Understanding automatic enrollment in your 401(k) plan

We’ve all been there: starting a new job. The amount of information and paperwork can be overwhelming. It’s no surprise that reading up on and enrolling in a 401(k) plan isn’t at the top of everyone’s priorities. What may be surprising is that about half of all households age 55 and older have no 401(k) …

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Open Enrollment

Open Enrollment Time Again – As a Plan Administrator what questions should you be asking yourself? • First and foremost you should ensure that the Plan Document and your Summary Plan Description (SPD) is up-to-date and supports the plan administrative practices that the Plan Administration has put into place.  For example, if your Plan Document states …

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Auto Enrollment: Improving 401(k) Nondiscrimination Results

Has your company been having problems passing your 401(k) nondiscrimination tests? One thing you may consider as a fiduciary is discussing automatic enrollment with your Third-Party Administrator. You may be wondering if the extra costs of additional employer matching contributions plus costs of additional implementation and administration expenses are worth the trouble. However, considering the …

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