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Which model is a better fit for you? Employers may choose to “bundle” multiple services for their retirement plans with one provider, or select two or more specialist service providers in an “unbundled” arrangement. In a bundled approach, the recordkeeper performs tasks typically reserved for the third-party administrator (TPA). Alternatively, an unbundled retirement plan combines...Read More

3(16) fiduciary services are rapidly gaining popularity in the retirement industry. But why? What do these services entail? Are they worth the investment for plan sponsors? We’ll cover these topics in the following post. What are 3(16) fiduciary services? When a business owner sets up a retirement plan, they are held legally responsible for the...Read More

We work with payroll companies, both large and small, throughout the country. These companies help employers manage their payroll with great tools and resources. However, they are not retirement plan experts. So, before employers jump in with a payroll provider for retirement plan administration, it’s important to consider all the facts.  In this post, we’ll...Read More

If you live in California or Illinois, you might be very familiar with state-sponsored retirement plans. In fact, many other states have also implemented these programs and several others are contemplating jumping on the bandwagon.  Why do these programs exist? Why are they growing in popularity? What other options do employers have for retirement plans?...Read More

The SECURE Act was signed into law at the end of 2019. Among its many provisions was the ability to adopt a new profit sharing or defined benefit plan (including a cash balance plan) after the end of the plan year. The deadline to adopt a 401(k) feature did not change.Before 2020, an employer had...Read More

The SECURE Act includes a new rule that will dramatically affect eligibility for 401(k) plans. Under this new rule, beginning in 2024, any eligible employee who works at least 500 hours in three consecutive years must be permitted to make 401(k) salary deferral contributions into the plan.   Currently, a 401(k) plan can restrict eligibility to...Read More