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Benefit Plan Sponsors › Form 5500 › Fiduciary Duty

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

You don’t have as much leverage as you think

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

As a plan fiduciary, I still can’t believe it. A Third Party Administrator (TPA) we terminated was trying to hold us up for valuations and a Form 5500 we paid for, as part of, annual administration. It was $80,000....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

It’s amazing how bad administration can be

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Most administration conducted by third-party administrators (TPAs) is quite good, but the juicy and scary stories are about the terrible TPAs and the havoc they create....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Plan Sponsors Can’t Overpay for Plan Services

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

When I was 13 and I had my Bar Mitzvah, I plunked down about $2,000 in 1985 money for a state of the art Apple IIe with a monochrome monitor. One of the first pieces of software I bought was the top desktop publishing...more

Groom Law Group, Chartered

SECURE Act and Spending Bills – Impact on Plan Sponsors

Groom Law Group, Chartered on

The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), the largest package of retirement system reforms in over a decade, was enacted on December 20, 2019.  Many of the provisions in the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

A plan sponsor shouldn’t pay more than they need to

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

When I was 13 and I had my Bar Mitzvah, I plunked down about $2,000 in 1985 money for a state of the art Apple IIe with a monochrome monitor. One of the first pieces of software I bought was that top desktop publishing...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Call an ERISA attorney when you get the government’s call

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

When you get pulled over by the police while driving, the best way to handle is to be pleasant and not be argumentative. You listen to the officer as to why he pulled over. Being belligerent and non-cooperative will only lead...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

What all good 401(k) plans have

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

There are so many articles for plan sponsors (I’ve written quite a few) where they go on and on about what plan sponsors need for a successful 401(k) plan. Rather than go into a whole diatribe, here is a Reader’s Digest of...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Review that ERISA bond, because it might not be one

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

All ERISA plans need an ERISA bond that protects the plan from thefts of plan assets by plan fiduciaries. ERISA requires that every fiduciary of an employee benefit plan and every person who handles plan assets be bonded. ...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - July 2016

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

How Retirement Plan Providers Can Deal With The Fiduciary Rule Change. Adapt to this change. At its prime, Blockbuster Video had 9,000 stores and was actually bought by Viacom in 1994 for $8.4 billion. Then some...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

10 Concepts That Every Retirement Plan Sponsor Should Know

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

Unless they are involved in the retirement plan industry a plan sponsor must delegate much of their duties to retirement plan providers that may include third party administrators (TPAs), financial advisors, and ERISA...more

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