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Document Retention: Loans and Hardships

December 9, 2016 | Category: Documentation | Posted by Ashley Naab

Hardship and Loan Distributions: What Documents Need to be Kept One area where Plan Sponsors have a lot of confusion is around documentation regarding hardship withdrawals and loans. Even if hardships and loans are processed through one of the plan’s vendors, the Plan Sponsor has a responsibility to obtain and retain the documentation (either electronically […]

Gifts from Service Providers

February 17, 2016 | Category: Documentation, Governance | Posted by Deana Harmon

It May be Easier to “Just Say No”   Whether to accept certain gifts from service providers and what to track for reporting on the IRS Form 5500 can be complicated. With all of the other complexity you have as a retirement plan sponsor or fiduciary, it may be easier to “just say no”.  “Just […]

What Employers can learn from the Anthem 401(k) Lawsuit

January 8, 2016 | Category: Documentation, Fees & Expenses, Governance, Plan Design | Posted by Doug Prince

The 401(k) lawsuits against large companies comes to Indiana. According to Groom Law Group, since 2007, there have been nearly 40 lawsuits about fees and expenses paid by employees in 401(k) plans.  Law firm Schlichter, Bogard & Denton, LLP has been the lead plaintiffs’ counsel for many of these suits.  On December 29, 2015, Anthem […]

The Advantages of Adopting a Fee Policy Statement

November 11, 2015 | Category: Documentation, Fees & Expenses, Governance | Posted by Chase Sanders

Like an investment policy statement (IPS), a fee policy statement is designed to lay out guidelines for the plan sponsor to manage and document plan expenses. Also like an investment policy statements, fee policy statements are not required, however we believe it is a best practice and strongly encourage all of our clients to have […]

403(b) Plans and Universal Eligibility

March 2, 2015 | Category: Documentation | Posted by Doug Prince

A few changes have been made to the 2014 IRS Form 5500 that may require 403(b) retirement plan sponsors to take action early and complete an audit for their retirement plan. Do I need an audit of my 403(b) Retirement Plan? If you have 100 or more employees, you may need a plan audit. One […]

3 Simple Tips to Organize Your Plan Documents

January 14, 2015 | Category: Documentation | Posted by Brea Dantin

Have you ever distributed old retirement plan documents to your employees? It can happen to anyone – especially if you don’t have the information properly organized. In nearly every company, files are accessed by more than one individual, which makes it easier for papers to get lost in the shuffle. Additionally, many plan documents are […]