The concept of ‘governance’ could not be timelier. In the non-ERISA world, plan sponsors are charged with managing a plan that they often know very little about, especially within the multi-provider, separate recordkeepers construct. Well-meaning investment providers are often presumed to care more about their bottom line than being trusted as a partner in benefit solutions. That stigma trickles down to boots on the ground advisers…
A good governance plan simplifies life for all involved by reinforcing the established plan objectives, accurately representing the fiduciary structure, and details the processes and the required documentation. Without good plan governance, these details are often overlooked and can increase the risk for both litigation and liability.
In today’s evolving regulatory environment, it’s essential to make sure defined contribution plans are compliant and effective for their participants. Putting together a Plan Governance Program achieves both goals and is important both for plan sponsors and plan participants, even for plans not governed by ERISA requirements.
What is the first thing you do when you start a new fitness regime or diet plan? You start with reviewing what is in your pantry and removing any junk foods and other items that no longer fit within your plan. Much in the same way, if you’re looking to modernize your plan, you need a plan.
If you are like many school district employees, there is a good chance you are using a 403(b) plan as a supplement to your pension to build a healthier retirement. Many of you probably signed up with a sales rep or agent that came to visit your school offering you their proprietary investment products. Perhaps they bought you lunch in the teacher’s lounge and gave a short presentation about the 403(b) basics. You listened and absorbed as much as you could, but there is a chance that all your other provider options were not fully presented to you.
As defined contribution takes over as the main retirement savings vehicle from defined-benefit plans, the system must resolve the issue of forgotten accounts.
by Fred Barstein via RPAConvergence.com
IPX platform is programmed to oversee all 403(b) retirement plan provisions to ensure compliance to State and Federal laws. Additional all TPA have access to IPX compliance report to provide additional oversight.
View on 403bcompare.com
Top administrators discuss the physical, mental, and financial wellness of their districts during this virtual event.
via PRWeb.com
Platform enhancement allows 403(b) advisors to access annuity products alongside other investment vehicles and promote stronger participant outcomes
AdvisorConnect is a support network of plan sponsor-approved, registered financial professionals who specialize in the public-sector retirement space and has been designed as a value-add to plan participants seeking customized financial solutions.
By Rebecca Moore at planadviser.com