News & Analysis as of

Plan Prospecting Tools only show you part of a Plan’s problem

As a retirement plan provider, tools like Brightscope, fi360, Fiduciary Benchmarks, and FRA Plan Tools among others, are great resources to prospect prospective clients....more

Department of Labor Opens the Door to Questioning Brokerage Windows Under 401(k) Plans

A request for information ("RFI") by the U.S. Department of Labor ("DOL") was published on August 21, 2014 regarding the use of so-called "brokerage windows" under retirement plans, such as many Section 401(k) plans, that...more

Prune those 401(k) Plan Investment Lineups

We are a nation of over abundance and we should be grateful for that. The problem is that over abundance can lead to a life of excess. We are often told that more is more and the problem is that there are many times where...more

An Education Policy Statement is not Magic

Any type of item that keeps you in health is a good thing as long as you use it. So the floss I bought after my last checkup and the exercise equipment that I bought my wife a few years ago that is collecting dust are...more

Update For Retirement Plans Post-Windsor

Now that some of the dust has settled on the U.S. Supreme Court’s decision in U.S. v. Windsor, employers who haven’t done so already should take immediate steps to review their retirement plan documents and administrative...more

A New Reality for ESOP Fiduciaries - Company Stock Investments for Employee Participants in Retirement Plans of Public and...

For the ESOP fiduciary of a publicly traded employer, the Supreme Court has made clear that non-public insider information is not required to be used in reaching a decision to buy, hold or sell employer securities....more

Plan Sponsors’ Misconceptions About Retirement Plan Fee Disclosure

To me, there is no greater television show than Seinfeld because it’s timeless and there is something about each episode that reminds you of normal day life. In the reverse chronology episode set in India called “The...more

Retirement Benefits: Missed Deferral Opportunities

The Issue: When an employer fails to take into consideration all forms of compensation (e.g., commissions, bonuses, etc.) for purposes of employee deferrals to its 401(k) Plan, is that a problem?...more

Avoiding the Top Retirement Plan Mistakes - Checklist

In This Presentation: - Eligibility Errors - Vesting Errors - Compensation Errors - Distribution Errors - Loan Errors - Testing Errors - Other Errors and Things to Consider Excerpt from...more

View From McDermott: Having Their Cake and Eating It Too—An Employer’s Guide to Managing Retirement-Eligible Employees Who Want to...

‘‘I would like to start receiving my retirement benefits now, but I would also like to keep working for a bit. Can I do this?’’ Baby boomers pose this question to their employers on a routine basis. Unfortunately, there is no...more

Retirement Benefits: Which Way Does the Whistle Blow?

The Issue: A terminated employee makes a claim against the employer for damages. The company says it fired him for stealing from the company. He says it was in retaliation for reporting law violations by the employer (that...more

Defined Benefits Plans are to save $$$, not to make insurance salesman crazy $$$$

While the talk about retirement plans is usually centered on 401(k) plans, the value of a defined benefit plan for those companies that could afford it should not be discounted. Thanks to the generous deductible contribution...more

ERISA 3(38) Fiduciaries, Big Tuna, and Buying Groceries

When the great Bill Parcells (go Big Blue!) was the head coach of the New England Patriots, he got into a tiff with owner Robert Kraft because Parcells wanted more of a say in the personnel decision-making process. Parcells...more

Court of Appeals Issues Decision Regarding Vesting of School District Retiree Health Insurance Benefits

On December 12, 2013, the New York Court of Appeals issued a decision in Kolbe v. Tibbetts, in which the Court addressed whether the Newfane Central School District could unilaterally alter the health insurance benefits of...more

March and April 2014 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties and excise taxes. To...more

I am Glad You Asked! Using Welfare Benefit Trusts to Solve Post-Retirement Medical Planning Needs

Part I - Overview: Scott Peck’s bestseller the Road less Traveled begins with the understatement of understatements – “Life is difficult”. Trouble in life comes from so many different directions. For the small...more

Two trains of thought for the new Financial Advisor regarding the Plan’s TPA

One of my least favorite sayings is: “if it ain’t broken, don’t fix it.” I detest it because it suggests complacency of something that is mediocre. It kind of reminds me of when New York City Mayor Ed Koch was running an...more

Offering Self Directed Brokerage Accounts in a 401(k) Plan is a Bad Bet

I love Las Vegas and I hate to gamble, which explains why I haven’t been to Atlantic City since 1995. I love the sights, sounds, the entertainment, the food, and everything but gambling. I hate gambling because I don’t like...more

The Problem With Retirement Plans

Over the past 30 years, a dramatic change has taken place in the use of retirement plans to help people save for their later years....more

Fiscal Cliff Legislation Provides New In-Plan Roth Conversion Opportunity

The newly enacted American Taxpayer Relief Act (H.R. 8) includes a significant new opportunity to perform “in-plan” conversions of pretax dollars to Roth (after-tax) dollars of funds held in defined contribution retirement...more

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