There are 4 key areas for plan sponsors to understand that will help you manage your fiduciary liability with confidence. Excessive Plan Fees Selecting Imprudent Investments Failing to Follow Plan Document Terms Late Participant Contributions Excessive Fees In the...
In case you missed it while you were busy with your daily duties, the DOL Rule (aka Conflict of Interest Rule) went live on June 9th. It only took 7 years to draft, craft, and compromise against fierce resistance from lobbyists, politicians, and financial...
Most owners and Plan trustees understand that they are Plan fiduciaries. However, most are unaware of the full scope that fiduciary duties entail. Hence, the false belief that in hiring service providers they relieve themselves of these duties. It is true that...
“Tell me where a man gets his corn pone and I’ll tell you his opinions.” Mark Twain The political tug of war between the Department of Labor (DOL) and the financial industry is over five years old. The DOL Fiduciary Rule, also known as the “conflict of interest” rule...
Small business owners, their trustees, administrators, and human resource professionals seldom have the time and resources to understand the full range of fiduciary roles, risks, and responsibilities associated with managing a 401K Plan. It’s somewhat perverse in that...
Unless you, the Plan Sponsor/Employer, are sadistic you likely haven’t delved the dense layers of the ERISA fiduciary code! Yet ERISA’s mind numbing legalese contains vital information regarding your fiduciary roles, risks, and responsibilities. If you don’t know...
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