Category Archives: Uncategorized

How to Spot a Fake 401k Fiduciary Advisor or Provider

         If you are like most executives that oversee their company 401(k), you have never received formal education on the responsibilities and personal liabilities. When the Department of Labor (DOL) wins a lawsuit for breaching a responsibility, they remove the … Continue reading

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Is there a devil in your 401k investment menu?

Could your 401k QDIA actually be a liability? If an investment advisor or broker recommended an investment with a 3 month track record for your employees would you take it? That is what many sponsors did when Qualified Default Investment … Continue reading

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Would you rather have a 401(k) $100,000 balance or a $198,000?

Assuming that this is not a trick question, hopefully you answered the latter. Recently, I did an analysis of a Chicago law firm with about a $50 million total balance. Had they been in a portfolio based on principles of … 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

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Are You A Business Owner And Need To Catch-Up On Your Retirement Savings? Here’s A Way

One of the benefits of being the business owner is that you get to decide what kind of retirement plan to offer. If you’re like most business owners in the early years you are doing all that you can to … Continue reading

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Does my 401(k) warranty cover me like my new car warranty does?

     Many plan sponsors assume that well known brand financial companies must stand behind their plan. For extra comfort, they pick the biggest and most well-know companies. Remember the phrase “nobody got fired for hiring IBM?” Some big name companies … Continue reading

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Decreasing the risk of 401(k) plan lawsuits and cutting your time too

Lawsuits against 401(k) plan fiduciaries are on the rise. The bigger settlements came from class action lawsuits. Attorneys asserted employee’s retirement lifestyle was harmed by paying high fees, and it was the employer’s fault. ABB Mismanagement Cost      401(k) Plan … Continue reading

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