401k Advisors & Employee Benefit News
Benefit News by San Francisco 401(k) Advisors
Rick Holden is a principal member and helped to establish the San Francisco office of Cambridge in 2002. Rick holds the Registered Representative and the Investment Advisor Representative designations by having passed FINRA’s Series 7 and Series 65 exams respectively. He is also a licensed insurance agent and designs comprehensive insurance plans for clients.
With the recent stock market volatility, retirement plan fiduciaries are wondering what they should be doing, or if they have done enough, to help participants cope with down markets. Following are three governance items for you, as a fiduciary, to follow in times of market turmoil. As 401(k) Advisors, we work with retirement plan fiduciaries to [...]
In-service rollovers are poorly understood by both plan sponsors and participants. A 401(k) plan must specifically allow for this feature. Greater desire for asset allocation and diversification has highlighted the risks associated with having a majority of a participant’s retirement assets with just one plan and one company stock. An in-service rollover may help you [...]
Because the defined benefit pension plan is less common today than the 401(k) plan, there’s general confusion about how pension plans actually work. The defining difference is that a pension plan promises a specific benefit (such as monthly income) to participants, while a 401(k) plan has no such guarantee. Unlike a 401(k) plan, a defined benefit pension plan [...]
On October 24th, 2007 the Department of Labor (DOL) issued the long awaited qualified default investment alternatives (QDIA) final regulations. The DOL retained much of the proposed regulations, but also offer a few new opportunities as well as some new variables. Safe harbor relief is available to fiduciaries of participant-directed 401k plans where certain conditions [...]
As you know, the United States was hit hard this year by tornadoes. There was a record number of EF5, the most fierce of all tornadoes. The death toll is now the highest it has been since 1950. Many have lost homes, cars, and businesses. As a result of these natural disasters, many have [...]
Form 5500 Annual Return/Report of Employee Benefit Plans and related instructions were revised in 2007 by the U.S. Department of Labor (DoL), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC). According to a press release from the DoL, the three significant changes to the Form 5500 for plan year 2007 [...]
The Department of Labor (DoL) has recently released new rules regarding the ERISA 408(b)(2) Servicer Provider Rules and ERISA 404(a) Participant Disclosure Rules. 408(b)(2) regulations become effective July 1, 2012. Service Provider Rules (ERISA 408(b)(2)) The final rule extends the date of Service Provider Fee Disclosure to July 1, 2012. This allows service providers an [...]
For 2013 401k Contribution Limits, Click Here On October 20, 2011, the IRS announced 401k contribution limits for 2012. This means that the 2012 pre-tax contribution limit for 401k plans will be $17,000 up from $16,500 with an index for inflation set at $500 increments. 2012 Maximum 401k Contribution Over 50 Increased [...]
Many participants and retirement plan sponsors are focused on their 401k investment choices. In today’s uncertain economy, people are trying to understand which 401k investment choices may be most appropriate. To help answer that question and to better understand the investments within a 401k plan, we can look to the recent credit crunch and recession. Recession & [...]
A Summary of Health Care Reform measures which became effective in 2010. Health Care Reform 2010: Insurance Reforms Establish a temporary national high risk pool to provide health coverage to individuals with preexisting medical conditions. (Effective 90 days following enactment until January 1, 2014). Provide dependent coverage for adult children up to age 26 for [...]
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