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.

Blog Feature

Multiple Employer Plans | Thought Leadership | Fiduciary Responsibility

401(k) Cybercrime – Key to Keeping a Plan Safe Is Not Delegating Fiduciary Responsibilities

By: Eric Droblyen
September 20th, 2017

Two weeks ago, Equifax – one of the country’s biggest credit reporting agencies – announced that its systems were hacked by cybercriminals, exposing the Social Security numbers, birth dates, addresses, and driver's license numbers of 143 million Americans. Unfortunately, this huge data breach was not unprecedented. The personal information for 1 billion Yahoo users and 145 million eBay users was exposed in 2013 and 2014, respectively.

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Retirement Planning | 401(k) Studies | Thought Leadership

Expanding Small Biz Retirement Plan Coverage – 401(k) Reforms Are Needed

By: Eric Droblyen
July 12th, 2017

According to AARP, Americans are 15 times more likely to save for retirement when they can do so by payroll deduction through a 401(k) or other employer-sponsored retirement plan. However, while most large businesses – companies with more than 100 employees – sponsor a retirement plan, 51 to 71 percent of small businesses don’t. Because workplace retirement plans make savings – and in turn, a comfortable retirement – dramatically more likely for workers, increasing this percentage is essential.

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401(k) Plan Design Checklist

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Subscribe to the The Frugal Financial Small Business 401(k) Blog and receive this free checklist for help in determing the best 401(k) plan design options and fit for your company.

Blog Feature

401(k) Fees | Plan Design | Thought Leadership | Fiduciary Responsibility

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

By: Eric Droblyen
December 30th, 2015

Happy Holidays! As 2015 comes to a close, we looked back through this year’s blogs to find the most read. This process was instructive. We learned our most popular blogs were the ones written to simplify 401k administration or fiduciary requirements for employers. You can expect more blogs covering these topics during 2016. So, in case you missed them the first time, or just want a refresher, here are our top 10 most read blogs of 2015.

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Thought Leadership

VC-Backed 401k Startups: A Paradigm Shift or Flash in the Pan?

By: Eric Droblyen
August 12th, 2015

This year, three Internet-based companies joined the retirement plan services industry – Honest Dollar, ForUsAll and Captain401.  These startups are noteworthy because they weren’t founded by career retirement plan professionals. Instead, they were founded by Silicon Valley entrepreneurs backed by Venture Capital (VC) investors. 

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Thought Leadership

Keeping my Fingers Crossed for 401k Reform in Tonight’s SOTU Address

By: Eric Droblyen
January 20th, 2015

President Barack Obama will give his State of the Union address at 9 p.m. Eastern tonight. During this speech, he is expected to propose reforms to our private retirement plan system. If he does, it will be second year in a row the president addressed retirement plan reform. Last year, the president created the myRA, a new type of retirement account. If you read my last blog, you know I am not a fan of the myRA. This year, I hope the president will do better by announcing his support for the DOL’s proposed fiduciary rule for advisors overseeing retirement plans, now called the “conflict of interest rule for investment advice.”

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Thought Leadership

MyRAs are not the answer for expanding retirement plan coverage

By: Eric Droblyen
January 6th, 2015

  In his 2014 State of the Union address, President Obama directed the U.S. Treasury Department to create a new type of savings account for Americans. The myRA—short for “my Retirement Account”—is designed to be a starter account for workers who aren’t covered by a workplace retirement plan.

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