Top of Mind

Showing entries with the topic “Plan Design”.

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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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Dec 2020

Revisiting Predictions: 2020 Retirement Plan Trends

This time last year, I made some predictions as to the hot retirement plan trends for 2020. Needless to say, this year turned out to be quite different than we all expected. But how did that impact our predictions? Let’s take a look: Prediction #1: “Employee Engagement 2.0,” with increased plan sp…

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Nov 2020

Plan Termination or Merger?

Whether an organization is looking to scale back the number of defined contribution retirement plans it maintains in order to simplify administration, or is forced to do so due to a merger or acquisition, understanding the difference between types of plan terminations is important. In some situation…

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Oct 2020

SECURE Act Refresher

Although it was signed into law on December 20, 2019, it seems like a decade ago that the SECURE Act was headline news. Between the COVID-19 pandemic and the flurry of legislative and regulatory activity in 2020, some plan sponsors have likely forgotten what was, at the time, the first piece of reti…

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Oct 2020

Should Retirement Plan Sponsors Be Limiting Plan Loans?

As I have written in the past, I am not a fan of retirement plan loan overutilization, for a variety of reasons. However, loan regulations clearly provide plan sponsors with a great deal of flexibility in this area, including the ability to be overly permissive, quite restrictive, or somewhere in be…

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Oct 2020

Why Grandfathering Can Backfire

On paper, grandfathering often sounds like a good idea when a retirement plan change might be perceived by existing employees as being a negative. Implementing auto-enrollment? Let’s not disrupt existing employees and only auto-enroll new ones. Cutting back on employer contributions due to COVID-19?…

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Sep 2020

Why "Six is the New Three" When It Comes to Automatic Enrollment

At last month’s Retirement Advisor Council annual meeting, I had the pleasure of sitting in on a session about participant retirement readiness, where Joe Smith made the statement: “six is the new three” when it comes to automatic enrollment. While I tend to be a sucker for snappy catch phrases, her…

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Aug 2020

More Questionable Retirement Plan Features

In a recent Top of Mind, and in our latest webinar, we shared some questionable plan features that came back to haunt retirement plan sponsors during the COVID-19 pandemic. But there are plenty of other questionable plan features that all too many plan sponsors adopt that can greatly increase plan a…

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Jul 2020

The CARES Act “Run on the Bank” That Wasn’t

Remember back in March when retirement plan recordkeepers were panicking about the COVID-19 pandemic and the related stock market plunge, allegedly fielding record volumes of calls from frantic participants who not only wanted to flee equity investments, but also wanted to take out their money entir…

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