Newsletters

Participant Memo: Retirement Plan Facts

This month’s employee memo encourages employees to learn about their retirement plan to determine whether any changes need to be made. Your employer provides you with a retirement plan for you to save money in, tax-deferred, for the day you bid your career farewell...

Should You Adopt a Plan Committee Charter?

Yes! The primary purpose of a committee charter is to document overall plan governance. It is not dissimilar to how your Investment Policy Statement (IPS) acts as a “roadmap” for managing your plan investments. The charter also documents delegation of fiduciary...

Former Employees with Plan Assets are Still Plan Participants   

Plan Sponsors should understand that terminated employees who left their account balance in your plan, are still considered participants under ERISA. As such, they have the same rights as current employees. They cannot contribute to their account under the plan but...

Participant Memo: The 10% Savings Goal

This month’s employee memo encourages employees to conduct a regular examination of their retirement plan to determine whether any changes need to be made. Please see an excerpt below. Most people need to save more — often a lot more — to build a nest egg that can...

Annual Retirement Plan Notices

It is that time when plan sponsors need to send annual notices to participants. The 401(k) safe harbor, qualified default investment alternative (“QDIA”), and automatic enrollment notices must all be sent to plan participants between 30-90 days before the beginning of...

Cyber Security Issues for Plan Sponsors

The Department of Labor is working on a guidance package addressing cybersecurity issues as they relate to plan sponsors and third-party providers. Tim Hauser, Deputy Assistant Secretary for DOL's Employee Benefit Security Administration (EBSA) has indicated that we...

Post-Election Investment Commentary

Stock markets abhor uncertainty. Currently, investment prognosticators are interpreting the election results to create a relatively “stagnant” legislative environment. This opinion is based primarily on the Senate remaining in Republican control with the presidency...

Participant Memo: Retirement Plan Basics

This month’s employee memo encourages employees to conduct a regular examination of their retirement plan to determine whether any changes need to be made. Please see an excerpt below. Ten Things to Know about Your Employer’s Retirement Plan 1. What it is? Your...

Annual Plan Audit: An Auditor’s Perspective

Does your plan require an annual audit? If your eligible participant count (including terminated employees who maintain an account balance) exceeds 100 at the beginning of your plan will you be required to conduct a benefit plan audit including financial statements...