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An Exclusive Case Study from Larkspur-Rixtrema Lets examine one of the plans from the 401k FiduciaryOptimizer tool. For example, if we take a look at VEEAM SOFTWARE CORPORATION 401(K) PLAN, we can see a huge potential to save from taking another look at the alternative funds that the Plan Sponsor can choose from. In this example, the alternative funds are selected from the Open Architecture. The amount of the saving is staggering as it can be seen on the Low Fee Alternative report: It is about 3 million dollars for the plan of 14 million dollars. If I would be an advisor and a fiduciary, I would be calling the...

Daniel Satchkov

27 Jun 2018

A List of Issues Found in 403b Plans

SOURCE Compiled from lists published by the IRS, DOL and Auditors, here are 10 items to check and review to make sure your 403b plan is operating in line with IRS and DOL expectations: 1. Universal Availability Issues: a. Excluding “part time” employees without using or having the 20 hour rule in the plan document or misusing the 20 hour rule. No document should use the phrases “part time” or “full time” in 2018. Such language is an invitation for the DOL or the IRS to ask the plan sponsor for the definition used and to discover that the plan sponsor is using health insurance rules in a 403(b) plan...

Daniel Satchkov

26 Jun 2018

Five New Members Announced to the 2018 ERISA Advisory Council

Source WASHINGTON, DC – Today the U.S. Department of Labor announced the appointments of five new members as well as chair and vice chair to the 2018 Advisory Council on Employee Welfare and Pension Benefit Plans, known as the ERISA Advisory Council. “The ERISA Advisory Council advises the Department’s work in enhancing and preserving the health and retirement benefits of America’s workers,” said U.S. Secretary of Labor Alexander Acosta. “These professionals will help the council accomplish its goals. Their expertise will be a valuable complement to the Department’s mission to protect workers’ benefits.” Continue reading here: Five New Members Appointed to the 2018 ERISA Advisory Council

Daniel Satchkov

26 Jun 2018

15 Traits No Financial Advisor Should be Without

1. Be sure to have a good reputation. Getting a strong referral from a past client can be a sign that people feel comfortable enough to recommend your services to other. A consistent track record will help build your reputation through referrals for years to come 2. Utilize a deep analytical ability. Successful financial advisors know that the risk and return relationship drives almost every aspect of a financial plan. Therefore it is important to be able to manage all the aspects of a portfolio and more importantly to do it well. 3. Never panic. Be patient and never panic as it is critical to your success. Remember to evaluate...