Posts Tagged ‘Retirement Plans’

February Plan Sponsor Checklist:

Thursday, January 31st, 2019


• Update the plan’s ERISA fidelity bond coverage to reflect the plan’s assets as of December 31 (calendar-year plans). Remember that if the plan holds employer stock, bond coverage is higher than for non-stock plans.

• Issue a reminder memo or email to all employees to encourage them to review and update, if necessary, their beneficiary designations for all benefit plans by which they are covered.

• Review and revise the roster of all plan fiduciaries and confirm each individual’s responsibilities and duties to the plan in writing. Ensure than each fiduciary understands his or her obligations to the plan.

January Plan Sponsor Checklist

Tuesday, December 18th, 2018

January Plan Sponsor Checklist


• Send payroll and employee census data to the plan’s recordkeeper for plan-year-end compliance testing (calendar-year plans).

• Audit fourth quarter payroll and plan deposit dates to ensure compliance with the Department of Labor’s rules regarding timely deposit of participant contributions and loan repayments.

• Verify that employees who became eligible for the plan between October 1 and December 31 received and returned an enrollment form. Follow up for forms that were not returned.

When Plan Participants Leave Your Company

Tuesday, December 11th, 2018

FMI: When Plan Participants Leave Your Company

What happens when plan participants leave your company?

There is a provision in the Tax Cuts and Jobs Act passed December 22, 2017, that affects plan participants who terminate employment with an outstanding loan. Before passage of the law, the loan would have been due immediately.


Considering a Target-Date Fund for Your Retirement Plan?

Thursday, April 26th, 2018

Here’s what you need to know about this popular investment option

If you are like many investors, researching, selecting, monitoring, and adjusting your investments and asset allocation within your retirement plan can be a time-consuming burden. One possible strategy to consider may be a target-date fund.2 A target-date fund takes much of the decision making out of which asset classes to own, at which percentage weights, given your estimated retirement date. As that “target” date approaches, the manager of a target-date fund automatically adjusts your allocations to reduce your market risk. Here are some basic facts about target date funds that you should know before you buy:

It is a popular option for retirement plans. Target-date funds are growing in popularity as investment options in qualified plans. In fact, as of December 31, 2016, 88% of target-date mutual fund assets were held through defined contribution plans and IRAs, according to the data from the Investment Company Institute.3 (more…)


Wednesday, September 7th, 2011

Remember the old TV commercial that stated ‘no two aspirins are alike’. While for some that’s still a debatable issue, there is no debate when it comes to corporate retirement plans. They’re simply not all the same. So before any plan is decided upon, it’s essential to ascertain a few facts about the potential provider.

The first thing you need to find out is whether a plan provider offers open architecture. In other words, the provider you choose should place no requirements on funds. The least desirable plans will force you to use their own funds. More often, you’ll have to employ funds that provide a certain amount of revenue sharing. This isn’t necessarily a negative; some of the best funds will involve revenue sharing as a means to defray costs. Many of these will even reimburse it. “The best retirement plan providers will go one step further,” states Peter Macaluso, Vice President of FM International Services (NY), Ltd., one of America’s most respected retirement plan providers. “These firms will also show you the precise amount of the revenue sharing, and allow fiduciaries to choose the most appropriate funds for a particular client.” (more…)