The DOLâs guidance on missing plan participants appears just as effective as its week 2012 Mutual Fund Fee Disclosure Rule. Yes, itâs there, but it has no viability. Still, that doesnât mean 401k plan sponsors can ignore the issue, even if they have not lost participants.
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This week weâll be focusing on those favorite features as judged by the retirement plan professionals we interviewed. Donât be surprised if over the next few weeks you discover that one providerâs treasure is another providerâs trash.
Hereâs the irony of the tax saving incentive. If itâs wildly successful and leads to very large retirement accounts, the required minimum distributions at retirement may place the now retired employee in a higher tax bracket than the one experienced while working.
Itâs critical that plan sponsors consult with compliance professionals before adding the Deemed IRA feature.
There is an out, of course, but that might eliminate the so-called âinstitutional pricingâ advantage former employees have for staying in the plan in the first place.
Before you get all excited and look to replace your home equity loan with a 401k loan, you should consider these things.
If youâre a fiduciary of the acquiring plan, you want to make sure youâre not burdened with any unknown liabilities. If youâre a fiduciary of the acquired plan, you want to make sure the merger process doesnât introduce new liabilities.
Here’s something you don’t always see, but maybe you should.
It appears all but certain the floodgates will soon open wide, unleashing a torrent of trade association sponsored 401k MEPs. If youâre looking for the trigger that will open those floodgates, here’s what you should be paying attention to.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 5/24/19
SECURE Act recap, BI coming, and ESG sizzling.