Giving Thanks to Plan Participants, Plan Sponsors and the DOL

Thanksgiving is my favorite holiday. Lots of food, football, good cheer and you don’t have to buy presents. It is also a time to reflect and be thankful for the good fortune in our lives, and for those who love us or have helped us in some way. I am thankful to many in the retirement plan industry who I have partnered with and learned … Continue reading Giving Thanks to Plan Participants, Plan Sponsors and the DOL

What to Expect When Transitioning Providers

The thought of moving from one service provider to another may be intimidating and overwhelming. It doesn’t have to be. If you work with an experienced conversion team, the process should be seamless. If a plan sponsor is unhappy with its current provider’s services and technology, it may very likely want to switch providers. Furthermore, if the plan sponsor feels it or its participants are not … Continue reading What to Expect When Transitioning Providers

“Conflict of Interest” or “Fiduciary” Rule: A Plan Sponsor’s Q&A – Part II

Last month we featured the first part of our Q&A series. Now enjoy the final five questions and wrap-up. After years of proposed regulation issuance, comment periods, drafting and anticipation, the Department of Labor (DOL) finally published final guidance regarding the definition of “fiduciary” on April 8, 2016. It is important for plan sponsors to understand the reasoning behind, and the scope of, the final … Continue reading “Conflict of Interest” or “Fiduciary” Rule: A Plan Sponsor’s Q&A – Part II

Participants, Missing Participants, Education, Communication

Locating Missing Participants

At one time or another all plan sponsors will likely be in the position of having to locate missing participants. This may be related to delivery of regulatory required communications, distributing of assets, or communicating fund changes to active and/or terminated participants. If the delivery of necessary communications is encumbered because a participant cannot be located there exists a fiduciary requirement to perform a “reasonable … Continue reading Locating Missing Participants