With the New Year, the annual cycle of most retirement plans begins again. In general, 401(k) plans must be tested annually to demonstrate that they do not discriminate in favor of highly compensated employees, or provide benefits that exceed certain statutory or regulatory limits. If a plan “fails” any of the required tests, the plan sponsor must take corrective actions, and there are established deadlines for correcting certain failures. The following is a brief summary of these deadlines:READ MORE
Hiring the right advisor for your company's 401(k) retirement plan is one of the most critical decisions you will ever make as a Plan Sponsor.
Contrary to popular view, the main purpose for hiring a retirement Plan Advisor is not to pick stocks and funds or chase the highest rate of returns. It is the knowledge of process by which investments are selected and fiduciary standards are put into practice that makes good 401(k) advisors indispensable. You will be choosing your closest and most trusted ally to protect the best interests of your plan's participants, and therefore, to manage your monumental fiduciary liability as a Plan Sponsor.READ MORE