INDUSTRY RESOURCES

8August

Churn ‘N’ Burn

August 8th, 2014|

I have been a big fan of Dilbert comic strips since my youth.  There is something amusing about a micromanaged, white collar worker with a big head and his little pet dog who seems to know it all.  Most everyone will agree that creator Scott Adams writes some pretty funny stuff. Over the years, Scott’s comic strips have poked fun at financial advisors, mutual funds and the financial services industry [...]

30April

Don’t Celebrate Too Quickly

April 30th, 2014|

401(k) participants continue to demonstrate their inability to make wise investment decisions.  I randomly sampled several 401(k) plans and found that average participant rate of return was 7% to 10% below the S&P 500’s 30% rate of return for 2013.  Some of the individual investments in the plans sampled had 40% or greater returns for the year, yet participants still failed miserably. The fact of the matter is - participants [...]

10December

Same-Sex Marriage and Qualified Retirement Plans

December 10th, 2013|

Recent changes have been made to the Defense of Marriage Act (DOMA) due to the United States V. Windsor Supreme Court decision in June, 2013, affecting the administration of qualified retirement plans. As of September 16, 2013, with guidance issued by the IRS and Department of Labor, plans must be administered such that same-sex couples are treated equally with opposite gender couples if a couple was married in a state [...]

19September

Those Pesky Missing Participants

September 19th, 2013|

"Now you see it, now you don’t" may be fine for a magic show but not when it comes to missing participants in your Retirement Plan. As Fiduciaries, Plan Sponsors have the responsibility to maintain accurate records and open lines of communication with all participants. If you have lost touch with former employees not only will you not be able to carry out your Fiduciary responsibilities, you will bear the [...]

29April

Lessons Learned from March 15th

April 29th, 2013|

Due to the nondiscrimination regulations for tax qualified plans, the IRS places a limit on the amount that a Highly Compensated Employee (HCE) may save in a 401(k) plan. This limit is based on the average rate of savings for employees who are not HCEs. The IRS defines an HCE as an employee who is a 5% owner in the current or previous plan year, or an employee who earned [...]

21March

Who, What and How Much are we paying?

March 21st, 2013|

The 2012 calendar year brought sweeping changes to the retirement plan industry. 401(k) practitioners and recordkeepers devoted most of the year to developing, implementing and distributing fee disclosures pursuant to Department of Labor Regulations 408(b)(2) and 404(a)(5). Lots of paper was generated, but just how effective were these new disclosures at familiarizing plan participants with who, what and how much they are paying to maintain their retirement accounts? Burke Group’s [...]

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