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Understanding the Share Class Alphabet Soup

Understanding the Share Class Alphabet Soup

Choosing mutual funds for your retirement plan’s investment lineup can feel like wading through a sea of alphabet soup. Fund companies typically offer multiple share classes, each sporting its own unique letter. A shares, C shares, I shares, R shares — what does it all mean? Luckily, you don’t have to be a mutual fund…

House Passes and Senate Debates SECURE 2.0

House Passes and Senate Debates SECURE 2.0

On May 26th, the Senate Health, Education, Labor and Pension (HELP) Committee circulated a discussion draft  of the RISE and SHINE Act. This followed the House of Representatives’ passage of  H.R. 2954, the Securing a Strong Retirement Act of 2022 (“SSRA”). These are commonly thought of as competing versions of “SECURE 2.0”. Both Acts (if adopted in…

A Guide for Employers Dealing with Missing Participants

A Guide for Employers Dealing with Missing Participants

Locating missing plan participants can be a headache for any employer, but simply ignoring them is not an effective solution. With the increase in the number of “pre-retired” missing plan participants, governmental bodies are now taking additional measures to provide solid guidance and solutions to help streamline this arduous process for plan sponsors. Plan sponsors…

DOL Chimes in on Cryptocurrency

DOL Chimes in on Cryptocurrency

On March 10, the DOL issued Compliance Assistance Release No. 2022-01 expressing skepticism about the prudence of offering cryptocurrency investment options within ERISA plans. So, can plan fiduciaries include cryptocurrencies without violating their fiduciary duties? The DOL didn’t foreclose the possibility, but has its doubts. The release advises plan fiduciaries to approach decisions about adding…

5 Things to Know Before Changing Service Providers

5 Things to Know Before Changing Service Providers

Offering a competitive benefits package, including a top-notch 401(k) plan, is essential for your company to recruit and retain top talent. Today’s workers highly value employer-sponsored retirement plans; 91% of workers value a 401(k) or similar retirement plan as an important benefit. In addition, eight out of ten new hire candidates consider retirement savings programs…

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SEP or 401(k) Profit Sharing Plan

Which Should You Choose? The Simplified Employee Pension Plan (“SEP”) IRA and the 401k Profit Sharing Plan (401k PS) are two of the most common retirement plans for successful small businesses and self-employed individuals, since they offer high contribution limits and flexible annual contributions. But which is right for you—the SEP or 401k PS? That…