PODCAST: Williams Mullen's Benefits Companion - Time to Tidy-Up Plan Documents
The next installment of our updates on SECURE 2.0 is on another new in-service withdrawal option. SECURE 2.0 allows plan sponsors of defined contribution plans to amend their plans to allow plan participants who are victims...more
It’s been happening a lot lately: a plan sponsor with several participating employers, not realizing that participation agreements for some of these employers weren’t done. This is just a silly mistake to make....more
When it comes to retirement plan servicing arrangements for most public agencies, there are basically two flavors: bundled and unbundled. It is important for public plan sponsors and plan fiduciaries to understand the...more
In 1993, I wanted a Hewlett Packard LaserJet printer. They were all black and white printers in those days and the cheapest you could find at the time was around $900-$100. At the time I was buying a PC Clone 486DX-33 (that...more
After annoying many plan sponsors and plan providers by increasing user fees for their voluntary compliance program (VCP), the Internal Revenue Service (IRS) goes the other way by increasing the number of opportunities for...more
This is Spinal Tap has the great line that “there is a fine line between being clever and stupid.” The same can be said with plan provisions that are what I call: “out of the box.” I call it out of the box because it reminds...more
The Eventual Comeback Of MEPs. It's inevitable. Sometimes what is old is new again. Over the years, clothing styles, hairstyles, political styles, movie styles, and television program styles may come back after being...more
Last week, we discussed four of the five most common compliance mistakes made by 401(k) plan administrators and fiduciaries, the potential liability associated with such mistakes, and steps you can take to avoid making them...more
Welcome to the third installment of this series! This week, we are discussing the five most common compliance mistakes made by 401(k) plan administrators and fiduciaries, the potential liability associated with such mistakes,...more
I know a thing or two about the virtues of flat fee billing, have done my legal work on the scale while working for a couple of third party administration (TPA) firms. Plan documents, plan amendments, and plan terminations...more
Sponsors of qualified retirement plans and group health plans may receive tens, if not hundreds, of plan document requests every year. Responding to these requests in accordance with the rules set forth under the Employee...more
Henry T. Ford is considered the father or the pioneer of the modern day assembly line of manufacturing. His development of the Model T and its way of manufacturing is considered one of the great developments in 20th century...more
The Struggles Of Being A Retirement Plan Provider And How To Manage It. What you have to deal with. Being a retirement plan provider is like any other business in the sense that it has to be managed in a way...more
Things About Plan Providers That Shouldn't Impress Plan Sponsors. Don't get bamboozled. There are certain things in life we really should be impressed by, but we always end up being impressed by the wrong...more