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Plan Sponsors Should Avoid The Dark Side of the Retirement Plan Business.
Some things to avoid.
 I grew up in New York City and the City of today isn't like it was when I grew up. They called it Fun City and not because it was fun unless you thought crime was fun. I remember going to take a Washington D.C. bus (because NYC Buses built by Grumman broke down) around Times Square and there was an adult movie theater every 100 feet or it looked that way. Like Gotham in the Batman comics, there is an ugly underbelly to New York City. Less so today, but it's there. The same can be said of the retirement plan business, there is a dark side and this article will highlight some of the bad in the business to avoid if you are a plan sponsor.
For the article, click here.
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It Takes Only One Retirement Plan Participant To Sink An Employer.
Just one to cause trouble.
 There are a couple of songs that says it takes two, but that's for love. When it comes to causing grief and heartache for retirement plan sponsor, it only takes one. The one is a plan participant who is adamant of making a complaint about the employer's retirement plan. For retirement plan sponsors who do nothing to minimize their fiduciary liability, they need to know that it only takes one participant to change everything. This article is about how it only takes one plan participant to cost a plan sponsor dearly in terms of headaches and fiduciary liability.
To read the article, please click here.
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It's a way to do it.
 The foolproof method to getting inves- tigated for tax evasion? Stop filing your taxes. The foolproof method to get hit by a car? Run into mid-town traffic. The foolproof method to get the chicken pox? Don't take the vaccine and hang out with infected children. Whatever the problem is, there is a certain foolproof method to get that problem. The same can be said about a retirement plan and the employer that sponsors it. There is a sure foolproof method for a retirement plan sponsor to get their plan and themselves in trouble, this article will let you know what that method is.
To read the article, please click here.
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How an Employer Can "Juice Up" Their 401(k) Plan At Little Or No Cost.
Improving the plan isn't so hard.
 I use the word "juice" a lot and it has nothing to do with what I drink. It comes from a Don Rickles line to Robert DeNiro in Casino as to why an incompetent slot machine manager played by Job Bob Briggs has a job there; his brother in law was a county commissioner. Juicing up also may mean using performance-enhancing drugs (PEDs). However, for the purposes of this article, when we talking about "juice", we're talking about ways that plan sponsors can improve their 401(k) plan at very little or no cost.
To read the article, please click here.
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A 401(k) Plan is a tool, it's how you use it that counts.
Just like a golf club.
 Before I had kids, I played golf. I took weekly golf lessons from a guy named Kenny. When it came to golf clubs, Kenny said that gold clubs were merely tools. It all depended on how you used them. My Callaway clubs that are collecting dust in the garage weren't going to make me break 100, what I did with them would. Clubs wouldn't make me slice in the woods, how I used them would.
A lot of blame about retirement savings is focused on 401(k) plans. 401(k) plans didn't help kill off pension plans, employers who were saving money and a change in the Internal Revenue Code limiting compensation and benefits did.
Again, like golf clubs, 401(k) plans are tools. The retirement gamble or jackpot is dependent on how plan sponsors and plan participants use their 401(k) plan.
A vigilant plan sponsor concerned about the retirement outcome of their employees and concerned about limiting their liability as plan fiduciaries are going to have a better 401(k) plan and retirement outcome than those who never benchmarked fees and haven't reviewed their fund lineup in 10 years.
A 401(k) plan is a tool, nothing more and nothing less. There is no evil in a 401(k) plan; just neglectful plan sponsors, participants, and providers that make a 401(k) plan look like a losing gamble.
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Thanks to all that supported and continued you to support this Stony Brook scholarship.
 I am pleased and honored to announce that Ian Bonnell is the winner of the 2015 Rozalia and Emil Berla Scholarship Fund.
I started The Rozalia and Emil Berla Memorial Scholarship Fund at my alma mater, Stony Brook University. This scholarship is named for the two greatest people I ever knew, my maternal grandparents who both survived the Holocaust.
Many of you in the retirement plan industry have contributed already and you have my thanks. If you can spare just a couple of bucks towards this worthwhile scholarship, I would greatly appreciate it.
$1,000 isn't much, but for a student attending such a great school, it's a substantial step in paying tuition.
You can donate online through this link. All you need to do to make sure the scholarship gets the money is to type "Berla" in the fund designation.
You can mail any contributions to
Send to Jane McArthur c/o College of Arts & Sciences, E3320 Melville Library, Stony Brook, New York 11794-3391. The Berla Scholarship should be noted on the memo line of your donation.
All gifts will be noted with a tax receipt.
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The Rosenbaum Law Firm Review, June
2015, Vol. 6 No. 6
734 Franklin Avenue, Suite 302
Garden City, New York 11530 Phone 516-594-1557 Fax 516-368-3780
Attorney Advertising. Prior results do not guarantee similar results.
Copyright 2015, The Rosenbaum Law Firm P.C. All rights reserved.
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