Saving Money on Plan Administration Costs

While the economy may be improving, everyone we know is still attempting to cut costs where they can. As you do this within your own company, we would like to share with you an idea for reducing the amount of fees paid for plan administration…allocate an annual administration fee to terminated participants. As retirement plans[ … ]

10 Common Mistakes that Occur in Retirement Plans

There are a lot of combos that bring a smile to your face when you hear them: Peanut butter & Chocolate Laverne & Shirley (or for the younger set… Beavis & Butt-Head) Joe Montana & Jerry Rice Bacon & … anything Audit & Department of Labor I doubt that last one is on your list. [ … ]

Amendment & Restatement: Is your plan included?

Most retirement plans have adopted a pre-approved plan published by a third party. If your plan is included, you may see the term “prototype” or “volume submitter” in the plan document or on its cover page. You can also refer to the “Federal income tax status” footnote of your plan’s audited financial statements to see[ … ]