Coming your way: some of the most significant changes in 30 years. The Department of Labor has promised to update the retirement plan landscape. Three major rule changes are scheduled for the near future. All retirement plan fiduciaries and administrators should be aware of them. #1: “Covered service providers” must fully describe their services & [...]

More companies are offering them. Will an automatic enrollment 401k fix our retirement savings blues? The trend could become the norm. Human resources firm Aon Hewitt surveyed 120 large U.S. companies in 2010 and found that 60% of them automatically enrolled workers in defined contribution retirement plans such as a 401k. In Aon Hewitt’s 2006 [...]

The Need to Attract and Retain Employees Employers have increasing been the providers of retirement plans for employees and this has created a dilemma for many small businesses1. When competing for talent with larger rivals, not having a plan might make it difficult to attract or retain quality employees. However, the fixed costs of administrating [...]

It can reveal hidden flaws and help you improve the plan. Why do companies request specialized audits of their 401(k)s? After all, the standard annual audit that large companies routinely attach to Form 5500s may seem adequate. Yet a specialized audit may reveal things that have gone unnoticed for years, or conditions that should be [...]

Are you taking full advantage of your company’s 401(k)? The 401(k) plan is one of the most widely-utilized wealth creation tools offered Americans. These retirement savings plans have several advantages, including dollar cost averaging, tax savings and tax deferral.  However, one of the most powerful advantages is the company match. If your company offers a [...]