The central role of the recordkeeper can create reverberations with other providers should the plan sponsor attempt to change recordkeepers. Any hiccup in the employees’ ability to manage their retirement assets can cause problems for plan sponsors.
Posts From Christopher Carosa, CTFA
Viewing this content requires a Basic (Free) Membership or better. You are not currently logged in. If you have an account, you may login below, or use the “Log In”
Any focus on younger employees in terms of saving for retirement may all be for naught. For these often lower-paid workers, the higher contribution caps for 401k plans may not any practical benefit.
Viewing this content requires a Basic (Free) Membership or better. You are not currently logged in. If you have an
The relative quickness of this one-two shot from the District Courts suggests an obvious flaw in the new Rule.
It’s clear that certain areas of government oversight are more vulnerable now that Chevron no longer rules the land. The prospect of this may excite opponents of excessive regulation.
Among the consequences that can follow from the Supreme Court’s overruling Chevron is yet more situations for which an answer to a question of law won’t be one bright-line rule made by a government agency.
It’s too easy for plan sponsors to get lost in the weeds when dealing with plan minutia. Yes, “the buck stops here” reality can overwhelm many. Delegation is the key. It’s also the Achilles Heel. This is where the magic word emerges.
Once the communications link is broken, it’s fair to say the participant is lost or missing. Plan sponsors need a second set of procedures in this case.
Big Day Coming: New Book Coming Out On August 15, 2024!
Viewing this content requires a Basic (Free) Membership or better. You are not currently logged in. If you have an account, you may login below, or use the “Log In”