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Happy Holidays from the Frugal Fiduciary! As 2018 comes to a close, we looked back through this year’s blogs to find the most read. It turns out our most popular blogs related to the following topics:
- Plan administration – how to meet 401(k) fiduciary responsibilities and plan qualification requirements.
- 401(k) fees – How much service providers are charging and how to pay their fees.
- Employer contributions – Basics about employer contributions, including how to decide between profit sharing and matching contributions.
So, in case you missed them the first time, or just want a refresher, here are our top 10 most-read blogs of 2018.
- The 401(k) Form 5500 – Frequently Asked Questions (FAQ) - Most 401(k) plans must file a Form 5500 annually. While a 401(k) provider generally prepares the Form 5500, employers should understand their plan’s filing requirements to ensure they’re met.
- A Simple Guide for Meeting 401(k) Fiduciary Responsibilities – Employers must meet 401(k) fiduciary responsibilities to protect the interests of plan participants. These responsibilities are common sense and can be easily met with professional assistance.
- 2018 Small Business 401(k) Fee Study – What’s Too High? – Our 2018 study studied the fees for 102 401(k) plans with less than $5 million in assets. More detailed fee information for these plans – including the fees paid by their investments – can be found on our fee comparison page.
- Are Profit Sharing Contributions Right for Your 401(k) Plan? – Profit sharing contributions are the most flexible type of employer contribution a company can make to their 401(k) plan. If you’re an employer, you want to understand your company’s profit sharing contribution options.
- 401(k) Matching Contributions – What Employers Need to Know - One of most effective ways an employer can increase participation in their 401(k) plan is by matching some portion of employee salary deferrals. This is unsurprising when you consider matching contributions are like a guaranteed return on salary deferrals - or “free” money.
- 401(k) Plan Compensation – What Employers Need to Know – According to the IRS, one of the most common 401(k) mistakes by employers is allocating plan contributions participant accounts using incorrect compensation. This mistake is easily avoided with some basic education.
- 401(k) Admin Fees – The Benefits to Business Owners That Pay Them – When 401(k) administration fees are paid from a corporate bank account, business owners reduce their fiduciary liability, lower their taxes, increase plan participant returns and improve their plan’s attractiveness to employees.
- DOL Guidance for Paying 401(k) Fees from Plan Assets - The Department of Labor (DOL) divides 401(k) fees into two categories – administrative expenses that are payable from plan assets, and settlor expenses that are not. Before you pay a 401(k) fee from plan assets, you must ensure it qualifies as an administrative expense.
- 401(k) Participant Disclosures - What Employers Need to Know – 401(k) plan disclosures are meant to equip participants with the information they need to make timely and informed account decisions. However, they can also be numerous – and spread throughout the year.
- 401(k) Fidelity Bonds – Frequently Asked Questions - Certain individuals who are responsible for the administration of a 401(k) plan must be covered by a fidelity bond. The purpose of the bond is to protect 401(k) plan participants against losses caused by acts of fraud or dishonesty.
Curious to see our top 10 blogs of 2017? Check out our 2017 Top 10 list. Last year, our top topics were plan design, 401(k) fees, and 401(k) providers
Want additional retirement plan information? Check out our 401(k) Resource Center. It includes retirement plan insights and information by Employee Fiduciary experts.
I hope you find Employee Fiduciary blogs and Help Center informative. There is no reason for small business or their employees to be intimidated by 401(k) plans. Plan sponsorship and participation should be simple, safe and cost-effective. It can be with some basic, common-sense guidance.
Best wishes for 2019!
