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Proposed New Requirements for Pooled Plan Providers

Fulcrum Partners Fulcrum Partners News

In order to remove possible barriers to the broader use of multiple employer plans, the Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”) of 2019 authorized the establishment of Pooled Employer Plans (“PEPs”), which are defined contribution plans that provide retirement benefits to employees of two or more unrelated employers funded entirely through individual retirement accounts.

Department of Labor Thanks the Rosies

The Department of Labor Says “Thank You” to The Rosies

Fulcrum Partners Human Resources

Today the US Department of Labor (DOL) honors the “Rosies”. The history-making women who riveted, welded, and took on roles as first responders during World War II are collectively known as the “Rosies”. By stepping in to effectively handle jobs previously held by men, the Rosies enabled the production of the planes, ships, tanks, arms and munitions that empowered the …

Top Hat Plans: What Executives and Organizations Need to Know

Top Hat Plans: What Executives and Organizations Need to Know…and Why

Fulcrum Partners. Deferred Compensation News

This past January, the U.S. Government Accountability Office (GAO) published its initial findings after conducting a review of executive retirement plans, specifically, top hat plans. The study came in response to a request filed by U.S. Senators Ron Wyden (Oregon), Bernie Sanders (Vermont), and Patty Murray (Washington).

This article looks at 1.) the GAO’s report; 2.) the final rulings by the U.S. District Court in the class action lawsuit of Berry v Wells Fargo & Co; and, 3.) the implications of both on Top Hat plans in general.

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Electronic Disclosure Safe Harbor for Retirement Plans

Fulcrum Partners. Human Resources

Last week, the Department of Labor (DOL) finalized regulations for the new “notice and access” safe harbor for retirement plans. Known as “NOA Safe Harbor,” the new guidelines permit plan administrators to send required disclosures to plan participants and beneficiaries via email or other electronic means, including allowing employers to post retirement plan disclosures online.

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Your Fiduciary File: What Plan Sponsors Should Keep

Fulcrum Partners. Deferred Compensation News

With tax season in full swing, lists of “What records to keep at tax time” or “How long to keep my tax records” are always plentiful on financial and lifestyle blogs and websites. But last week, the Strategic Retirement Partners blog published a helpful checklist that deals specifically with which records to keep (and for how long) in a Fiduciary …

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ICYMI: DOL Narrows Standards for Selecting Socially Responsible Retirement Plan Investments

Fulcrum Partners. Human Resources

Fulcrum Partners is pleased to share the following report, prepared by the Employee Benefits group at Isler Dare PC: DOL Narrows Standards for Selecting Socially Responsible Retirement Plan Investments. You may read or download the full report as a PDF here.   Executive Summary On April 23, 2018, the Department of Labor (“DOL”) published guidance on the extent to which retirement plan fiduciaries …

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DOL Narrows Standards for Selecting Socially Responsible Retirement Plan Investments

Fulcrum Partners. Human Resources

Fulcrum Partners is pleased to share the following report, prepared by the Employee Benefits group at Isler Dare PC: DOL Narrows Standards for Selecting Socially Responsible Retirement Plan Investments. You may read or download the full report as a PDF here. Executive Summary On April 23, 2018, the Department of Labor (“DOL”) published guidance on the extent to which retirement plan fiduciaries can take …