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Showing entries with the topic “Plan Design”.

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Jul 2019

Why Every Employee Should Be Auto-Enrolled

Back in April, I blogged about why auto-enrollment is always a good idea - but what I truly believe is that each and every employee in the country receiving a paycheck should be auto-enrolled in a retirement plan. Yes, every last one! New employees, existing employees, employees without retirement p…

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Jun 2019

Giving 403(b) a Bad Name

I was speaking recently to a 401(k) practitioner who does not work with 403(b) plans. When I explained that my primary practice was 403(b), he responded: “Why do you work with those terrible high-fee annuity plans?” I had to explain to him that the segment of 403(b) to which he was referring, the pu…

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May 2019

The Future of Retirement Plans

In our Revamping Retirement podcast, we have been addressing the evolution of the retirement plan landscape over the past 25 years. And a lot has changed - from technology, plan design and investments, to, of course, fees. But what might the next 25 years have in store for the future generation of r…

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May 2019

Required Minimum Distributions (RMDs): Why I’m Not a Fan

For regular blog readers, it’s no secret that there are certain retirement plan provisions which I could live without. While strides have been made over the years, in my opinion, the laws governing retirement plans remain needlessly complicated and have many unnecessary provisions. Required Minimum…

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Apr 2019

Why Auto-Enrollment is Always a Good Idea

Auto-enrollment has seen increasing adoption among plan sponsors of retirement plans. And for good reason: It is hard to find a reason why auto-enrollment is a bad idea! Yet, there have been some concerns. Some plan sponsors worry about the disruption auto-enrollment may cause employees. Since empl…

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Feb 2019

Beware of these Heavily-Marketed Recordkeeper Products

I often have retirement plan sponsors ask me, “What is your opinion of Product X?” More often than not, it is a product that has been aggressively promoted by their retirement plan recordkeeper. Now, to be fair to retirement plan recordkeepers, with lower fees and declining margins, they are in an i…

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Jan 2019

You Have a Retirement Plan Committee - But Do You Have a Committee Charter?

Retirement plan committees (which are sometimes broken down into separate committees such as an investment committee and/or an administrative committee) serve an important function to ensure that the plan fiduciaries fulfill their responsibilities. While most plan sponsors utilize these committees,…

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Dec 2018

The Proposed Hardship Distribution Regulations: Some Misconceptions

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…

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Nov 2018

Why Now Might Be the Time to Eliminate a Hardship Distribution Provision

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 …

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