Nobody’s perfect. It’s unfair to expect recordkeepers to be. Everyone makes mistakes—even recordkeepers. The problem is what happens when a mistake occurs.
Tag "recordkeeper"
![Top Issues (And Their Solutions) 401k Plan Sponsors Have With Recordkeepers](https://fiduciarynews.com/wp-content/uploads/2022/09/mill-e-o-4-1483114-660x395-1-505x306_c.jpg)
![Top Issues (And Their Solutions) 401k Plan Sponsors Have With Payroll Processors](https://fiduciarynews.com/wp-content/uploads/2022/08/closeup-of-gears-and-cogs-clockwork-3099512-660x395-1-scaled-505x306_c.jpg)
How do you solve, for example, the problem of integration between the payroll software and the 401k recordkeeper’s website?
![Exclusive Interview: Peter Gulia Explains Difference Between “Settlor” (Plan Design) And “Fiduciary” (Plan Administration) Functions](https://fiduciarynews.com/wp-content/uploads/2021/12/Gulia-Peter-ASPPA-660x395-1-505x306_c.jpg)
How do we design and administer retirement plans?
![Exclusive Interview: Spencer Williams Says Post Separation Leakage “A Huge Problem”](https://fiduciarynews.com/wp-content/uploads/2021/11/Spencer_Williams_102021-660x395-1-505x306_c.jpg)
In theory, 401k plans were always intended to be highly portable, but that’s not what happened. “Portability” only evolved to the extent that the most-attractive balances were picked off and rolled over to IRAs, and everyone else was left holding the bag.
![Taking a Fiduciary Holistic Approach: How Can 401k Participant Data Be Used?](https://fiduciarynews.com/wp-content/uploads/2021/06/private-property-no-trespassing-1205389-660x395-1-505x306_c.jpg)
Despite this, 401k plan sponsors can better protect their employees, even when it comes to personal data, because that data is only acquired within the context of the service provider’s relationship to the plan.
![How Best to Prepare Yourself to Go from Zero to MEP/PEP in Four Months](https://fiduciarynews.com/wp-content/uploads/2020/07/railroad-tracks-1258203-660x395-1-505x306_c.jpg)
Nonetheless, there is a way to short-circuit this time-frame. You can do it, but you’ve got to really want to do it.
![Who Is Generally Responsible For Designing, Detailing, And Approving The 401k IPS?](https://fiduciarynews.com/wp-content/uploads/2020/01/notebook-1525807-660x395-1-505x306_c.jpg)
There are many different types of plans, particularly when plan sponsors pick a 3(21) or 3(38) adviser. Which service provider arrangement a plan sponsor chooses impacts how the IPS will be constructed – and how the relevant parties contribute to that draft.
![Top 5 Challenges Too Many 401k Plan Sponsors Aren’t Aware of](https://fiduciarynews.com/wp-content/uploads/2018/12/southbound-train-1440046-660x395-505x306_c.jpg)
It’s safer to assume you don’t know everything – and here’s a list that begins to define that everything.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 4/20/18
SEC punts fiduciary, fees aren’t everything, and old time investing.