PODCAST: Williams Mullen's Benefits Companion - Can Employers Impose a Health Insurance Surcharge on Plan Participants Not Vaccinated for COVID-19?
A plan sponsor was spared from a 403(b) lawsuit, but the advisor is still on the hook. Two plaintiffs filed a complaint in Texas federal court against their employer, Legacy Counseling Center, Inc. the plan’s manager,...more
Estate planning is a team effort and the lineup of individuals and professionals that you choose for your team roster will determine the integrity of your plan for years to come. An all-star lineup for your estate plan should...more
A financial advisor called me and asked me if there was a problem that an insurance policy paid by a 401(k) plan had the policy in the name of the participant. Considering it was a plan asset, I thought so. If the participant...more
The holiday season is always a busy and eventful time, so you may have missed a new law that can impact how you plan for your retirement assets. On December 20, 2019, as part of a more comprehensive appropriations act, the...more
As a 401(k) plan sponsor, you need to understand that an integral part of limiting your liability when participants are having plan enrollment/education meetings....more
There are so many articles for plan sponsors (I’ve written quite a few) where they go on and on about what plan sponsors need for a successful 401(k) plan. Rather than go into a whole diatribe, here is a Reader’s Digest of...more
The Help Plan Providers Need And What They Don't. Avoid the people who want to sell you everything. When you're in business as a retirement plan provider, you will see that there is a surge of humanity that wants to...more
Providing advisory help to a 401(k) plan is a great part of a financial advisor’s business because it can grow to ancillary lines of business such as working with the decision makers of the plan and their money....more
You can be a great financial advisor and have a terrific way of communicating with plan sponsor clients, but that doesn’t mean you can effectively communicate with plan participants....more
When gauging the effectiveness of the retirement plan’s financial advisor, one thing that 401(k) plan sponsors forget to consider is the interaction between the advisor and the plan participants....more
Charles Schwab announced their 2016 401(k) participant survey and it states the obvious: 401(k) participants need help. Less than half (43%) of participants know how much they should save for retirement. Fewer that...more
The fixation and discussion about plan expenses usually flares up when the stock market isn’t doing well. Two major corrections within a 10-year period (2000-2010) made fee disclosure regulations inevitable. With the way the...more