In a very, VERY small nutshell, the point and purpose of the DOL’s recently released proposed fiduciary rule is to level the playing field for all financial professionals interacting with retirement plans—401k, etc. as well as IRAs. It establishes an enforceable fiduciary standard of care DOL believes to be consistent with the Employee Retirement Income Security Act. Here’s a summary.

Fiduciary liability can feel like an incredible burden to bear, even for HR professionals. Job requirements day to day are demanding enough without adding retirement plan management on top of it. That’s where a fiduciary financial advisor comes in to help carry the weight of it all.

Now that you have your prime directive in place, let’s talk about why it’s important for your employees, your company culture, and the sustainability of your business. 

When it comes to building your retirement plan, before you do anything you need to know what your prime directive is in relation to benefits and retirement for your employees, your company culture, and the sustainability of your business. 

Yesterday I had the pleasure of speaking on an American Bar Association webinar sponsored by the Joint Committee on Employee Benefits. Webinars are always difficult -- there's so much information to get through that valuable nuggets often get left out. Here are the last minute deletions:

The IRS announced today that there will be no cost of living increases next year. Important limits related to retirement plans for 2016 are as follows.

Target Date Funds as the default: Super easy, pre-made, autopilot portfolios that match up with the year closest to when you'll retire. But, they’re certainly not all created the equal and as a default choice require extra focus on the due diligence.

Beginning in 2015, IRA owners will no longer be able to complete more than one 60-day rollover in a 12-month period, regardless of the number of IRAs they own. BUT the one-rollover-per-12-month rule does not apply to rollovers between an IRA and a qualified retirement plan (e.g., 401(k), profit sharing, defined benefit, 403(b) plan, etc.) or vice versa. Details here.

When discussing enrolling in a retirement plan, it's incredibly important to speak in terms that will resonate with everyone in the room. Without universal appeal, you risk being a roadblock to someone's retirement. 

"Let's put it this way: if employment is a product, then what would the candidate want to buy?" said Juan Pablo Gonzalez, who works with companies to design compensation packages, among many other things, at Axiom Consulting Partners. He may have implied at a dinner party that a match or a retirement plan may not be the best investment for an employer's dollar...and I may have been mildly offended at first!

Courtenay Shipley of Retirement Planology, Inc. recently participated as a delegate to the 2015 NAPA D.C. Fly-In Forum, an exclusive gathering of the nation’s leading retirement plan advisors.

In 2012, one of my clients had asked everyone to take a pay cut, had discontinued their match, and was just trying to keep the doors open until the recession waned. Let’s talk about how culture helped them stay afloat.

Conducting an RFP for a new retirement plan provider? Here are five important questions to ask during your due diligence.

Our friend, Dan Doran of Quantive Valuations, provides business valuations for owners looking to sell, buy-sell agreements, estate planning, and 409(a) compensation. He wrote a great piece on planning for the future and how your business' value fits into your personal picture. Here ya go:

So... where exactly does your retirement plan fit in? That's at the heart of our consulting practice. Is the plan doing what it's designed to do for you -- or, back up one step -- what's it supposed to do??

Plan advisors from VA had a great time this morning talking with Senator Warner's staffer about tweaking the DOL's proposed fiduciary regulation. I thought it might be good to share what we said while packed in the tiny conference room!

ALEXANDRIA, VA — Courtenay Shipley, CRPS, AIF, Chief Planologist of Retirement Planology, Inc. has been selected as a delegate to the National Association of Plan Advisors’ (NAPA) DC Fly-In Forum, an exclusive gathering of the nation’s leading retirement plan advisors.

Surely you've heard that you eat an elephant one bite at a time, meaning that you have to attack a large problem in small, systematic increments. 

I'm a fan of James Clear, who writes about science-based ideas for mastering your habits and living an optimal life. It's part of my "if I can only harness my habits" obsession of late. He wrote a great post called How to Stop Procrastinating by Using the “2-Minute Rule” and it totally hits home when it comes to retirement.

I had the privilege of being in a finalist presentation today, which is always fun. The retirement plan committee asked a very pointed question at one point that caught me off guard.