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That Fiduciary Warranty Is Not Worth The Paper it’s Printed On

by Ary Rosenbaum on

A 401(k) plan sponsor is also a plan fiduciary and they have the responsibility to prudently run their plan. One major issue for a plan sponsor to figure out is which plan providers will mitigate some of their liability by...more

The Word On The Street On What 401(k) Plan Sponsors May Need

by Ary Rosenbaum on

The greatest thing about the Internet is the distribution of information that people used to have to rely on an Encyclopedia or other reference materials to find out information on a specific topic. This is so true of...more

Never Hire Your Friends Or Family As Your Retirement Plan’s Financial Advisor

by Ary Rosenbaum on

I live in an unincorporated village in Nassau County called Oceanside. We have a school board there that doesn’t have issues about hiring friends and family for teaching positions and low paid aide positions. In fact, 3 out...more

A Call For A New Standard For Financial Advisors

by Ary Rosenbaum on

Over the last 10 years, there has certainly been a revolution among 401(k) financial advisors about the need and concern of good fiduciary practices for plan sponsors. The days of 401(k) financial advisors never showing up to...more

The Most Avoidable Errors Of A 401(k) Plan Sponsor

by Ary Rosenbaum on

There are a lot of times where you’ll suffer a mishap because there are certain things beyond your control. However, there are many instances out there where a mishap occurs because you failed to do something so simple like...more

A Plan Sponsor’s Guide To Selecting Retirement Plan Providers

by Ary Rosenbaum on

Since I was about nine and saw it on HBO, one of my favorite movies has been Caddyshack. I loved Caddyshack years before I even liked golf and years before I was mature enough to get all the jokes. One of my favorite scenes...more

Things That Plan Providers Don’t Tell You as a 401(k) Plan Sponsor

by Ary Rosenbaum on

When my wife and I bought our house, there were quite a few things that the previous owner forgot to tell us such as the fact they never bothered to pull the pipes from the dental office run by a previous owner 20 years...more

Plan Providers Should Encourage Participants To Rollover Assets

by Ary Rosenbaum on

There are so many issues in advising retirement plan sponsors in your role as a retirement plan provider that you may forget a thing or two that could help your clients and you in the long run. One facet of the business that...more

The JD Supra Top 50 - Popular Legal Topics in 2017

by JD Supra Perspectives on

A look at some of the most popular topics on JD Supra during all of 2017....more

Whether A Plan Sponsor Should Hire An ERISA §3(16) Administrator

by Ary Rosenbaum on

Running a business is a complicated activity. You have to be an expert in your field, service, or specialty. In order to get your work, there is a point where you will need to outsource some key employer functions such as...more

It Happened! Changes In The 401(k) Industry That Could Affect Your Plan

by Ary Rosenbaum on

I’ve been a boxing fan since I was a kid when Marvin Hagler, Larry Holmes, Aaron Pryor, Tommy Hearns, Sugar Ray Leonard, and Mike Tyson were the premier boxers. One of my favorite boxing moments was in 1994 when 45-year-old...more

Plan Sponsors Need To Deal With A Whole New 401(k) World

by Ary Rosenbaum on

I’ve been an ERISA attorney for over 19 years and 401(k) plans have dramatically changed because of law changes, technological change, and changes in the marketplace. The problem is that most plan sponsors are stuck back in...more

Retirement Plan Sponsors Can’t Afford To Be Cheap

by Ary Rosenbaum on

There is nothing wrong with being thrifty. You should never pay full price for something that you can get on a discount. Being thrifty is different from being cheap. Being cheap is about not wanting to pay for something just...more

How A Plan Provider Should Handle Employees

by Ary Rosenbaum on

I always say that the main reason that I don’t want to have employees is that I was an employee once too. An employee wants to get paid as much as possible and the employer wants to pay as little as possible. I have yet to...more

Plan Features And Services Aren’t A Fit For Every Plan Sponsor

by Ary Rosenbaum on

Did you ever buy a car and the dealer was trying to sell you things you didn’t really need like etched glass and under carriage treatments? Well, retirement plan sponsors are sold services that many times they really don’t...more

How 401(k) Plan Sponsors Can Avoid Turning Their Plan Into A Disaster

by Ary Rosenbaum on

I’m a movie fan especially a fan of movies from the 1970s. One genre of movies made famous during the 1970s was the disaster movie. The Poseidon Adventure, Airport, and The Towering Inferno led to a great successful genre...more

Advisors Advantage - November 2017

by Ary Rosenbaum on

The Bottom Line For Retirement Plan Providers. More plan assets for your clients is a good thing for many reasons. When I had the idea of starting a National ERISA practice 10 years ago, I knew I would have a tough time...more

IRS announces 2018 retirement plan limits

by Ary Rosenbaum on

As 2017 nears its end, we already have the retirement plan limits set for 2008 by the Internal Revenue Service (IRS). For 401(k) plans, the 2018 limit for salary deferrals contributions is $18,500, up $500 from 2017’s...more

It Looks Good On Paper For The 401(k) Plan Sponsor, But…

by Ary Rosenbaum on

Often there are things that look good on paper and don’t look good in practice like an Apple Newton or Incredible Universe. Those business bombs cost the businesses that pushed them out. For 401(k) plan sponsors, they can ill...more

The Bottom Line For Retirement Plan Providers

by Ary Rosenbaum on

When I had the idea of starting a National ERISA practice 10 years ago, I knew I would have a tough time in getting clients especially when the law firm I was at had partners that weren’t interested in selling my services to...more

What To Avoid In Hiring Plan Providers As 401(k) Fiduciaries

by Ary Rosenbaum on

A plan sponsor has so many things to do in running a business that they often forget that as a 401(k) plan sponsor, they are also a plan fiduciary. Being a plan fiduciary requires the highest duty of care in equity and law....more

How And Why Plan Providers Should Help Increase 401(k) Plan Assets

by Ary Rosenbaum on

Many years ago, I was an ERISA attorney working for a “producing” third party administrator (TPA) that was very successful because of its in-house registered investment advisory firm advising a good portion of the 401(k)...more

Retirement Plan Features Going The Way Of Bell Bottoms and Betamax

by Ary Rosenbaum on

The retirement plan business is like pieces of technology; there are features and concepts out there that are going the way of bell bottoms and Betamax. As a retirement plan sponsor, you need to be up to date with the changes...more

Good Housekeeping Tips Every 401(k) Plan Sponsor Should Follow

by Ary Rosenbaum on

Good housekeeping isn’t just about keeping your house clean, it’s about keeping everything in order. When it comes to being a 401(k) plan sponsor, good housekeeping isn’t about dusting and putting baking soda in the...more

What They Don’t Know As A 401(k) Sponsor May Hurt Them

by Ary Rosenbaum on

When I worked at a semi-prestigious law firm, one of the named partners (whose son is a Congressman who was kind enough to offer me a cannoli at a Knicks-Clippers game a few years ago) asked me what my practice was. I told...more

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