An End-Around on Hardship Withdrawal Rules

It seems we don’t need to wait anymore for major pieces of legislation in order to get changes made in 401(k) plans. The Bipartisan Budget Act passed back in February contained several significant changes in the laws surrounding hardship withdrawals. Hardship withdrawals are premature distributions that are permitted from a retirement plan typically for reasons… [Read More]

Dodging the Tax Reform Bullet

Ran through bullets. Businessman running dodge obstacles. Concept business illustration. Vector flat

There is a real retirement savings crisis brewing in this country. Many folks are simply not saving enough to pay all their expenses for 20 or more years in retirement. That is why it was alarming when some of the early proposals of the tax reform package that was recently passed included such disincentives to… [Read More]

Are Annuities a Viable Retirement Solution?

A basket of golden eggs

As more Baby Boomers close in on their ultimate retirement date, the dilemma of how to offer them choices for cashing out their retirement accounts becomes a pressing issue. I’ve seen many employers design their plans to pay out a lump sum only – leaving the retiree to figure out how to structure their income… [Read More]

Fiduciary Rule Change Delay Results in No Changes

Fiduciary Rule Change Delay Results in No Changes

Well, the 60-day delay in implementing the Department of Labor’s new Fiduciary Rule came to an end with a big fat goose egg in the results column. This new rule – which requires all financial advisors providing services to retirement plans to put their clients’ interests of ahead of their own – has been a… [Read More]

What the Delay in the DOL Fiduciary Rule Means for You

What the Delay in the DOL Fiduciary Rule Means for You

On April 4, the Department of Labor delayed the start of the new Fiduciary Rule by 60 days. Put simply, the rule requires financial advisors to put the interests of their clients ahead of their own. Originally due to become applicable on April 10, the date has been pushed back to June 9. While there have… [Read More]

The Impact Trump’s Election Will Have on Retirement Plans

Annuities- coins

The surprise election of Donald Trump is beginning to settle in and we now have time to think about how his positions during the campaign will impact the retirement industry going forward. There are three main areas we think will be affected: Regulations: Trump campaigned that government regulations were strangling business growth. In the retirement… [Read More]

Plan Fees in the World of Participant Lawsuits

Plan Fees in the World of Participant Lawsuits

Recently, retirement plans at several major universities, including Yale, MIT, NYU and many others, have had suits filed against them by their participants over excessive fees. Many of these lawsuits involve issues that predominantly pertain to 403(b) plans, such as multiple plan providers, and they are primarily coming out of a single St. Louis law… [Read More]