Hey Joel! – Answers from a recovering former practicing ERISA attorney

Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, Is it okay to use the same company for my plan’s recordkeeping, 3(38) advisory services, and administration? ~ Consolidating in California Dear Consolidating, It may seem logical to bundle all of … Continue reading Hey Joel! – Answers from a recovering former practicing ERISA attorney

Hey Joel! One of my current employees recently received a notice from Social Security saying they might be entitled to a retirement benefit. Is it my responsibility to track this money down?

Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, One of my current employees recently received a notice from Social Security saying that they might be entitled to a retirement benefit. Is it my responsibility to track this money down? … Continue reading Hey Joel! One of my current employees recently received a notice from Social Security saying they might be entitled to a retirement benefit. Is it my responsibility to track this money down?

Hey Joel! Should Stable Value Information Be Included In Our Investment Policy Statement?

Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, Should stable value information be included in our investment policy statement? ~ Paranoid in Portland Dear Paranoid, The cash or principal preservation alternatives can be quite varied in scope. As a … Continue reading Hey Joel! Should Stable Value Information Be Included In Our Investment Policy Statement?

Hey Joel! What’s the Appropriate Number of Members and Positions for a Retirement Plan Committee?

Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, What’s the appropriate number of members and positions for a retirement plan committee?  ~ Plannin’ in Pennsylvania   Dear Plannin’, There is no specific guidance on the appropriate number of committee … Continue reading Hey Joel! What’s the Appropriate Number of Members and Positions for a Retirement Plan Committee?

Hey Joel! – Should we consider life insurance in our retirement plan?

Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, Should we consider life insurance in our retirement plan? ~ Beefin’ up my plan in Buffalo Dear Beefin’, I’m not a fan of having this type of "investment" within a retirement … Continue reading Hey Joel! – Should we consider life insurance in our retirement plan?

Hey Joel! – My client wants to conduct an RFP for an ERISA attorney, what are important questions they should include?

Dear Questioning, While it is a somewhat unusual step to formally RFP for an ERISA counsel search, it can be a good exercise to ensure your client finds the best fit for their organization. Note, ERISA counsel typically does act in a fiduciary capacity in providing legal advice, so selection of ERISA counsel would likely not … Continue reading Hey Joel! – My client wants to conduct an RFP for an ERISA attorney, what are important questions they should include?

Hey Joel – Will Hardship Suspensions Go Away in January 2019?

Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, Will hardship suspensions go away in January 2019? If someone takes a hardship today, do we stop the suspension on Jan. 1, 2019? ~ Anxious in Alabama Dear Anxious, First, understand … Continue reading Hey Joel – Will Hardship Suspensions Go Away in January 2019?

Hey Joel! – Can I avoid an audit by splitting my employees into two plans?

Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, Can I avoid an audit by splitting my employees into two plans? ~ Fingers Crossed in Florida Dear Fingers, There are some organizations out there promoting this approach. Here is the … Continue reading Hey Joel! – Can I avoid an audit by splitting my employees into two plans?

Hey Joel! My Prospect is a 501(c)(3) Org. Are They Eligible for a 401(k) Plan?

Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, My prospect is a 501(c)(3) organization that is not affiliated with a church or school. Are they eligible for a 401(k) plan? Are there any benefits over a 403(b) plan? - … Continue reading Hey Joel! My Prospect is a 501(c)(3) Org. Are They Eligible for a 401(k) Plan?