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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.
Guidelines for Benchmarking 401(k) Admin and Investment Fees

Guidelines for Benchmarking 401(k) Admin and Investment Fees

By: Eric Droblyen

August 8th 2018

Employers have a fiduciary responsibility to pay reasonable fees for 401k plan administration and investments. This job can be easy using simple guidelines.
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401(k) Fee Levelization – It Can Make Revenue Sharing Worse!

401(k) Fee Levelization – It Can Make Revenue Sharing Worse!

By: Eric Droblyen

July 11th 2018

401k providers claim "fee levelization" makes revenue sharing payments more transparent and fair. In truth, the complicated process can do the opposite.
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401(k) Fidelity Bonds – Frequently Asked Questions

401(k) Fidelity Bonds – Frequently Asked Questions

By: Eric Droblyen

June 27th 2018

An ERISA fidelity bond protects 401(k) plan participants against losses caused by acts of fraud or dishonesty. Employers should understand their basics.
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Four 401(k) Plan Services That Justify Higher Provider Fees

Four 401(k) Plan Services That Justify Higher Provider Fees

By: Eric Droblyen

May 30th 2018

To avoid 401k fiduciary liability for paying excessive fees, pay as little as possible for “commodity” 401k services and extra for “value-added” ones only.
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3 Common 401(k) Provider Conflicts of Interest!

3 Common 401(k) Provider Conflicts of Interest!

By: Eric Droblyen

May 2nd 2018

Employers have a fiduciary responsibility to evaluate their 401(k) provider's conflicts of interest. They risk personal liability when they don't.
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401(k) Plan Coverage Testing – What Employers Need to Know

401(k) Plan Coverage Testing – What Employers Need to Know

By: Eric Droblyen

April 18th 2018

The IRC section 410(b) coverage test ensures a 401(k) plan sufficiently covers Non-Highly Compensated Employees. Employers should understand its basics.
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Department of Labor Guidance for Paying 401(k) Fees from Plan Assets

Department of Labor Guidance for Paying 401(k) Fees from Plan Assets

By: Eric Droblyen

April 4th 2018

The DOL divides 401(k) fees into two categories – administrative and settlor expenses. Employers can only pay administrative expenses from plan assets
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Unpacking the Complex Web of Insurance Company 401(k) Fees

Unpacking the Complex Web of Insurance Company 401(k) Fees

By: Eric Droblyen

March 21st 2018

All insurance company 401(k) providers - including John Hancock, Empower, Voya, Principal – charge hidden fees. Plan fiduciaries must be able to evaluate them.
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401(k) Plan Compensation – What Employers Need to Know

401(k) Plan Compensation – What Employers Need to Know

By: Eric Droblyen

February 21st 2018

A 401k plan can require multiple definitions of employee compensation. To keep their plan in legal compliance, employers must understand all of them.
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Are Profit Sharing Contributions Right for Your 401(k) Plan?

Are Profit Sharing Contributions Right for Your 401(k) Plan?

By: Eric Droblyen

January 10th 2018

Pro rata, permitted disparity, and new comparability are types of 401k profit sharing contributions. Employers should know if they’re right for their plan.
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