You’re a Plan Fiduciary – Now What?

As a plan fiduciary, you are charged with overseeing plan management with the goal of providing a good plan for your employees.

Plan management includes selecting and monitoring plan investments, selecting and monitoring plan service providers, assisting employees in preparing for a successful retirement, and the administration of the plan.Each area of plan management will require fiduciaries to use discretion that may impact the participants in the plan and their beneficiaries. Continue reading

Why Do We Even Have a Retirement Plan?

7K0A0223If you make decisions regarding the administration of your employer’s retirement plan or its investment choices, then you are a fiduciary to the plan. As a fiduciary, you are charged with making decisions that can impact the employees’ assets in the plan, and ultimately their retirement readiness. Those decisions must be prudent, but they should also drive your plan toward being a good plan. However, you may ask what does it mean for a plan to be a good plan?

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Pension Consultants, Inc. Named a 2017 NAPA Top DC Advisor Firm

1(Springfield, MO, September 26, 2017) – Pension Consultants, Inc. (“PCI”), a leader in offering performance-driven retirement plan management, was recently named on the National Association of Plan Advisors’ (NAPA) first-ever Top Defined Contribution (“DC”) Advisor Firm List. NAPA’s Top DC Advisors is a compilation of leading individual advisor firms and advisor teams, ranked by DC assets under advisement. Nevin Adams, Chief Content Officer of the American Retirement Association and Editor-in-Chief of NAPA-Net states that the list “. . . highlights the contributions these firms are making in helping build a more financially secure retirement for millions of Americans.”1

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The Tools Your Retirement Plan May Be Missing: Auto-Enrollment & Auto-Escalation

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What are your goals for your retirement plan? Are you a plan sponsor reviewing your plan and wondering to yourself, “Why is my plan not performing competitively against others,” or even more so, “How do I increase employee participation in my retirement plan?”

The answer could be, as we will outline in this post, something as simple as adding auto features to your plan design.

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Pension Consultants Hosts Annual Pension Focus Conference

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Over this past week, Pension Focus hosted another successful year of the Pension Focus Conference (“PFC”).

Hosted at the beautiful Chateau on the Lake in Branson, Missouri, the PFC focuses on providing in-depth, retirement plan management education for both plan fiduciaries and plan administrators.

This year PFC was fortunate to have several speakers from various avenues of retirement plan management ranging from ERISA attorneys, to a consumer behaviorist, to a Department of Labor representative. Among those speakers was our nationally-recognized keynote speaker, Mr. Bradford Campbell, ERISA attorney at Drinker, Biddle & Reath, LLP. Continue reading

Pension Consultants named a 2017 PLANSPONSOR Retirement Plan Adviser of the Year finalist

(Springfield, MO, February 28, 2017) – Pension Consultants, Inc., a leader in offering in-depth, un-conflicted advice on every aspect of retirement plan management, was recently named one of five finalists for the 2017 PLANSPONSOR Retirement Plan Adviser of the Year award. This is the second straight year Pension Consultants, Inc. has been named a finalist for Plan Adviser of the Year. PLANSPONSOR, a national publication, is the leading authority on retirement and benefits programs and is dedicated to helping employers navigate the complex world of retirement plan design and strategy. Continue reading

Todd Hughes Quoted in DETROIT FREE PRESS

Todd Hughes, JD, Director, ERISA and Vendor Services, was recently quoted in a DETROIT FREE PRESS article “Would you know if you are paying too much in fees with your 401(k)?”. Todd explains how excessive fee lawsuits have increased concerns about conflicts of interest and the lack of transparency in the retirement plan management industry. Click to read the full article in the DETROIT FREE PRESS and learn more about the need for fee transparency – not only to help avoid lawsuits but to also help participants minimize extra costs.

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Todd Hughes Quoted in PLANSPONSOR

PLANSPONSER Article - Getting to a Better PlaceTodd Hughes, JD, Director, ERISA and Vendor Services, was recently quoted in PLANSPONSOR’s article “Getting to a Better Place – Improving a plan through the RFP/RFI process”. Todd discusses how Pension Consultants was able to help its plan sponsor clients reduce their record keeping fees. He also explains what plan sponsors need to do annually to track their plan fees and services in between the times they go out for a formal search. Click to read the full article in PLANSPONSOR and learn how the RFP process can help deliver a top-performing plan.

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Saving for College Tuition without Sacrificing Your Retirement Goals

Saving for College without Sacrificing Retirement GoalsParents’ lives change the minute their child is born.  Once the excitement wears off, they start to see how their financial situation has changed as well.  Their human nature is to sacrifice greatly for the betterment of their children. As parents, they need to manage those sacrifices, so they do not end up sacrificing their retirement goals as well.  One major obstacle for parents investing in their retirement is also saving for the increasing costs of their child’s future college education. A survey by T.Rowe Price, “Parents, Kids, & Money”[1], reveals how conflicted parents are trying to save for both retirement and college: Continue reading