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Showing entries with the topic “Plan Design”.
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The proposed hardship regulations were issued less than a month ago, but there already appears to be a lot of misunderstanding among plan sponsors and those who work with them. Based on the numerous questions we’ve received these past few weeks, it appears that the biggest misconceptions are as fol…Read more
In my experience, most of the retirement plans that are eligible to maintain a hardship distribution provision (defined benefit and money purchase plans cannot, and 457(b) plans can only permit distributions for unforeseeable emergencies, which are a different animal entirely) do indeed allow funds …Read more
In this week’s Top of Mind, Mike Webb shares some key takeaways from his recent P&I webinar on healthcare and higher education retirement plans.Read more
Surprise--Your Retirement Plan Participants May Be Hiring Advisors and Using Plan Assets to Pay for Them
In this week's Top of Mind, Mike Webb discusses retirement plans that allow participants to hire individual advisors and pay them using plan assets.Read more
Yes, I Know You Don’t Want to Conduct a Retirement Plan Recordkeeper RFP. But Here’s Why You Should.
In this week's Top of Mind, Mike Webb explains why plan sponsors can benefit from going through the RFP (request for proposal) process.Read more
While the IRS means well, when reviewing some of the regulations, I cannot help but wonder if someone was thinking, “How can I make this as difficult to understand as possible?” Such is the case with automatic enrollment. To start, the IRS doesn’t call it auto-enrollment, they refer to it as an “au…Read more
In a recent article by Barry Ritholtz, he mentions a concept that should be drilled into every retirement plan sponsor’s head when they review their recordkeeper statistics as to the success of their retirement plan: median is more significant than average. In the retirement plan’s “dashboa…Read more
Generally, automatic enrollment has been a positive development for retirement plans, as it forces individuals who may not ordinarily save to do so at an important time - the commencement of their working careers. However, auto-enrollment is not a panacea. For example, it has negatively im…Read more
Advisors have a variety of tools at their disposal to determine the overall health of a plan sponsor’s retirement plan. However, there is a time-tested exercise that only takes about a minute to complete: review the current account balances of all the participants in the retirement plan and complete…Read more
In last week’s Top of Mind, we attempted to simplify the concept of revenue sharing in retirement plans. This week, I will attempt to build upon that by demystifying the even more elusive practice known as fee leveling. What is fee leveling? Last week, we explained how different …Read more