Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney.

Hey Joel,

When does the five-year clock start for Roth withdrawals? - Tick Tock in Tennessee

On Friday, August 31, President Trump signed an Executive Order directing the Department of Labor (DOL) and the Treasury to review and consider issuing regulations regarding increasing access to workplace retirement savings arrangements.

Managing uncashed retirement checks may be considered a nuisance by plan administrators. Nevertheless, the employer still has fiduciary responsibility when a former employee fails to cash their distribution.

An exchange is a turnkey solution for businesses that allows you to provide the benefit of a retirement plan while offloading some of the administrative and fiduciary responsibilities at a potential cost reduction. A team of professionals work together on your behalf so you can focus on running your business, not your retirement plan.

Student Loan Repayment Program Update

Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney.

Hey Joel,

I am a fiduciary/committee member to a retirement plan. Am I required to receive ongoing fiduciary training? - Curious in California

The Internal Revenue Service’s (IRS’s) Employee Benefit Audit Program is used to audit and enforce. The IRS’s emphasis, with respect to defined contribution plans is on compliance with the requirements of the Internal Revenue Code (the Code), the plan’s tax qualification and administration of all plan documents. In the event of noncompliance with regulations, the IRS can impose taxes, penalties and interest.

Fees in defined contribution (DC) plans can be complicated. Historically, fees have not been fully and simply disclosed, but the industry is changing towards greater and more understandable disclosure.

Should you reduce your plan’s fees to better serve participants? Many vocal experts speaking on behalf of investors and participants say “yes” – unequivocally. But what about the investors and participants themselves? What do they say?