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Fiduciary Informant | December 2017

Fiduciary Informant | December 2017

Many plan sponsors wrestle with the question of who is considered a fiduciary within their 401k plan. Under Section 402 of ERISA every plan must have a Named Fiduciary. This newsletter is dedicated to effectively inform our clients of current trends within the 401k marketplace.

An Introduction to Financial Wellness

An Introduction to Financial Wellness

Financial Wellness is a newer employee benefit. In fact, it’s one of the fastest growing employee benefit as of 2016. But what’s all the interest in this program? Over 80% of companies have already employed a wellness program of sorts. We have seen the dramatic affects it has on employee productivity and retention.

Your Fiduciary Duty – And What To Do About It

Your Fiduciary Duty – And What To Do About It

This article was a bulletin written by Andy Williams of the Golan & Christie law firm. In the article he expresses the fiduciary duty of the employer, and the steps plan sponsors should take to help their plan fiduciaries.

Financial Advisors Face Higher Bar

Financial Advisors Face Higher Bar

On April 1, 2017, a fiduciary responsibility will be applied to financial advisers of 401(k)s and IRAs with the Department of Labor’s new fiduciary rule.

Being Prepared for a DOL Audit

Being Prepared for a DOL Audit

The Department of Labor (DOL), and their enforcement arm Employee Benefits Security Administration (EBSA), are responsible for the investigations and audits of any size 401k Plans. Even if you’re a small company, with just a handful of employees, your Plan could be investigated or audited.

Improving Retirement Outcomes

Improving Retirement Outcomes

Most of the recommendations for improving outcomes revolve around Auto Enroll, Auto Increases, and offering more employer contributions. Here at 401kActiveWatch, although we feel the aforementioned are viable recommendations; they really do not address the root cause of…

Mitigating Fiduciary Exposure

Mitigating Fiduciary Exposure

Anyone having discretionary authority with respect to your 401k Plan is considered a Fiduciary under ERISA; including members of an investment committee. As a Fiduciary you must act as a prudent expert solely in the best interests of Plan Participants.

Verifying Plan Expenses Are Reasonable

Verifying Plan Expenses Are Reasonable

During the past 3 years, 401k Plans have become more fee transparent. 401k Service Providers and Advisors are now benchmarking their fees to prove that their fees are reasonable for the services rendered. The issue of 401k fees being fair and reasonable is resolved now …. or is it?

Improving Retirement Readiness

Improving Retirement Readiness

Today, more than ever, Employers are faced with the costs of employees postponing retirement. Some employees have valid reasons for delaying retirement; however, there are a number of employees who do so simply because…