If you don’t feel right and you go to the doctor and you get some grim or fantastic news about your health, isn’t it a good call to get a second opinion? Especially with certain types of cancer, speaking to a different doctor...more

The Rosenbaum Law Firm Review - December 2014

In This Issue: - Stuff That Prospective 401(k) Plan Providers Tell You That's True. - An Employer's "Recipe" for having a Great Retirement Plan. - Why An Employer Can And Should Set Up A Retirement Plan...more

An Employer’s “Recipe” for having a Great Retirement Plan

Every good meal needs a good recipe and every good recipe needs good ingredients. While many products out there have secret ingredients (Coca- Cola), others have secret ingredients that aren’t (that Big Mac special sauce is...more

Tales of a Former TPA Attorney

I was very lucky that when I started as an ERISA attorney in 1998, I worked as a staff attorney for third party administrators (TPAs) because it gave me insight and experience that I could never have gotten as an attorney...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

A Retirement Plan Sponsor’s Guide for Selecting Their Financial Advisor

When it comes to your role as a retirement plan sponsor, outside of hiring a TPA (third party administrator), the most important plan provider that you need to hire is a financial advisor. Unfortunately, like my favorite...more

A Simple Q&A for Retirement Plan Providers

When I was an associate at a semi-prestigious Long Island law firm, the goal was that I would start a national single employer retirement plan practice. I couldn’t have my articles published because the marketing department...more

The Plan Checklist That Every Retirement Plan Sponsor Needs

While they don’t have a book called Retirement Plan Sponsorship for Dummies, they should. So in the interim, here is a checklist that plan sponsors should review that can help them develop good practices and avoid unnecessary...more

Future Threats That a 401(k) Plan Sponsor Should Be Aware Of

What was good yesterday might not be a good today. Asbestos was a great fireproof building material until it was found to cause asbestosis and malignant mesothelioma Thalidomide was a great drug for morning sickness until it...more

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