Category Archives: 401k Management

How to Have a 401k Your Employees will Love and litigators will hate

         401k Savings or Retirement Income Security Act Plan? The purpose of a 401k or 403b established in the Employee Retirement Income Security Act is retirement income security. The median retirement account balance for all working-age households is just $3,000, … Continue reading

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How to manage your 401k plan risk while saving time too

     If you are like most 401k responsible parties, your baptism was by fire. You might have inherited someonelse’s work and assumed it to be “okay.” The Employee Retirement Income Security Act (ERISA) exposes you to some significant risks. Take … Continue reading

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7 ways to tell it’s time to cut ties with the status quo 401(k) advisor

Sticking with the status quo 401(k) advisor is easy. You may say it’s the devil I know. Unless you are 401(k) provider or ERISA attorney you may not be the best judge of 401(k) devils. You shouldn’t be. You should … Continue reading

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401k Fiduciary (ERISA Fiduciary)- Rational Robot or Human

                     As a 401(k) fiduciary (ERISA fiduciary) aka plan sponsor, your day job (CEO, CFO, HR) is increasing your firm’s bottom line. It is not learning the ins and outs of the laws … Continue reading

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401(k) fees and providers: Evidence-based provider monitoring

                    A federal judge ordered the president of Columbus-based Clark Graphics, Mary Clark, to restore $505,551.46 to the company’s two employee retirement plans. The order requires the restoration of all plan losses for which the defendants are liable plus … Continue reading

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401k review-Are you paying for an audit that you don’t need?

    Many employers and their designees take their cues on what they need to do from the providers that they select. While the law expects that you would go through a due diligence vendor selection process, many firms simply select … Continue reading

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Avoiding a 401k fiduciary breach- An independent fiduciary might save your assets

                                                                DOL investigator                                    Plan sponsor flanked by independent fiduciary Do you know the ERISA rules and 401k rules? “When a 401k plan gets in big trouble, the DOL removes the company’s fiduciaries and appoints a professional, independent fiduciary. An … Continue reading

Posted in 401k Management, 401k Monitoring, 401k rules, Department of Labor, ERISA plan, Fiduciary duties, Uncategorized | Leave a comment

401k reviews and fast food menus

When we go to McDonald’s, most of us don’t expect to get healthy food. McDonalds serves kids and adults. We go there because it is quick, convenient and offers a fun experience for those of us with kids. McDonald’s does … Continue reading

Posted in 401k Management, 401k Review, Fiduciary duties, Investment Monitoring, Investment selection, Provider monitoring, Provider selection, retirement plan education | Tagged | Leave a comment