What to Look for in a Rollover ProviderOngoing fiduciary
responsibility and spending money on former employees are two reasons to
consider amending a plan to include automated rollovers, Millennium Trust says.Read more > |
IRS Provides More Clarity on New Rollover RuleThe IRS has provided answers to questions
received about the new single-distribution rule for rollovers from retirement
plans.Read more > |
Bill Aims to Encourage Retirement Plan OfferingsA U.S. Congressman has introduced a bill to
encourage small businesses to offer retirement plans for employees.Read more > |
USRP Acquires Pennsylvania 403(b) ProviderU.S. Retirement Partners (USRP) reported that it
has acquired Kades-Margolis Corporation (KMC), a provider of 403(b) planning
services to school district employees in Pennsylvania.Read more > |
Prudently Monitoring Legacy Vendor Contracts“When
I took over the benefits function at our company a year ago, I found a 403(b)
provider arrangement that we had outgrown as an organization. The size of our
ERISA 403(b) plan had grown dramatically in recent years as our organization
had grown, but we still had investments and servicing more befitting a smaller
plan. The plan committee decided to conduct an RFP, and we have a brand new
vendor relationship with which we could not be happier. However, the old
investments are in individual contracts that can only be moved at the
individual direction of each participant. We monitor both the old and new
investment as part of our due diligence, but the monitoring of the old funds
seems pointless as we cannot move funds out of any investment in the old
contract as a plan sponsor, no matter whether the investment violates our
Investment Policy Statement or not, and no matter how poorly the investment
performs. Is there any additional action that we should be taking as
fiduciaries with respect to these investments with the prior provider?”Read more > |
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ASK THE EXPERTS
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Groom Law Group and Cammack
Retirement Group will field your
questions concerning 403(b) plans
and regulations. Email rebecca.moore@strategic-i.com with Subject
Ask the Experts
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