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The Frugal Fiduciary Small Business 401(k) Blog

Get the latest industry news, deadlines and tips you need to know to help tackle your fiduciary responsibility needs.
The Myth of the 15 Minute 401(k) Plan Setup

The Myth of the 15 Minute 401(k) Plan Setup

By: Eric Droblyen

July 13th 2016

The consequences of a poorly-designed or misunderstood 401(k) plan are great. Small businesses should take more than 15 minutes to setup a new 401(k) plan.
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John Oliver Should Be Upset; His Hancock 401k Fees Are Too High!

John Oliver Should Be Upset; His Hancock 401k Fees Are Too High!

By: Eric Droblyen

June 29th 2016

John Oliver attacks his company’s John Hancock 401k plan. Hancock makes misleading statements in rebuttal. What’s the truth about Hancock 401k fees?
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401(k) Disclosure Rules Are Out of Date; It’s Time for Common Sense Reform

401(k) Disclosure Rules Are Out of Date; It’s Time for Common Sense Reform

By: Eric Droblyen

June 1st 2016

Current ERISA regulations make electronic delivery of participant disclosures risky for small business 401(k) fiduciaries. It's time for reform.
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How to Evaluate 401(k) Provider Competence in 2 Easy Steps

How to Evaluate 401(k) Provider Competence in 2 Easy Steps

By: Eric Droblyen

May 18th 2016

ERISA requires small business 401(k) fiduciaries to select “competent” 401(k) providers, but this job can be difficult due to the technical complexity of 401(k) services. To simplify the evaluation of provider competence, fiduciaries should focus on objective criteria that indicate competence.
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What’s the #1 Reason for 401(k) Lawsuits?  Overpriced or Superfluous 401(k) Services

What’s the #1 Reason for 401(k) Lawsuits?  Overpriced or Superfluous 401(k) Services

By: Eric Droblyen

May 4th 2016

The DOL’s new fiduciary rule will make the value of 401k services more important than ever. Small business 401k fiduciaries should root out overpriced or superfluous 401k services to protect themselves from personal liability.
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Picking 401(k) Investments and Related Services Is Easy When Fiduciaries Know Their Options

Picking 401(k) Investments and Related Services Is Easy When Fiduciaries Know Their Options

By: Eric Droblyen

April 6th 2016

Given the dizzying array of 401(k) investment options and services, small business 401(k) fiduciaries are often confused regarding the best options for their plan. The process of 401(k) investment decision making can be made easy by breaking it down.
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SEC Money Market Reform Will Affect Many Small Business 401(k)s in 2016; 401(k) Fiduciaries Should Understand its Consequences

SEC Money Market Reform Will Affect Many Small Business 401(k)s in 2016; 401(k) Fiduciaries Should Understand its Consequences

By: Eric Droblyen

March 9th 2016

SEC money market reforms will take effect in 2016. If a 401(k) includes a money market fund in its investment lineup, small business fiduciaries should understand the consequences of these reforms in order to decide if their plan’s money market fund should be replaced in advance of the new rules.
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Shopping For a 401(k) Plan Doesn’t Need To Be Overwhelming For Small Businesses; A Checklist Can Help

Shopping For a 401(k) Plan Doesn’t Need To Be Overwhelming For Small Businesses; A Checklist Can Help

By: Eric Droblyen

January 27th 2016

401k provider services can vary dramatically in breadth, depth and price. This variability can make it difficult for small business 401k fiduciaries to select providers with services that match their plan’s needs at a reasonable price. A checklist can make this job easier.
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Happy Holidays from the Frugal Fiduciary! Our Top 10 Blogs of 2015

Happy Holidays from the Frugal Fiduciary! Our Top 10 Blogs of 2015

By: Eric Droblyen

December 30th 2015

During 2015, the Frugal Fiduciary Blog covered a variety of 401k topics. Our 10 most popular blogs for the year can be found here.
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Understanding a 401(k) Plan’s Fiduciary Hierarchy Can Make It Easier for Employers To Meet Fiduciary Responsibilities

Understanding a 401(k) Plan’s Fiduciary Hierarchy Can Make It Easier for Employers To Meet Fiduciary Responsibilities

By: Eric Droblyen

December 16th 2015

401(k) fiduciary responsibility is receiving increased attention, but employers are still unclear about meeting their plan’s fiduciary responsibilities.
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