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Showing entries with the topic “Plan Design”.
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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
In the famous (at least to me) original Star Trek episode Mirror, Mirror, Captain Kirk and his crew are accidentally transported to a parallel universe where everyone is evil instead of good, and they are expected to be the same. A recent post by Choose FI regarding 403(b) plans made me thin…Read more
Does your plan have any participants who are missing? I can nearly guarantee that it does, as I have never come across a plan where at least one participant’s mail has been returned as undeliverable. In large plans, there are sometimes hundreds, or even thousands, of these missing indivi…Read more
My latest binge-watch is Hell's Kitchen, a reality show in which super-chef hopefuls are put through a cooking boot camp of sorts, with well-know chef (and yeller) Gordon Ramsay as their drill instructor. And yes, I am fully aware that retirement plan expertise does not necessarily translate i…Read more
After releasing last week’s Compliance Alert on the retirement plan-related provisions included in the recently enacted budget bill, I received a number of questions from people whom, I suspect, were taken aback that there were even retirement plan changes to address, since tax reform came and …Read more
Physician on FIRE, a popular blogger in the FIRE (Financial Independence Retire Early) movement, wrote an article recently that caught my attention. In the piece, he examined the reasons why physicians continue to work after the age at which they could retire comfortably. While the artic…Read more