Changing the Game for Retirement Plan Sponsors – What You Need To Know May 23, 2012 – IMA CFO Breakfast Roundtable – Collier County May 24, 2012 – IMA CFO Breakfast Roundtable – Lee County Sponsored by HBKS Wealth Advisors Most CFOs have some responsibility for their company’s qualified retirement plan. Therefore, a CFO’s understanding of how the U.S. Department of Labor’s new fee disclosure regulations will impact your company, employees, and plan’s operation is critically important. Become informed and   [Read More...]

by R. Dean Piccirillo, CFP®, CRPS®, AIFA® Principal/Senior Financial Advisor HBKS Wealth Advisors As many retirement plan sponsors are now aware, the Department of Labor’s three-pronged approach to fee disclosure for 401(k)s  and other qualified plans, has brought about a series of changes that have marked the past several years. The first phase of these fee disclosures required disclosure from a plan sponsor to the regulator through Schedule C of Form 5500.  This disclosure, through the tax return required to   [Read More...]

Group variable annuity products are not inherently bad choices as 401(k) investment options. However, the plan sponsor should appreciate that these are packaged products built by insurance companies and the underlying investment options are not considered retail mutual funds, but are annuity separate accounts. Consequently, the underlying fees associated with each separate account should be compared to the fees for the same retail investment option.

Beginning in February 2010, the IRS is launching an examination of 6,000 randomly selected companies to focus on employment tax issues. This will involve taking a close look at 2,000 random companies per year over the next three years. The primary focus will be on worker classification, executive compensation, fringe benefits, non-filers and reimbursed expenses. The IRS states the audits will provide data for its first statistical analysis since 1984 of how often companies misclassify workers to avoid tax obligations,   [Read More...]

The landscape for employers sponsoring retirement plans is changing rapidly due to a variety of market, regulatory and judicial actions. In order to mitigate a plan sponsor’s liability and make the best use of this tool for your plan’s participants, it is important to periodically review plan design and other processes.