Opportunities, Challenges Facing 401(k) Plan Sponsors & Fiduciaries

Scott Price, CPA

Fiduciary News recently posted two articles – one with a number of insightful strategies from 401(k) experts from across the country addressing what they see as the biggest issues and another expounding on the opportunities in the industry. At a time when Baby Boomers are retiring in large numbers and the statistics show just how unprepared the majority of Americans are for retirement, a healthy discourse on the state of the 401(k) system is incredibly important.
401(k) Challenge […]

5 Reasons Your Employee Benefit Plan Needs Written Plan Policies

Larry Beebe, CPA

Written policies are an essential component of any successful entity, including employee benefit plans. While they may seem complicated and onerous, clear policies are important both for compliance and operational efficiency.

You may have operated for years without a single policy, or perhaps you feel as though your plan is not large enough to warrant such structure. Regardless of your plan’s size or scope, here are five reasons to implement written plan policies:

Compliance. Written policies show government regulatory […]

Benefit Plan Policies: Conflict of Interest

Larry Beebe, CPA

In this series, we are reviewing the written plan policies needed to help your benefit plan stay compliant and operate most effectively. For a full list of the necessary policies and why your plan should implement them, click here.

As a fiduciary of an employee benefit plan, you have an obligation to operate your plan in the best interests of plan participants and their beneficiaries. In order to fulfill this obligation, trustees and other plan fiduciaries must adopt […]

408(b)(2) Fee Disclosure Regulation Update: A Road Map for Plan Sponsors

Caroline Kettering, CPA

As a plan sponsor, you probably dread sifting through mountains of papers in order to find and understand your plan providers’ fees. The Department of Labor isn’t too thrilled about it, either. Two years after the original 408(b)(2) fee disclosure regulations were finalized, the Department of Labor has issued a long-anticipated proposed amendment concerning the format of these disclosures. The proposed amendment aims to provide a “road map” for plan sponsors to help you more easily identify […]

Recent Supreme Court Cases Affecting Employee Benefit Plans

Sue Weaver

On our Payroll Auditing blog, Andrew Staab of Felhaber Larson Fenlon & Vogt recently provided a helpful overview of two Supreme Court decisions that affect employee benefit plans. These particular cases address when you need to act in order to preserve your rights. Here is a snapshot of the issues at hand:
Filing an Appeal
Ray Haluch Gravel Co. v. Central Pension Fund of International Union of Operating Engineers and Participating Employees, 134 U.S. 773 (2014) addresses the issue of […]