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Bates & Company, Inc.
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Compass
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Defined Benefit Combo Cash Balance Compliance Consultant

Loren D. Stark Company (LDSCO)
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AimPoint Pension
(Remote / Pompano Beach FL / AL / GA)

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Loan & Distribution Specialist

AimPoint Pension
(Remote)

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16 Matching News Items

1.  SECURE 2.0 Adds Flexibility for Switch from SIMPLE IRA to Safe Harbor 401(k)
Conrad Siegel Actuaries Link to more items from this source
Feb. 29, 2024
"Before SECURE 2.0, an employer had to wait until the end of the year to switch from a SIMPLE IRA to a 401(k) plan.... Now, under SECURE 2.0, an employer can replace its SIMPLE IRA with a safe harbor 401(k) at any point during the year. For a mid-year transition, the employer contribution obligation for the year is prorated. Any employee SIMPLE IRA deferrals count toward the 401(k) limit."
2.  Retirement Plan Investment Menus: Taking a Look Into the Industry Average
Conrad Siegel Actuaries Link to more items from this source
Sept. 22, 2023
"Plan Sponsors want to know how their menu looks compared to peers. There are two primary reasons for this. First, a retirement plan is used as a retention tool and sponsors want to make sure they are competitive with their offering. Second, sponsors have a fiduciary responsibility and want to be in-line with industry standards. [This article highlights] a few aspects of the menu that ... are not only interesting but important considerations for a fiduciary.... It's important to remember that there is not a one-size-fits-all investment lineup."
3.  Education and Financial Wellness: Roles in a Retirement Plan
Conrad Siegel Actuaries Link to more items from this source
June 19, 2023
"A new study finds that the ongoing economic environment continues to heighten pressures for employees, who are turning their attention to their employer benefits for educational support.... What topics should be covered for employees? ... How should education and wellness be delivered to participants?"
4.  Retirement Plan Fiduciary Mistake: Focusing Solely on Past Investment Performance
Conrad Siegel Actuaries Link to more items from this source
Sept. 20, 2022
"In times of extreme market volatility such as we are experiencing currently, past performance could turn on a dime. It's not uncommon for non-index funds to perform several percent below their benchmark due to their security selection and sector weightings. We have seen category ranking moves from mid-30's to mid-70's within one quarter. Looking solely at past investment returns may lead to premature decisions which could negatively impact a plan's long-term investment strategy."
5.  Is the IRS Going to Fix the 'Family Glitch'?
Conrad Siegel Actuaries Link to more items from this source
May 15, 2022
"The IRS issued a proposed rule on April 5, 2022 to close a loophole in the ACA policy affecting subsidies in the ACA marketplace.... [T]his proposal could indirectly affect employers as many spouses and dependents may elect to enroll in the ACA marketplace plans instead of the employer plan. This also opens the door for more employers to encourage spouses and dependents off their plans by increasing the cost that they pay to stay on the plan."
6.  The Do's and Don'ts of Your 401(k) Fund Lineup
Conrad Siegel Actuaries Link to more items from this source
Sept. 22, 2021
"Plan sponsors should make it easy for participants to have a well-diversified portfolio.... Develop a standalone menu of funds, which allows you to give participants the opportunity to develop a properly diversified portfolio on their own.... [T]oo many options can be confusing for participants and actually cause them to make poor decisions or no decision at all."
7.  Retirement Investing Through a Pandemic
Conrad Siegel Actuaries Link to more items from this source
Apr. 20, 2020
"While using some of your current more conservative investments to buy more aggressive investment options may seem like a good idea, timing the market is extremely difficult.... Rather than taking a speculative approach, instead consider reassessing your risk tolerance periodically to determine if your account is allocated appropriately based on your age and the level of risk you are comfortable taking."
8.  COVID-19 and the Affordable Care Act
Conrad Siegel Actuaries Link to more items from this source
Apr. 8, 2020
"Employers having to enact layoffs (without termination) or furloughs for their employees face the greatest potential for inadvertently triggering the 'sledgehammer' penalty under the ACA.... Employers who officially terminate employees do NOT have a responsibility for continuing to offer individuals coverage, but employers furloughing or moving employees to an unpaid leave status may have a responsibility for offering coverage under the Mandate."
9.  Impact of the CARES Act on Employer-Sponsored Health Plans
Conrad Siegel Actuaries Link to more items from this source
Apr. 8, 2020
"Steps for Employers: [1] Ensure that COVID-19 testing and coverage requirements are in place.... Employers should carefully consider any deviation from the standard programs put forth by their TPA. [2] Communicate OTC changes for tax-advantaged accounts, and update plan documents if needed. [3] For sponsors of QHDHPs, evaluate whether or not you wish to provide telehealth benefits with no application of the deductible."
10.  Building a Successful Investment Committee
Conrad Siegel Actuaries Link to more items from this source
Feb. 20, 2020
"A critical step in meeting your fiduciary responsibility is to start an investment committee or strengthen your current one.... [1] Committee structure ... [2] Identifying roles ... [3] Sample committee agenda ... [4] Investment committee building blocks ... [5] Steps for a successful committee meeting."
11.  New Health Benefits Survey Shows Continued Employer Focus on Containing Costs (PDF)
Conrad Siegel Actuaries Link to more items from this source
May 26, 2016
"Of employers who do offer spousal coverage, 27 percent required a surcharge to cover the spouse, compared to 16 percent in 2014. The average surcharge in 2015 was $2,288, which increased from $1,730 in 2014....The average percentage of the medical premium that employees paid for single coverage in 2015 was 15 percent, which has remained relatively constant over the past several years. The average premium share for family coverage was 20 percent in 2015.... 50 percent of employers offer a plan with either an HSA or an HRA account option. This is up significantly from last year at 41 percent."
12.  Costs of Medical and Prescription Drug Benefits Continue to Rise for Central Pennsylvania Employees and Families (PDF)
Conrad Siegel Actuaries Link to more items from this source
June 11, 2013
"88 percent of the companies who responded now require employees to share in the cost of their health premiums. Results from a similar survey in 2009 found that 77 percent of employees shared in the cost of their health premiums ... In line with national surveys, the most common type of plan offered continues to be the preferred provider organization (PPO) ... Central PA lags significantly with 11 percent in QHDHP compared with 26 percent nationally."
13.  Understanding the Role of the Investment Fiduciary (PDF)
Conrad Siegel Actuaries Link to more items from this source
Mar. 1, 2013
"A guide for those responsible for a 401(k), 403(b), or profit sharing plan's investments[:] Who is considered a fiduciary with respect to a plan's investments? ... What are the basic responsibilities of a plan's investment fiduciaries? ... What happens if a fiduciary does not fulfill his or her duties? ... I am an investment fiduciary, but I am not an expert. Can I outsource my liability? ... What type of fiduciary should I hire to help us oversee our plan?"
14.  Pressed for Cash? Switching Jobs? Don't Touch That Retirement Fund
Conrad Siegel Actuaries Link to more items from this source
June 1, 2012
"For many, the concept of a retirement and savings account has become blurred, when in reality the funds set aside for retirement are meant to be set aside over the long-term to grow. The challenge becomes how to grow your retirement fund on a tax-deferred basis, and to tap in to other means with a less negative long-term impact if you find yourself temporarily out of the workforce or with an unplanned financial need."
15.  Understanding Defined Contribution Plan Fees (PDF)
Conrad Siegel Actuaries Link to more items from this source
Mar. 6, 2012
What this means for a vigilant plan sponsor is that in order to fulfill the ERISA fiduciary duty of knowing all plan expenses, a fair amount of digging must still be done in calculating all plan fees and ensuring they are reasonable given the services provided. And since there is no real standard for quantifying plan costs and equating them to services, the plan sponsor is still left with few tools to make a meaningful comparison among providers ... [T]his is not to say that plan fees are unknowable -- the plan sponsor just needs to know where to look to find the information.
16.  Defined Contribution Retirement Plan Investment Committees: Best Practices (PDF)
Conrad Siegel Actuaries Link to more items from this source
Apr. 20, 2011
[H]ow do you structure an investment committee for maximum effectiveness? What are some best practices that are generally followed by successful investment committees? These are areas where the law does not give specific guidelines.

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