CCL News

Allowable Plan Expenses: Can the Plan Pay?

Allowable Plan Expenses: Can the Plan Pay? By Marcie Carroll The payment of expenses by an ERISA plan (403(b), 401(k), defined benefit plan, money purchase plan, etc.) out of plan assets is subject to ERISA’s fiduciary rules. The “exclusive benefit rule” requires a plan’s assets be used exclusively for providing benefits. ERISA also imposes upon fiduciaries the duty to defray…read more →

Index Funds – Passive or Passive Aggressive?

Index Funds – Passive or Passive Aggressive? By Marcie Carroll One of the largest misconception about index funds is that their only distinguishing feature is their fees. It’s not uncommon to hear, “index funds are just holding the stocks or bonds in the index, so we don’t need to pay attention to them.” This assumption, however, is an oversimplification. Many…read more →

IRS Announces 2017 Plan Limitations

Click here for printable chart IRS Announces 2017 Pension Plan Limitations; 401(k) Contribution Limit Remains Unchanged at $18,000 for 2017 The Internal Revenue Service today announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017. The IRS today issued technical guidance detailing these items in Notice 2016-62. Highlights of changes for 2017 The…read more →

What to Expect When Transitioning Providers

What to Expect When Transitioning Providers By Marcie Carroll The thought of moving from one service provider to another may be intimidating and overwhelming. It doesn’t have to be. If you work with an experienced conversion team, the process should be seamless. If a plan sponsor is unhappy with its current provider’s services and technology, it may very likely want…read more →

ERISA Update

ERISA Update By Marcie Carroll – At a recent Western Pension Benefit Council/ASPPA Conference the new Fiduciary Rule was reviewed. The new Fiduciary Rule (definition) has come under significant criticism by many industry groups and Congress, some of whom brought litigation to redefine and suspend the effect of this regulation. To date, the DOL shows no intent to revise their…read more →

“Conflict of Interest” or “Fiduciary” Rule: A Plan Sponsor’s Q&A – Part II

“Conflict of Interest” or “Fiduciary” Rule: A Plan Sponsor’s Q&A – Part II By Marcie Carroll Last month we featured the first part of our Fiduciary Rule Q&A series. Now enjoy the final five questions and wrap-up. After years of proposed regulation issuance, comment periods, drafting and anticipation, the Department of Labor (DOL) finally published final guidance regarding the definition…read more →

“Conflict of Interest” or “Fiduciary” Rule: A Plan Sponsor’s Q&A – Part I

“Conflict of Interest” or “Fiduciary” Rule: A Plan Sponsor’s Q&A – Part I By Marcie Carroll After years of proposed regulation issuance, comment periods, drafting and anticipation, the Department of Labor (DOL) finally published final guidance regarding the definition of “fiduciary” on April 8, 2016. It is important for plan sponsors to understand the reasoning behind, and the scope, of…read more →

What Constitutes Proper Documentation of Retirement Plan Committee Meetings?

With most retirement plans the fiduciary responsibility of selecting and monitoring the plan’s menu of investments is designated to a retirement plan investment committee. This committee usually includes financial officers and human resources officers of the employer. The committee meets periodically (anywhere from annually to quarterly) to consider agenda items including investment due diligence, fees and services of plan providers,…read more →

I’m Too Young to Save for Retirement!

Too often, we hear the younger generation of workers tell us saving for retirement is not high on their priority list. It’s easy to understand why retirement may not be a main priority. Instead of thinking about the long-term financial impact of ending their careers, most young workers today are focused on launching their careers. However, what the younger generation…read more →