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You’ve Received Fee Disclosures, Now What?

It’s Your Turn to Disclose Fees to Participants Did you suffer from sticker shock when you received the recent fee disclosures from your service providers? If so, you weren’t the only plan fiduciary to...

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Will You Be Ready for Retirement?

You may have heard the retirement terminology “three-legged stool” used to describe the three most common sources of retirement income: Social Security, employer sponsored retirement plan and personal...

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Who is Responsible for Fidelity Bonding?

When it comes to following the ERISA requirement of fidelity bonding, the devil, as they say is in the details. The Employee Retirement Income Security Act of 1974 (ERISA) requires that fidelity...

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Do You Need to Send an Annual Notice to Your 401k Participants?

Does your 401k plan have a calendar year end? If so you have until December 1, 2012, to send notice requirements to plan participants or the operation or qualification of your plan could be impacted....

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What Changes Do Pension Plans Need by Year-end?

In the midst of the publicity surrounding the new ERISA fee disclosures requirements, it is important not to lose sight of the fact that other recently enacted legislation may impact your retirement...

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Are You Ready For FASB 715-80 Disclosures?

From ERISA fee disclosures to benefit limitation regulations, 2012 has been a year of regulations for retirement plans.  If your company offers a retirement plan, you may feel like you’ve spent the...

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Employee Welfare Benefit Plans Making Your Head Spin?

Every year, we receive questions regarding whether a filing requirement exists for a client’s welfare benefit plan. Clients want to ensure that their plans remain ERISA compliant without taking on the...

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What Does ASU 2011-04 Mean For Your Pension Audit?

How to Prepare For Changes to Your Retirement Plan While the basics of double entry accounting haven’t changed in hundreds of years, the devil, as they say, is in the details. And, when it comes to...

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Why is the Timeliness of Employee Contributions Under Scrutiny?

The Department of Labor (DOL) has focused on the timely remittance of employee contributions to retirement plans for a few years. And recently, they stepped up efforts during agency-conducted audits,...

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What Are Some Changes Plan Sponsors Can Expect To See In 2014?

Every fall, just as we can expect the leaves to change colors and the weather to turn colder and a little dreary, we can also anticipate changes we will see coming in the following year with respect to...

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Is your 401K Okay? Tips for managing your company retirement plan

The past several months have certainly been rocky for 401k investors. And while the rollercoaster ride may not be over, the stock market appears to be showing signs of improvement. So what can your...

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Do You Auto-Enroll Employees in Your 401k?

Large employers are hesitant to institute automatic enrollment for their retirement savings plans, according to a recent survey conducted by AARP. Nearly 60 percent of the employers surveyed noted that...

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Is October 1 the Deadline for Establishing Simple IRA?

Small businesses have until October 1 to set up a Simple IRA for 2010. Failure to set up the plan by this date will mean that contributions cannot be made for 2010.   Simple IRAs are for small...

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Are you ready for National Save for Retirement Week?

Urgent Message from Your Future: Save Today for Tomorrow When it comes to saving for retirement, there is never a better time than today to assess your prospects toward meeting your goals. And with our...

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How does the Small Business Jobs Bill Impact 401(k) Plans?

The Small Business Jobs Bill, which was recently signed into law by President Obama, includes a provision that will add some additional planning opportunities for participants of 401(k) plans with Roth...

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What are the 2011 Pension Plan Contribution Limits?

The IRS recently announced cost of living adjustments affecting dollar limits for pension plans and other retirement-related items for 2011. The limits generally remain unchanged or reflect small...

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Should I respond to that DOL Employee Benefit Notice?

If your company is required to file the employee benefit plan form 5500 or 5500-EZ, and receives a notice of a proposed penalty, be sure to respond to the notice within 30 days. When a Form 5500 or...

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Employees on the Fence? Ten Reasons to Join Your Ohio 401(k)

In spite of recent history in the stock market, when you compare 401(k) plans to other savings plans available to employees, the 401(k) plan has many positive points. Here are ten reasons your...

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Want to Lessen Chances of a DOL Inquiry? Ten Tips

The Department of Labor (DOL) enforces fiduciary, reporting and disclosure requirements for employee benefit plans. The agency is recruiting more investigators, so DOL investigations will be on the...

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Will I Be Penalized for a Hardship 401K Withdrawal?

A reader asked: I wanted to do a hardship with my 401k and was wondering if would be penalized 10 percent of the balance? I borrowed from my 401k and haven’t paid all of it back yet. Will I be able to...

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What does the new ERISA regulation mean for plan sponsors?

If your company sponsors a 401k plan, a new ERISA regulation could mean extra paperwork… and potentially extra liability. The new regulation related to ERISA 408(b)(2), goes into effect July 1, 2012....

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Can Benchmarking Uncover Money Hiding in Your Retirement Plan?

Benchmarking may result in potential savings Could you use an extra $26,000 a year? A plumbing company realized that savings after discovering it was overpaying recordkeeping and investment fees in its...

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Do You Understand the New ERISA Fee Disclosures?

408(b)(2) Regulations Help Meet Fiduciary Responsibilities Are you wondering why there is so much buzz these days about ERISA Section 408(b)(2) fee disclosures? After all, your service provider tells...

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What is a Roth 401(k)?

Understanding Employee Benefit Plan Types In 2001, a new retirement plan option was created.  Although this option, known as a Roth 401(k), has been around for a few years now, there’s still some...

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Don’t Let These Common Retirement Plan Mistakes Hurt Your Business

Even data entry gurus aren’t immune to making mistakes and, as many of us are already aware, it only takes a minor slip up to cause major havoc – especially where your plan contribution records are...

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