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Showing entries with the topic “Administration”.

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25

Feb 2021

Is the Final Fiduciary Rule Really Final?

Despite the new presidential administration hinting at a delay, the Department of Labor’s (DOL) Final Fiduciary Rule became effective on February 16, 2021. Since there has been more than a decade spent waiting for a rule to become the Final Fiduciary Rule, this is significant news. However, in a pr…

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18

Feb 2021

403(b) Plans: The Trendsetters for ESG Investing?

403(b) plans are rarely ahead of the curve on major retirement plan innovations. These plans were certainly not the early adopters of trends like per-head flat dollar pricing or zero revenue share funds. However, there is one area in which they are leading the charge: the adoption of Environmental, …

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11

Feb 2021

The “Best” Annuity Out There: The One Participants Already Have

A frequent question from participants transitioning from the accumulation phase to the decumulation phase of their retirement plan lifecycle is whether they should consider using some or all of their assets to purchase an annuity to lock in an income stream in retirement. Often, what these participa…

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04

Feb 2021

There’s Always Money in the Retirement Plan

In the cult classic TV sitcom, Arrested Development, one of the funniest scenes involved former CEO-turned-prisoner, George Bluth (played by Jeffrey Tambor), and his son, Michael Bluth (played by Jason Bateman). During a jailhouse visit to George, Michael indicated that there was money trouble, to w…

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28

Jan 2021

Post-CARES Act: A Checklist for Retirement Plan Sponsors

As of this writing, the loan and distribution provisions of the CARES Act have not been extended. This means that these provisions expired on or before December 31, 2020. Considering this, plan sponsors should ensure that any CARES Act provisions added to their retirement plans are administered in a…

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21

Jan 2021

Measuring ROI on Financial Wellness Programs

Considering the woeful state of employee financial wellness statistics and the number of individuals living paycheck-to-paycheck, employer-sponsored financial wellness program should be relatively effective. But how can we determine whether the programs are working as intended? There has not been a…

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14

Jan 2021

The Coronavirus Relief Bill: Few Concerns for Retirement Plan Sponsors

This time last year, retirement plan sponsors and those who work with them were focused on the ramifications of the SECURE Act, the first piece of retirement plan legislation in over a decade. Shortly thereafter, the CARES Act took center stage and left plan sponsors to deal with more changes. Towar…

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07

Jan 2021

The Final Fiduciary Rule: Déjà Vu?

On December 15, the Department of Labor (DOL) released what it calls “Prohibited Transaction Exemption 2020-02, Improving Investment Advice for Workers & Retirees,” more commonly known as the Final Fiduciary Rule. This comes after the Proposed Rule was released on June 29, with the comment period yi…

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17

Dec 2020

My Letter to Santa, 2020 Edition

Dear Santa: Allow me to apologize for not writing to you since 2017. My lack of correspondence should in no way be interpreted as a lack of enthusiasm for considering my inclusion on your nice list, or, even worse, as a lack of belief in your existence. I have been quite busy working with our ret…

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10

Dec 2020

Getting to the Bottom of Financial Wellness for Women

The challenges facing women as they strive to achieve financial wellness are unique - and this year’s pandemic has shed even more light on just how important the topic is. In collaboration with my peers at the Retirement Advisor Council, we look to highlight some of the key elements of this importan…

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