News & Information

When Participants Retire, Should Their QDIA Retire as Well?

When Participants Retire, Should Their QDIA Retire as Well? by Marcie Carroll Many retirement plan sponsors are increasingly recognizing the benefits of allowing retired employees to leave assets in the defined contribution (DC) plan. This arrangement can be a win-win for both plan sponsors and participants. Fat retiree balances may improve plan economics, allowing plan sponsors to negotiate lower fees….read more →

Recruit, Retain, Retire – Reframing Financial Wellness

Recruit, Retain, Retire – Reframing Financial Wellness By Marcie Carroll So much of the financial wellness conversation to date has focused on the potential health care cost mitigation of adopting organizations. A more effective angle, however, may come in the form of the company’s increased ability to recruit, retain, and allow a happier workforce to retire on time. Wellness Programs…read more →

Should a Retirement Plan Implement a Fee Policy Statement?

Should a Retirement Plan Implement a Fee Policy Statement? By Marcie Carroll For the client who may be concerned about fiduciary compliance, a fee policy statement may give comfort. Like all other fiduciary actions, the value of this statement is a function of how well it is written (not too loose nor too tight) and how consistently a plan sponsor…read more →

May Any Employee Join the Retirement Committee?

May Any Employee Join the Retirement Committee? By Marcie Carroll Upon first blush, to the extent an employee from the general populace can and wishes to make a contribution as a committee member, there seems to be no reason why they shouldn’t participate on the committee. In practice, most committees consist of executives from finance (preferably the CFO), benefits and…read more →

Partial Plan Terminations

Partial Plan Terminations by Marcie Carroll A partial plan termination occurs when 20 percent or more of a company’s employees are laid off in one year. Routine turnover during the year is generally not considered a partial plan termination. To determine whether your turnover rate is routine, consider the following factors: • What was your turnover rate during other periods…read more →

Did Someone Order a Large?

Did Someone Order a Large? By Marcie Carroll   Any committee member sitting through their share of plan investment review meetings has heard the term “large cap” come up quite frequently. In our experience, large cap funds are top of list when the review turns to the stand-alone funds in the lineup. Given this place of prominence, it is critical…read more →

Are Your Written QDRO Procedures in Place?

Are Your Written QDRO Procedures in Place? By Marcie Carroll A QDRO, or a Qualified Domestic Relations Order, is a court mandate to divide the assets of a retirement account among divorcing spouses. While there are probably few QDROs that will need to be processed by your plan over its lifetime, it’s still important to confirm that you are in…read more →

IRS/DOL Plan Error Self-Correction Programs

IRS/DOL Plan Error Self-Correction Programs By Marcie Carroll In the event that a plan discovers a practice breach based on IRS or DOL regulations, they may be well advised to attempt to apply for one of the self-correction programs identified below. It is typically advantageous to self-correct prior to the error being discovered by the IRS or DOL, as penalties…read more →

No Beneficiary Designation. Who Gets The Money?

No Beneficiary Designation. Who Gets The Money? By Marcie Carroll According to a recent Wall Street Journal article, retirement plans and IRAs account for about 60 percent of the assets of U.S. households investing at least $100,000. Both state and federal laws govern the disposition of these assets, and the results can be complicated, especially when the owner of the…read more →

Improper Handling of Hardship Distributions May Result in Significant Problems

Improper Handling of Hardship Distributions May Result in Significant Problems by Marcie Carroll These days, many plans are experiencing an uptick in the number of participant requests for hardship distributions. Much of this increased activity may be attributed to our prolonged and tepid economic recovery. As these requests are considered, you want to be sure not to act to the…read more →