Expert’s Corner

The Investment Policy Statement (IPS) provides well-defined criteria and principles that enable prudent oversight of the retirement plan, and consistent, informed decision-making that keeps plan sponsors and the investment committee on track with the plan’s goals and processes.  Perhaps most importantly, the IPS evidences the plan sponsor’s fidelity to its fiduciary obligation, which is to act in the best interest of the plan’s participants ahead of its own. As such, an IPS serves as both a roadmap to plan success…

Given the complexity of 401(k) and 403(b) retirement plans, it’s not difficult for plan sponsors to trip up. Whatever the cause, missteps can be extremely costly—running from fines to plan disqualification—and government oversight is increasing. The results of a 2016 Willis Towers Watson survey of 300 U.S. retirement plan sponsors reveal that during the last two years, one in three retirement plans has been audited by the Internal Revenue Service (IRS) or Department of Labor (DOL). The audit rate for…

Since 2006, a raft of lawsuits have been filed by participants in both 401(k) and 403(b) retirement plans. Large corporations such as General Electric, Philips North America, Mutual of Omaha, and Home Depot have been sued in connection with perceived deficiencies in how they managed their 401(k) plans. Institutions of higher education are not immune from this onslaught. 403(b) lawsuit defendants are among the most prestigious institutions of higher education, including Brown University, Columbia University, Duke University, Emory University, University…

By Trisha Brambley, Founder of Retirement Playbook, Inc.™ Today, 75% of Plan Sponsors use the services of an Investment Advisor for their retirement plan[1]. Many of these plans (up to 75%) do not have a specialized Retirement Advisor while others may have outgrown the Advisor they do have. The providers too are seeing an increase in companies looking for that “best fit” Advisory Firm. A high quality firm can offer outstanding investment and retirement plan expertise. Plan Sponsors are looking…