Plan documents are the written agreements which describe the terms and conditions of a retirement plan. Let's discuss what's inside.

Fiduciary responsibility refers to the legal and ethical obligation to act in the best interests of another party.

Fiduciary liability raises serious questions within companies about not only the quality of employee care but also concerns about what responsibilities fiduciaries outside of the company must meet for their clients.

The interest in 3(16) Fiduciary Services is not slowing down. Yet, these services may not be the best option for every retirement plan. Not all 3(16) fiduciaries offer the same services, and not every plan sponsor needs the same assistance with administrative duties.

Let's start by defining a Fiduciary. A fiduciary is an entity or person responsible for overseeing the administration of the retirement plan. Every retirement plan must have at least one named fiduciary, and many times that person is the business owner. However, typically employers do not have the experience, knowledge, or time to properly manage the administrative work in conjunction with their daily responsibilities as business owners. To avoid issues like burnout and costl

Below is an outline of the newly released 2021 contribution limits, which will take effect on January 1, 2021. There are not many increases in 2021. The key increases are: Annual compensation limit is increased from $285,000 to $290,000 Annual additions limit for defined contribution plans is increased from $57,000 to $58,000 Social Security Wage Base is increased from $137,700 to $142,800 SEP Threshold is increased from $600 to $650 ESOP: Account Balance is increased from