Revenue Sharing Defined

There is much misunderstanding about what revenue sharing is and what it provides. As an overview, it reflects the acknowledgement by the fund company that a portion of its normal investment fee will no longer be incurred since a third party recordkeeper will be providing the services being shed.  For example, if a fund originating … More Revenue Sharing Defined

Financial Wellness Insights: Top Financial Goals

The majority of employees are concerned with retirement planning. Saving for retirement is the most commonly cited financial goal among employees, coming ahead of many short-term goals, including eliminating debt and creating an emergency fund.¹ In an analysis of data collected from 1,081 employees earlier this year, Retiremap found that saving for retirement is a … More Financial Wellness Insights: Top Financial Goals

Fiduciary Liability Insurance

Plan sponsors are often concerned with the prudence and process of obtaining insurance covering ERISA retirement plan fiduciaries. While fiduciary insurance is an important aspect in mitigating the financial impact of fiduciary litigation, there are a number of additional, important activities that are prudent for fiduciaries to embrace. ERISA fiduciaries are well advised to follow … More Fiduciary Liability Insurance

Are You Monitoring Your Forfeiture Account?

Qualified plans have a requirement to not carry forward any unallocated assets from year-to-year. Unfortunately, this rule is frequently neglected by plan sponsors, much to their chagrin when the failure is discovered on audit by the IRS or Department of Labor (DOL). Thus, it is important to remember that forfeitures must be allocated on an … More Are You Monitoring Your Forfeiture Account?

Pass or Fail? Corrective Actions to Remedy Your Test Results

Each year you receive a “pass” or “fail” from your service provider regarding required non-discrimination testing (the Actual Deferral Percentage test and the Actual Contribution Percentage test). The ADP/ACP tests govern the amounts of deferrals and/or matching contributions that highly compensated employees (HCEs) are allowed to make or receive in relation to those of non-highly compensated … More Pass or Fail? Corrective Actions to Remedy Your Test Results

IRS Retirement Plan Reporting and Disclosure Requirements

Administrators or sponsors of retirement plans are generally required by law to report certain information with the IRS, the Department of Labor, and the Pension Benefit Guarantee Corporation, and disclosure to affected parties depending on the plans’ type, size, and circumstances. Below is an excerpt from the IRS’s Retirement Plan Reporting and Disclosure Requirements regarding … More IRS Retirement Plan Reporting and Disclosure Requirements

2016 Tax Saver’s Credit

Participants may be eligible for a valuable incentive, which could reduce their federal income tax liability, for contributing to your company’s 401(k)or 403(b) plan. If they qualify, they may receive a Tax Saver’s Credit of up to $2,000 ($4,000 for married couples filing jointly) if they made eligible contributions to an employer sponsored retirement savings … More 2016 Tax Saver’s Credit

Educational Webinar

Retirement Plan Fees – Maximizing Provider Negotiations Retirement plan fee benchmarking is a very detailed and robust process that requires considerable knowledge of the industry as well as vast expertise in negotiating with plan providers. Join us for an educational webinar where we will discuss the key factors that are needed to maximize your leverage … More Educational Webinar