Newsletters

Retirement Plan Sponsors: Are You Continuously Monitoring Your Investments?

By David Gensler, President, Madison Pension Services, Inc.

Imagine if the participants in your company’s 401(k) plan just discovered that the funds supporting their retirement plan haven’t been reviewed in years. Furthermore, what if they also learned that the exact same (but cheaper) fund choices were available but that no action had been taken to make those choices available to them? The resulting reduction in the value of their accounts, the very accounts intended to finance their golden years, would—understandably—be a tough pill for them to swallow.

Indeed, such was the situation that drove Edison International’s employees to take their concerns to court. They brought suit against their employer in 2007 for violating its fiduciary duties with respect to mutual funds added to their 401(k) Savings Plan in 1999 and 2002. The employees, in a lawsuit that ultimately ended up in the U.S. Supreme Court (Tibble vs. Edison), argued that Edison acted imprudently by offering higher-priced mutual funds when materially identical lower-priced mutual funds were available.

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The IRS Performs Audits On Retirement Plans & The DOL Conducts Investigations – What’s The Difference?

 

This Issue’s Contents:

  • What Is The IRS Responsible For?
  • The IRS’s Top Five
  • What Is The DOL Responsible For?
  • The DOL’s Top Five

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Important Plan Restatement Deadline as Per the Pension Protection Act

 

This Issue’s Contents:

  • Why Does This Need To Be Done?
  • What Happens If It Is Not Done On Time?
  • Won’t This Automatically Be Taken Care Of For My Client?
  • When Should My Client Start Working On This?

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Designing A Retirement Plan From The Ground Up

This Issue’s Contents:

  • The Law Firm And The Underperforming Associate Attorney
  • The Dilemma: How To Include All Current Employees Without Wasting Money On The Associate
  • Who Will Be Terminated?
  • The Solution

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Retirement Plan Guidance For Your Clients

This Issue’s Contents:

  • Supreme Court Rules Inherited IRAs Not Exempt From Bankruptcy
  • One-IRA-Rollover Per Year Is Going To Be The Rule
  • Why Do Rollovers At All?

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Using Retirement Accounts to Fund a Business Startup

This Issue’s Contents:

  • Can Your Clients Really Do This?
  • How it Works
  • What Does the IRS Have to Say?

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