DOL Cybersecurity Tips

In this age of relying heavily on technology, it is vital to take the necessary cyber security precautions. You want to make sure that all sensitive information is highly protected. Per the DOL, plan sponsors should ask their service provider about the following: Security Standards Security Practices Security Policies Audit Results Security Validation Process Security Read More…

Three Ways to Strengthen Your Retirement Plan Committee

Retirement plan committees aren’t required by ERISA, but they can be extremely beneficial nonetheless — especially for larger plans. And if they’re constructed and operated appropriately, they can even help in the event a sponsor is sued. Depending on the size of the plan, some organizations split up committee responsibilities into investment oversight, administration, and Read More…

Keeping in Compliance: IRS Tips for Plan Sponsors

As an employer, you’re responsible for keeping your company’s retirement plan in compliance at all times. Additionally, your plan document should be reviewed on an annual basis and administered accordingly. The IRS offers useful tips for plan sponsors, helping you to stay compliant, informed and prepared to provide the best possible retirement plan for your Read More…

3(38) or 3(21): Which Fiduciary Service is Right for You?

Looking to reduce your fiduciary risk as a plan sponsor? A little outside help can yield big reductions in risk, provide the best for the people on your company’s payroll, and help you feel good about your qualified retirement plan. Remember though, what’s good for the plan participants isn’t always best for the company – Read More…

Summer Homework for Fiduciaries

As you bask in the glory of summer over the next couple of months, don’t forget the three Fs that define this cherished season — fun, Fourth of July, and fiduciary! While you’re enjoying the fruits of summer, don’t forget your fiduciary responsibilities! Ask yourself the following questions to make sure you are on top Read More…

Why You Should be Vigilant About Your 401(k) Fiduciary Duty

Companies that offer a 401k plan under the provisions of the Employment Retirement Income Security Act of 1974 (ERISA) have a fiduciary duty to their employees. Living up to these fiduciary responsibilities is essential to prevent legal actions against the company and to protect its reputation among potential employees in the labor pool. Working with Read More…