DirectAdvisors is pleased to announce our 2nd video podcast in our ongoing retirement plan podcast series. Our guest in this episode was Matt Petralia, Regional Director, Northeast Region of Newport Retirement Services (Newport Group). Matt spent a few minutes speaking with DirectAdvisors’ Co-Founder and President, Tom Santa Barbara, on multi-employer plans, with a particular focus on Pooled Employer Plans (PEPs), which were introduced as part of the SECURE Act of 2019.
DirectAdvisors is proud to announce our first video podcast! We were excited to have Matt Boyle, Director of Operations at CEFEX, as our first guest. Matt spent a few minutes this afternoon speaking with DirectAdvisors’ Chief Investment Officer, Jeff Ricchiuti, on CEFEX certification — what it means, how it benefits our clients, and what the CEFEX process involves.
As you might be aware, fiduciary liability insurance and ERISA fidelity bonds are not one and the same. Both serve to mitigate risk for fiduciaries, and both are critical aspects of an employee benefit plan. However, it’s important to understand the differences between these two safety nets, as well as the degree to which your plan should be protected by each.
DirectAdvisors is proud to announce that it has successfully completed its 3rd annual renewal of its CEFEX certification.
The preparation of retirement plan account statements has traditionally required a great deal of paper, ink, time, and money. Printed statements that are mailed to plan participants are not environmentally friendly, are less secure, require more staff labor, and add extra costs to the administration of a retirement plan. With that in mind, a new e-delivery rule from the Department of Labor (DOL) could benefit your plan in a variety of ways.
Retirement Plan Podcast Series #10 – Hear Ye, Hear Ye: Required Disclosures to be Provided to Participants
There are all sorts of different documents you need to provide, and many of them have different deadlines. We take a look at some of the most important disclosures, their deadlines, who they need to be provided to, and your options for distributing them.
The adoption agreement is your guidebook on the features associated with your retirement plan, and is something you and your administrative team should be very familiar with. It is critical that you follow the rules in your adoption agreement to help ensure the Plan stays compliant.
Fees have been a hot topic in the retirement services industry for some time now, and rightfully so. You don’t want your investment earnings to be eaten away by fees, but how can you tell what fees are being paid from your plan? And what fees are considered to be reasonable? You want to know if what you’re paying is appropriate.
Fiduciaries are considered an integral part of a retirement plan. They hold very important responsibilities and must adhere to specific best practices, or else they can be held personally liable.
Cybersecurity threats pose a tremendous risk to plan sponsors and participants alike. Here’s how to protect your workers’ assets and limit your company’s liability.
As a Plan Sponsor, you’re tasked with all sorts of administrative requirements – determining eligibility of participants, providing required notices, depositing employee deferrals on time — the list goes on. There’s good news though, you’re not in this alone. DirectAdvisors has put together a helpful overview of these requirements to help you stay compliant and successfully navigate the administration on your plan.
Retirement Plan Podcast Series #5: Get Rich Slowly: The Key to Helping Participants Maximize Their Retirement Plan
How much money do you need to retire, and just how many people out there even have enough saved to retire?
Retirement Plan Podcast Series #4: Making Sense of the Investment Options Within Your Retirement Plan
You’ve likely heard the phrase “don’t put all your eggs in one basket,” and you probably know that as a Fiduciary, you’re required to ensure that the Plan offers a diverse set of investment options, but just how many options should you be offering, and just how diverse do they need to be?
Did you know that as a Highly Compensated Employee you may be even further restricted from contributions? And were you aware that there are limits to both how much the employee AND the employer may contribute?
For the majority of the Plans we work with, adding a Roth feature is a great way to attract and retain employees. It’s a fairly easy option to administer within the Plan, assuming your payroll provider can integrate this feature, and it gives employees flexibility and control over their retirement dollars. But does it make sense for your Plan?
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act as part of the federal stimulus package intended to stabilize the economy during the COVID-19 pandemic. The CARES Act has opened up a number of provisions for employer-sponsored retirement plans by making additional funds available to Plan participants who are impacted by COVID-19.
Retirement Plan Podcast Series #1: Designing Your 401(k) Plan: Options for Employees to Access Retirement Dollars
We’ve spoken with thousands of participants regarding retirement planning, and while most of that time is spent planning how to get dollars into their retirement plan (e.g., how much to save, how to invest), it is equally important that you and your participants understand how that money will come back out. We’re all saving for a reason, and that is to eventually use this money. So what sort of options do you have to offer your employees?
With a rapidly changing market comes the need to rebalance your portfolio to ensure you maintain your desired asset allocation. Volatile markets and global economic crises don’t happen every day, but they have certainly impacted investors’ portfolio balance in recent weeks. Regardless, it’s best for the long-term growth of your portfolio if you commit to regular rebalancing.
If you have been watching the markets’ response to the recent worldwide Coronavirus outbreak (COVID-19), you may wonder about the status of your investments. There’s no question that this health scare has had an impact on the markets, both in terms of stock prices and the recent bond rate slash by the Federal Reserve.
As you may have seen in the news recently, on December 20, 2019, the SECURE (Setting Every Community Up for Retirement Enhancement) Act of 2019 was enacted by Congress. This legislation has been viewed by many as the next step in helping to ensure that every American...