Regional Vice President of Sales The Retirement Plan Company
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Loan & Distribution Specialist AimPoint Pension
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Compass
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Bates & Company, Inc.
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AimPoint Pension
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Some Kinds of Compensation to Plan Service-Providers Are Not Just 'Prohibited', They're Flat Out Illegal
Business of Benefits Oct. 20, 2020 "[M]any do not realize that there is a specific 'anti-kickback' rule applying to ERISA plans that is NOT found in ERISA, but instead under criminal law.... The language of the statute is broad, and looks at first glance to be able to cover a number of poorly designed compensation schemes or service arrangements. We all know that doing something as foolish as buying a plan sponsor a car in order to keep its 401(k) business would clearly step over the line. But there are some other, maybe more familiar, arrangements which could raise some issues." |
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