Plan Sponsor

CBC Fall 2020 Newsletter

COST OF LIVING ADJUSTMENTS FOR 2021 ON OCTOBER 26, 2020, THE IRS ANNOUNCED THE COST OF LIVING ADJUSTMENTS AFFECTING THE DOLLAR LIMITATIONS FOR RETIREMENT PLANS. Contribution and benefit increases are intended to allow participant contributions and benefits to keep up with the “cost of living” from year to year. Here are the highlights from the …

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CBC Summer 2020 Newsletter

ELECTRONIC DELIVERY COULD SAVE BILLIONS ON MAY 21, 2020, THE U.S. DEPARTMENT OF LABOR AND THE EMPLOYEE BENEFITS SECURITY ADMINISTRATION (EBSA) ANNOUNCED THE PUBLICATION OF A FINAL RULE THAT WILL ALLOW EMPLOYERS TO COMMUNICATE THE REQUIRED RETIREMENT PLAN DISCLOSURES AND OTHER PLAN INFORMATION ELECTRONICALLY. The rule finishes a 2018 DOL initiative aimed at reducing administrative …

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CBC Spring 2020 Newsletter

UNDERSTANDING THE CARES ACT   ON FRIDAY, MARCH 27, 2020, THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT), A MASSIVE RELIEF BILL FOR THOSE SUFFERING AS A RESULT OF THE CORONAVIRUS PANDEMIC, WAS SIGNED INTO LAW. Besides the generalized financial relief afforded to individuals, as well as loans and other concessions for businesses, …

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Mitigating your fiduciary liability: pilot or co-pilot?

When hiring your company’s 401(k) advisor, choosing a fiduciary mitigates your plan sponsor liability. But which type is best? Metaphorically, a 3(21) fiduciary acts as your co-pilot making plan asset recommendations, but the liability remains shared if the “plane crashes.” With a 3(38) fiduciary, you instead get out of the cockpit and become a first-class …

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No More Stars, Diamonds or Smiley Faces

When selecting mutual funds, whether for an individual or a company’s 401(k) plan, it’s best to strictly adhere to acomprehensive list of criteria.  While no one can (or should) guarantee performance, a diversified portfolio of “best in class” high quality funds that are regularly monitored for compliance to that criteria should serve all parties well. Here are …

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Well-hidden fees are costing 401(k) plan participants

Recently, one of our financial planning/wealth management clients asked us to coordinate his assets under our management with his 401(k) plan assets. Unfortunately, we found the task impossible because his investments — while they had familiar names like Janus, TRowe Price, Fidelity, etc. — bore no resemblance to the actual investments of the same names. …

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The Certified 401(k) Difference

Fewer than 1% of financial advisory firms have been awarded the coveted Center For Fiduciary Excellence (CEFEX) Certification in the United States. Although the term “fiduciary” has become more commonly used in our industry, the definition and expectation of fiduciary responsibility has unfortunately been muddied and it is hard to trust you are getting the …

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CBC Spring Newsletter 2018

WHO IS AN EMPLOYEE? MAINTAINING A RETIREMENT PLAN FOR YOUR EMPLOYEES IS NO EASY TASK. At various points during the year, employers and HR departments field participant questions, help with enrollments, deliver notices and statements, and participate in the distribution process. However, an additional responsibility, and one of the most important, is the collection of …

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COVID-19 UPDATE