Maybe it’s just me, but people always seems to be clamoring for my opinion. For example, my receipt from the automotive repair place tempts me with a $5 coupon toward my next oil change if I call and complete a survey. Or I get calls on my home phone (so 2008, I know) pelting me with questions about my political views, or even more intrusive, my choice in paper products. It’s enough to drive me off the questionnaire cliff.
So you might think it’s strange that I want to talk to you about surveys, or even encourage you to complete one. But I have a good reason why. When you take the 403(b) plan survey from the Plan Sponsor Council of America (PSCA), you’ll get much more out of it than a discounted oil change. Read more
Tax the rich! Raise their rates! Limit their deductions! That seems to be the populist mantra. It’s perpetuated in the press, and there’s some indication that the general public seems to support the idea. Now middle class workers with higher than average incomes seem to be caught up in discussions defining those that are “rich.”
As this applies to tax-exempt organizations, we’re talking about hospital administrators, educators, executive directors of local community and other charitable organizations – people who generally earn a better than average income, yet by no stretch of the imagination do their incomes compare to Warren Buffett’s. And when it comes to the impact on their employers’ retirement plans, shouldn’t the tax structure support retirement readiness for those who have dedicated their careers to giving back to their communities? Read more
As a numbers guy – in the insurance industry to boot – one might be surprised to know that I enjoy playing the guitar as much as I love analyzing tax-exempt retirement plans!
I’ve learned it’s one thing to own a really cool guitar (and having it sit in the corner collecting dust), but it’s another to pick it up and practice regularly so you can truly enjoy it.
Maybe the same is true for some employers with their participant education plan. The plan might look good on paper, but could use a little work in order to hit the right notes with employees. So I’d like to provide some best practices to help you create a participant education plan that can rock. Read more
I think it’s a safe bet to say we’ve all paid a lot more attention to retirement plan fees in the wake of the new DOL (Department of Labor) disclosure requirements. This is true for 401(k)/403(b) plans and beyond. Fortunately (or unfortunately) we can’t avoid the topic!
It’s likely no one pays more attention than the plan fiduciary. After all—it’s their job to work with the service provider and financial professional to make sure the fees paid by the plan are “reasonable.” But what exactly does “reasonable” mean? Read more
Welcome to my blog! I look forward to posting (and interacting) regularly with you about issues affecting pension plans in the tax exempt sector.
To kick off my first post, I thought it would be timely to address some industry buzz.
Rumor has it that the DOL (Department of Labor) recently hired a lot of new field auditors, which could only mean one thing – more audits. I think it’s safe to say that more 403(b) plans will be put on the firing line as well. Just what we need, right? Well, a little work now and some knowledge may help, so keep reading.