• CASE OF THE WEEK – Proxy Voting on Securities Held in Qualified Plans
    August 25, 2023 - To understand who is responsible for voting proxies for securities held in a qualified retirement plan, refer to the governing plan documents. The plan document should clearly outline the authority for proxy voting and ensure that the process and procedures comply with DOL regulations that prioritize prudence and loyalty. Continue
  • PRESS RELEASE – The Retirement Advantage, Inc. Welcomes Nic Irick to Bolster Regional Plan Consulting Team
    August 22, 2023 - The Retirement Advantage, Inc. (TRA), a prominent provider of retirement plan solutions, is proud to announce the latest addition to its Regional Plan Consulting (RPC) team. Continue
  • CASE OF THE WEEK – Retirement Plans and FDIC Coverage
    August 18, 2023 - Retirement funds deposited within an FDIC-insured institution receive coverage if they're allocated to deposit products such as checking accounts, savings accounts, money market deposit accounts, or certificates of deposit (CDs). The extent of coverage is contingent upon factors such as the nature of the retirement assets being self-directed or administrator-directed, as well as their classification as contingent, noncontingent, or overfunded sums. Continue
  • Plan Sponsors Ask…
    August 15, 2023 - A robust retirement plan that prioritizes participants can serve as a competitive advantage for employers seeking to attract and retain top talent. As the workforce evolves in the aftermath of the pandemic, data analysis can provide valuable insights to inform plan design decisions, including eligibility criteria, employer contributions, automatic solutions, and the provision of participant financial advice. By implementing an effective plan design, employers not only have the potential to attract skilled professionals but also provide a valuable tool for employees to save for their future. Continue
  • Pre-Launch Planning
    August 8, 2023 - This resource provides up-to-date information on various retirement plan subjects, encompassing SECURE 2.0 (pre-passage), diversity, equity and inclusion, plan design, governance, legislation, investment management, and participant advice. Moreover, if you're considering the implementation of a financial wellness program for your employees, the survey offers valuable insights on the key components involved in the process, highlighting the following three essential elements. Continue
  • CASE OF THE WEEK – Updating the Plan Administrator
    August 4, 2023 - M&A situations often overlook the importance of retirement plans, leading to confusion, mistakes, and potential risks. It is crucial to update the Plan Administrator, the authorized person or entity responsible for making decisions regarding the retirement plan. By doing so, we can ensure a seamless and secure retirement plan administration process. Continue
  • Plan Sponsors Ask…
    August 1, 2023 - With the implementation of SECURE Act 2.0, starting from plan years commencing on or after December 29, 2022, plan administrators can now accept participant certification as sufficient evidence of meeting the eligibility criteria for a 401(k) or 403(b) plan hardship distribution. This means that additional documentation is no longer required in such cases. Continue

Consider TRA's 3(16) Fiduciary Services & Plan Administration

To alleviate the day-to-day administrative burdens of yours or your clients retirement plans.