Top of Mind

Showing entries with the topic “Plan Design”.

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Oct 2019

Small Balance Cash-Outs: The One Provision that Doesn’t Make Sense

Does your retirement plan have a mandatory cash-out provision for account balances of $5,000 or less, where terminated employees automatically receive a distribution unless they elect otherwise? This provision, when properly administered, greatly minimizes the number of missing participants in a pla…

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Sep 2019

Top of Mind Mailbag: The Roth Conundrum

On occasion, a Top of Mind blog post generates so many reader comments that it is worth sharing. This was the case with our recent piece on the Roth Conundrum. Below are some of the comments we received in our “mailbag”: One email addressed the potential future changes in tax law:“Great read on Rot…

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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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