Hard and Soft Dollar Expenses

What are hard-dollar and soft-dollar expenses, and how do they impact your retirement plan? Allow us to explain. Hard-dollar expenses typically include the expense of services such as plan design, plan design administration, and compliance. These hard-dollar fees are usually paid to a third-party administrator (TPA) or a bundle provider, who performs both the record-keeping Read More…

Avoiding 401(k) Litigation and Penalties for ERISA Violations

  Failing to manage your company’s 401k plans in an effective and forward-thinking way could potentially result in 401k litigation that could cost you time and money. Your business has a fiduciary duty to your employees to manage their funds in a proactive and practical manner. Here are some points to keep in mind when Read More…

Know How Your 401k Providers Get Paid

  In the last few weeks, we’ve brought on multiple new clients with existing 401(k)s. The main reason the committees told us that clients were moving to us was that we were able to educate them on how their employees were paying fees. On page 67 of our book, you can see a picture of Read More…

Your Role as a Fiduciary and Your Responsibility as an Employer

If you’re sponsoring a 401(k) plan, you have a duty of loyalty and a duty of prudence to your participants and their beneficiaries. What does that mean? You must have a repeatable process and the selection and monitoring of your plan’s investment options. This means you need to hire and fire investment managers if they’re Read More…

What Is a Cash Balance Plan?

Today we’re excited to share one of our favorite retirement plan solutions: a cash balance plan. A cash balance plan is a different type of retirement plan, and it may be an option for you to add onto your existing 401(k). Many of our clients have recently been bringing up the changes to our nation’s Read More…

Welcome to My Brand-New YouTube Channel

Welcome to my video blog! If you currently sponsor a 401(k) plan and want to evaluate that plan, we can be of service. We’ll help design a plan to help you create secure retirement outcomes for your employees and help you understand your role as a fiduciary. I just want you to know we’re here Read More…

Retirement Plan Administration: What You Need to Know

When I meet with prospective clients, they typically view the administrative duties performed by a potential provider as a commodity, i.e. all providers are the same, when in reality this couldn’t be further from the truth.  The most significant liability faced by an employer who sponsors a retirement plan is related to the administrative duties Read More…