Retirement Plan Roundup - July 2022
Summer is finally here, and for many of us, that means a bit of downtime. Leading into it, we assisted two clients with inquiries from IRS and DOL. Hot tip – it’s true; they are on the lookout for operational and fiduciary failures. Courtenay also spoke at Institutional Investor’s Retirement Plan Advisor Summit in Miami about ESG investing, and DCIIA/SPARK’s Public Policy Forum in DC weighing in on the advisor’s perspective of cybersecurity. On a cool note, our very favorite budgeting software, You Need a Budget, announced a corporate wellness offering. You should check it out! (We don’t receive anything, we just love them.)
Mark Your Calendar
We've got a webinar coming up on August 25 with CE credit entitled, Asset Allocation Considerations for a Changing World.
Regulatory Round-up
DOL released guidance in March discouraging Cryptocurrencies and other digital assets for retirement plans. Now they face a lawsuit.
The Senate Finance Committee voted 28-0 to favorably report an amended version of the Enhancing American Retirement Now (EARN) Act, which includes more than 70 proposals aimed at helping more Americans save. This is their version of the House’s SECURE 2.0. Senators from both parties noted that they hope the full Senate will approve the legislation quickly and they can begin working with the House on merging the differences between the bills in order to approve the legislation before Congress adjourns for the year.
Speaking of what's happening in our nation's capital, the 2022 National Association of Plan Advisors DC Fly-In Forum will be held July 26-27 and we’re on the planning committee. We’ll be lobbying for expediting and merging the proposals above.
RPI Blog Round-up
Want to know what we’re talking about on our blog? Here’s the latest:
One of our clients recently posed this question to us: “We have some foreign employees coming on board; what do we need to be thinking about for them regarding our 401(k) plan?” Read this article for our answer!
Whether it's ESG investing, lifetime income, or M&A, there's always something going on in the retirement plan industry. Here's a look at some of the trends we saw this past spring.
It's no secret that businesses are experiencing a labor crunch. This article recaps my chat with Mike Dullaghan, AIF of Putnam Investments on how this will affect retirement plans (plus it includes a few things we see, as well).
What we're talking about Live on Linkedin
Twice a month or so we hop on Linkedin and talk to the interwebs about pertinent retirement plan topics. Follow Courtenay to view these.
In Courtenay's most recent LinkedIn Live, Rosalyn Brown, CRPS, discusses the benefits of implementing Diversity, Equity and Inclusion (DEI) practices and how they may affect benefits.
What's the Great Regret? Tom Horne of People Element has the answer, plus some sage advice on employee engagement.
If you have foreign employees, you may be wondering how to handle their company retirement plans (or if they even qualify). Courtenay has some tips on what you need to consider and what you should tell those employees.
If you need a refresh on what we do, it's here, but the TL;DR version is we work with growing organizations to navigate them to smart decisions on their retirement plan -- now and as the organization changes.
There are quite a few plans that are underserved these days, so if you need to chat about yours or know someone else who does, contact us!