Here things get a little familiar for companies with pre-existing stand-alone 401k plans (but may need to be discovered by those without plans).
Tag "ERISA"
Sometimes when you try your best, you still miss something important. And that could be the most dangerous miss you make.
The most pertinent issue may not be the fiduciary imperative, but the marketing imperative. This makes things extremely difficult for the 401k plan sponsor who may sometimes confuse which has priority. Hereâs an example of why a plan sponsor might be concerned.
He also reveals the greatest misconception regarding MEPs, what the SECURE Act really did, and when we might begin to see the mass media start paying attention.
Although weâve seen a broader acceptance of using an IPS, their use is by no means universal and particularly lacking among smaller employers. Perhaps thereâs a realization that, if you donât get the IPS right, youâll only increase your liability.
When youâre not an expert in an important job that you need done, what do you do?
If you think this evolution is amazing, just wait until you see what changes come about once the 401kMEP starts ramping up.
401k plan sponsors have a renewed focus on the three F-words of offering employee retirement benefits: Fiduciary, Fees, and Financial Wellness. Hereâs how plan sponsors answer questions related to each of these three F-words.
The One Topic Every 401k Plan Sponsor Must Know Right Now: Fiduciary Education Curriculum (Part III)
Most 401k plan sponsors will readily admit they are not experts when it comes to retirement plans. They understand they have a role in the process. They understand that role carries with it certain fiduciary obligations. They understand (and accept) that role also exposes them to liabilities. This article shows how prudent delegation can mitigate much of that fiduciary liability.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 6/7/19
SEC’s best interest, ERISA’s fiduciary, and through the floor on fees.