Connections for Success

Employee Benefit Plans


Trivial Retirement Plan Changes from the Tax Cuts and Jobs Act, Right?
Larry A. Ruff

At first glance, the Tax Cut and Jobs Act (TCJA) did not change much regarding retirement plans. None of the rumored changes were included in the TCJA, such as the so-called “Rothification.”  Moreover, there were no changes to retirement plan limits or rules regarding contributions. Well admittedly, the TCJA did change a few things.


Target Date Funds – Confusion?
James Quaid

The proliferation of target date fund (TDF) varieties can confuse many plan sponsors. One survey found that while nearly two-thirds of plan sponsors consider investment performance the most important selection criterion when choosing a TDF for their participants, more than half are not confident that they have a solid basis for benchmarking the TDFs against […]


Consider Your Options With Nonvested Participant Forfeitures
Michael Kovacs

Employee benefit plans provide a combination of vested and nonvested assets. When employees leave a company before their matching 401(k) contributions have vested, they forfeit those amounts. This brief article reviews the options available to plan sponsors when dealing with these assets.


IRS Simplifies Process for Avoiding Rollover Penalties
Doug Karasek

In the past, retirement plan participants have found the process to rollover their retirement plan a tedious and sometimes costly process if proper procedures are not followed. However, recently the IRS has made it a lot easier for retirement plan participants and IRA owners to avoid penalties when they botch a rollover. This article discusses new IRS Revenue Procedure 2016-47, which allows participants to “self-certify” valid reasons to the receiving financial institution.


What Is Buried Inside Your 401(k) or 403(b) Plan Fees?
Larry A. Ruff

Do you know and understand what are your 401(k) or 403(b) plan’s fees, and especially, what are inside those buried fees? Broadly speaking, retirement plan fees consist of fees and expenses associated with plan administration services, such as record keeping fees, and plan investment activities, such as investment management fees. But what are the fees buried inside your plan’s investment funds?


Year-End Notices: Staying on Top of the Requirements
Stephanie M. Zaleski

As the calendar year comes to a close, plan sponsors should begin preparing annual notices. For plans using the calendar year, numerous notices are due to be given in the next few months. This article highlights some of the notices that must be sent to either participants, the IRS or the DOL in the next three months.


The Supreme Court Takes on 401(k) Fees
James Pellino

The Supreme Court may review your company’s 401(k) plan as it did in a recent case. This is what happened a few months ago when the Supreme Court ruled on the Tibble V. Edison case.


401(k) Plan Management vs. Fiduciary Duties
James Quaid

Fees charged by record keepers and asset managers for 401(k) plan services paid from plan assets have come under greater scrutiny in recent years. The Department of Labor (DOL) has released fee disclosure regulations, and courts have reviewed high-profile litigation over the issue. The topic is not likely to settle down anytime soon.


Planes, Trains, Automobiles and… Retirement Plans?
Larry A. Ruff

Perhaps you recall the 1987 comedy starring Steve Martin and John Candy that involved these modes mode of transportation. But if you add in retirement plans, what could all of these possibly have in common? All of these require ongoing and regular maintenance to keep them in proper condition and running smoothly.


Are Your 401(k) Plan Administrative Fees Allocated Equally?
Stephanie M. Zaleski

Most 401(k) plan participants should not bear a higher proportion of a qualified retirement plan’s administrative costs than others because of their investment choices. This blog notes that the numbers can be significant and discusses how to reasonably allocate fees.

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