While I love college football, I’m not a pro football fanatic by any means. I do enjoy a few good pro games each season – and am so glad those painful pre-season games are behind us! Yet I’m always intrigued by how the coach will play their star players for maybe the first quarter and then usher in a gaggle of no-name back-ups to finish it out. It makes for must-snore TV.
I know it’s for good reason – they want to keep their starters healthy, evaluate their second and third stringers, etc. But I wonder if they don’t go with their best line-up, how will they really know what level of talent they’ll have on the field once the real season starts?
I liken this to what I learned from the recent results from surveys by the Plan Sponsor Council of America. I realized that the 401(k) plans were largely outscoring 403(b) plans in some key plan features. Read more
Ah, summer time! I’m not one of those people who prefer summer over the other seasons, but I will admit it has its delights. For example, I was able to get together with one of our field service leaders recently, and we had some time to throw a line in the water and do a little fishing. Some people play business golf. I do a little business fishing.
(Maybe someday, if I could ever elevate my golf skills to “lousy”, I could add a little business golf in there as well.)
Whether it’s fishing or golf, the opportunity to maintain and develop business relationships on a face to face basis is of key importance. Read more
In the retirement plan world, change equals opportunity for financial professionals, and change has been a constant among 403(b) plans since the Internal Revenue Service (IRS) passed significant regulations in 2007 (effective 2009). But the biggest opportunity for change right now lies in one key segment of the 403(b) market: private higher education. Private colleges are discovering there are better ways to approach retirement plans for their participants. Read more
I usually don’t get worked up about too many things. One former colleague actually referred to me as “Spock.” Sure, if I had a chance to jam with someone like David Gilmore or John Petrucci, or even if my cat did something blog-worthy, you’d probably get a fist bump out of me – maybe even a shout out on Twitter.
So when the fifth annual 403(b) plan survey from the Plan Sponsor Council of America (PSCA) recently came out, I won’t go so far as to say I was giddy. But I was very pleased and – dare I say excited – to see the numbers from the latest survey of 403(b) plans, from participation and savings to employer contributions, generally point in one direction: up. Read more
I recently wrote a blog post for Employee Benefit Adviser. If you didn’t see it there, we are reposting it here on The Principal® blog. Article originally posted at http://eba.benefitnews.com.
There is a movement afoot to put state governments in the business of offering retirement plans to private citizens, which would ultimately eliminate opportunities and siphon business away from financial professionals. Read more
Hooray! After years of waiting, the IRS has issued Rev. Proc. 2013-22. This procedure provides a way for service providers to get pre-approved 403(b) plan documents for their clients’ use. Read more
We all have to deal with clutter that piles up in our lives – whether it’s mail piling up on the kitchen counter, emails overtaking our inboxes or cell phone charger cords that tangle up our car consoles.
These days 403(b) plan sponsors face the task of cleaning up the clutter of “legacy assets” that threaten to clog up their plan administration efforts. Legacy assets are essentially the plan assets left at prior providers which plan sponsors still have to account for.
Finding the most efficient way to deal with these plan assets seems to be a recurring question lately. Employee Benefit Adviser recently asked me to offer some guidance on this confusing and concerning topic. Check out my answer in the video posted to their website. Read more