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Showing entries with the topic “Administration”.

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16

Aug 2018

Why Financial Literacy Would Have Been Lost on My Younger Self

Properly executed financial literacy, financial wellness - or whatever you want to call campaigns that aim to prevent people from making poor choices with their money - are a tremendous benefit. However, traditional programs can have difficulty attracting an audience. Back when I needed it the most …

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02

Aug 2018

Making Sense of Auto-Enrollment Rules

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…

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26

Jul 2018

Teach Your Children to Save

My son has $400 in his savings account. Now, that might not sound like a lot, but consider the following: My son is 12 and does not yet have a job His father, who has been working continuously since he was 11, did not have any savings until he was in his thirties; and outside of retirement, strug…

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19

Jul 2018

Why Median > Average When it Comes to Retirement Plan Account Balances

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…

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12

Jul 2018

Don’t Hire an Investment Advisor!

Did the headline catch your attention? I know it sounds bizarre, given that our firm provides, well, investment advisory services - but hear me out.  The majority of Requests for Proposal (RFPs) that we receive are for investment advisers or investment consultants.  However, the plan spons…

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28

Jun 2018

The Differences Between 403(b) and 401(k) Pricing

While there are some exceptions, particularly among the very largest of retirement plans, the recordkeeping fees for 401(k) plans are generally less expensive than those for 403(b) plans of the same asset size. Why is this you might ask?  The answer is that 403(b) plans are fundamentally dif…

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21

Jun 2018

Fiduciary Best Practices for Public University Retirement Plans

Last week, I had the pleasure of attending a webinar hosted by my colleagues, Joey Payne and Jeff Levy of Cammack Retirement Group, and Eric Paley of Nixon Peabody. The webinar examined best practices for public university retirement plan fiduciaries in the current litigation and regulatory environm…

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