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
(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, 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.
Todd 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.
On October 27, 2016, the Internal Revenue Service announced the 2017 Cost-of-Living Adjustments (COLA) to the retirement plan limits.
Below is a chart outlining the COLA limits that become effective January 1, 2017, along with the two prior tax years’ limits.
Brian Allen, President, was recently quoted in PLANADVISER’s article “Dividing Up the Roles”. Brian discusses how Pension Consultants segments its staff’s talent to maximize their value for clients. He also shares his thoughts on what skill levels are needed with assigning responsibilities. Click to read the full article in PLANADVISER and learn more about creating a structured staff of specialized experts.
Robert McCracken, CFP®, Consultant, Investment Services, was recently quoted in PLANSPONSOR’s article “Fear Factor – Standing up to the possibility of employee pushback”. Rob discusses the concerns employers have about auto-enrollment and employees’ actual perception of it. Continue reading
Compensation errors are one of the most common plan administration related errors that the Department of Labor (DOL) and the Internal Revenue Service (IRS) find when auditing qualified retirement plans. One of the best ways to avoid compensation errors is to first truly understand what your plan’s definition of compensation actually provides. Understanding the basics is crucial because if you don’t know how your plan defines compensation, the risk of errors in operating the plan is sure to increase.
So, how exactly does your plan document define compensation? Is it clearly defined as “Code § 3401(a)”? “W-2 wages”? “415 simplified compensation”? Or is it more detailed than that, specifically detailing what is to be included/excluded in a long, difficult-to-decipher definition? If it’s the latter and you’re not entirely sure what your definition of compensation entails, be sure to seek guidance on the matter. Continue reading
(Springfield, MO, February 23, 2016) – 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 2016 PLANSPONSOR Retirement Plan Adviser of the Year award. 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
Pension Consultants, Inc. tops the list of the area’s largest certified financial planner professionals (CFP®) in the January 18-24, 2016 print edition of the Springfield Business Journal. The article ranks southwest Missouri area companies by the number of certified financial planner (CFP®) professionals and then by financial planning staff. Pension Consultants retains their number one ranking from the previous year. The article also lists assets under management (AUM) and assets under advisement (AUA), and services offered. Listed services include retirement plan management, individual retirement planning, investment management, financial planning, and more.