List of National 401k Recordkeepers
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Newsletter Sponsor Now is a Good Time to Review Your 401k Plan Fees The 401k Averages Book is the most recognized source for comparative, non-biased 401k average cost information. Use the 401k Averages Book to better understand the investment, recordkeeping, and revenue sharing expenses for all size 401k plans. It is designed to provide professionals with essential fee information to help their clients determine if their plan costs are above or below average. All 401k fee charts and tables are updated for 2016. Click here for more information. In This Issue
Insight: Studies, Research, and White Papers List of National 401k Recordkeepers Abstract: There are hundreds of companies that provide recordkeeping services to 401k plans, but only 37 that provide service nationally. 401kTV has compiled this complete and current list of national 401k recordkeepers. Source: 401ktv.com
»» Click here for More Studies, Research, and White Papers General Items Finding Hidden 401k Fees in Participant Disclosure Notices Abstract: In a 2015 study of 4,368 retirement plan participants, NARPP found that 89% could not correctly calculate their account fees. However, all is not lost. If you are a 401k participant, you can still uncover all the fees deducted from your account, even the undisclosed ones. This article shows you how. Source: Employeefiduciary.com Robo-Advisers Steer 401k Plan Litigation Trend Abstract: Robo-advisers -- companies that provide digital financial advice -- are winning ground in the retirement plans industry, but with that growth comes some legal challenges. Source: Bna.com (registration may be required) Plan Automation Three Ways to Get an Automatic Enrollment Plan Out of Its Rut Abstract: Inertia is a powerful force in nature, and in human behavior. Even the most proactive and engaged plan designs (and plan designers) can, over time, slide from being in a groove to being in a rut. Here are three ways to reinvigorate automatic plan designs. Source: Asppa.org »» Click here for more on Automatic 401k Plan Features Court and Other Legal Issues TIAA Lawsuit Puts the Spotlight on 403(b) Participant Loans Abstract: Participant loans from 401k plans have never been an employer favorite plan provision. Now participant loans from 403(b) plans have come into focus. It's in the form of a class action lawsuit recently filed by participants in the Washington University 403(b) plan against TIAA. The Plaintiffs allege that TIAA violated several provisions of ERISA regarding the manner in which loans were administered. Source: Retirementplanblog.com The Latest Trend in Excess Fee Litigation Abstract: The newest wave of retirement plan lawsuits targets self-dealing in the sponsored plans of several big name financial firms. This latest trend proves that even industry professionals get lax with their procedures and fail to properly fulfill their fiduciary duties. However, Plan Sponsors can take simple, effective steps to prevent themselves from falling to the same fate. Source: Ekonbenefits.com »» Click here for more Court and Other Legal Issues State-Based Retirement Programs Resolutions Introduced in Congress to Block State-Sponsored Private-Sector Retirement Plans Abstract: Rep. Tim Walberg, chairman of the Subcommittee on Health, Employment, Labor, and Pensions, and Rep. Francis Rooney have introduced two resolutions of disapproval (H. J. Res 66, H. J. Res 67) to block DOL regulations allowing state-sponsored private-sector retirement plans. Source: House.gov Oregon Treasury Proposal Puts 401k Plans at Risk Abstract: The Oregon State Treasury has put forth a proposal in support of its state-run plan for private-sector workers who don't have a plan at work, that could affect private-sector 401k plans. Source: Napa-net.org DOL's Fiduciary Rule DOL Files for Delay in Fiduciary Rule Applicability Date Abstract: It looks like that much-anticipated delay in the applicability date of the DOL fiduciary regulation might be a reality, or at least on its way to becoming one. Late Thursday evening, Feb. 9, the DOL sent documents to the Office of Management and Budget for approval, citing sources familiar with the agency's actions. Source: Napa-net.org Dallas Court Approval Thwarts Trump's Attempt to Block DOL Rule Abstract: A Dallas federal judge's decision on Wednesday to uphold the Labor Department's fiduciary rule buttresses supporters' efforts to prevent the Trump administration from overturning the rule. Source: Investmentnews.com (registration may be required) Trump's Order on DOL Rule Sows Chaos in Financial Advice Industry Abstract: A Trump administration effort to give the financial industry clarity about the fiduciary rule has thrown it into a state of chaos. The executive order sent by the President of the United States to the Department of Labor mandating a review of the fiduciary rule has changed it by either 180 days or 180 degrees -- or both. Source: Riabiz.com Fiduciary Rule Delay Gets Mixed Reaction in Plan Sponsor World Abstract: The retirement plan advice industry has already made changes with the times, so large employers appear to be largely unconcerned with President Donald Trump's decision to put the Department of Labor's fiduciary rule on hold. However, the picture is a bit muddier with small employers. Source: Bna.com (registration may be required) »» Click here for more on the DOL's Fiduciary Rule Compliance and Regulatory Accounting Treatment of Refund of Excess Contributions Abstract: This short article looks at whether retirement plan contributions that end up exceeding legislative limits for the plan year can still be considered contributions on the plan's financial statements. Source: Belfint.com Correction of Elective Deferral Failures Abstract: It is not uncommon for the sponsor of a 401k plan to discover that elective deferral contributions were not deducted from the pay of certain eligible employees as the result of an operational or procedural error. The IRS provides specific guidance for this error. Source: Voya.com Maintaining Retirement Plan Records Abstract: Employers who sponsor a retirement plan are required by law to keep books and records available for the IRS to review. Having these records available is also helpful when determining participant benefits. What records should you keep and how long must they be retained is address in this article. Source: Consultrms.com What Are the Biggest Problems With 401k Loans? Abstract: Most workplace retirement plans allow participants to take a loan against their retirement plan balance, but administering the option carries risks for plan fiduciaries. Here are what the IRS has identified as the most common plan loan failures. Source: Asppa.org »» Click here for more Compliance and Regulatory Material Marketplace News ERISA Litigator Christopher Rillo Joins Jenner & Block CUNA Adds TPA Relationship Manager PensionPro Acquires Benefit Insights Community Bank System Completes Acquisition of Northeast Retirement Services »» Click here for More Marketplace News
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