Happy Holidays from the Frugal Fiduciary! As 2024 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:
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- SECURE 2.0 – including summaries of the provisions related to automatic enrollment, Roth matching and nonelective contributions, and new plan adoption.
- Plan administration – including summaries of the rules regarding participant disclosure, fiduciary responsibility, and plan amendments.
- Investment fees – including how much low-cost mutual funds and fiduciary-grade investment advice can reduce the drag of 401(k) fees on retirement savings.
So, in case you missed them the first time, or just want a refresher, here are our top 10 most-read blogs of 2024.
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- 401(k) Participant Disclosures - What Employers Need to Know - 401(k) plans have complicated participant disclosure rules. However, an employer’s role in meeting these requirements is basic when a qualified 401k provider is used.
- Deadlines for 401(k) Adoption – Including SECURE 2.0 Changes - The SECURE Act made it easier for businesses to adopt a new 401(k) plan or add a safe harbor feature to an existing plan by extending the deadlines to do so.
- SECURE 2.0’s Automatic Enrollment Mandate for 401(k)s – What Employers Need to Know - SECURE 2.0 requires new 401(k) plans to implement an automatic enrollment feature in 2025 unless an exception applies. Here's what employers need to know.
- 401(k) Document Retention Rules Made Simple - Meeting ERISA document retention standards can help employers defend 401(k) plan challenges. Organizing the necessary records in 3 files can make the job easy.
- A Simple Guide for Meeting 401(k) Fiduciary Responsibilities - Meeting 401(k) fiduciary responsibilities does not need to be scary or time-consuming for small business plan sponsors. Following some simple guidance is the key.
- 401(k) Amendment Rules – A Guide for Employers - The Internal Revenue Service has strict rules for amending 401(k) plan documents. To stay out of trouble, employers should understand some amendment basics.
- Roth Matching and Nonelective Contributions – What Employers Need to Know - Roth matching and nonelective contributions will be available to 401(k) plans soon. Here’s what employers need to know to decide if they are right for their plan.
- How to Replace a SIMPLE IRA with a 401(k) - SECURE 2.0 Update - SECURE 2.0 allows employers to terminate a SIMPLE IRA mid-year by replacing the plan with a safe harbor 401(k) plan. Our checklist can make the job easy.
- 401(k) Mutual Funds – Choose Low-Cost Share Classes to Maximize Returns - Discover how choosing low-cost share classes for your 401(k) plan can significantly enhance returns and fulfill your fiduciary responsibilities.
- 401(k) Advisor Fee Study: How Much Fiduciary Advice Lowers Plan Costs - Our fee study of 1,109 401(k) financial advisors shows how much fiduciary-grade investment advice can lower the total cost of a 401(k) plan vs. national averages.
Curious to see our top 10 blogs of 2023? Check out our 2023 Top 10 list. Last year, our top topics were:
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- Plan contributions – including a Roth contribution FAQ, the use of plan forfeitures, contribution deductibility, and the 402(g) limit for elective deferrals.
- Law changes – including the major provisions of SECURE 2.0 and the new plan audit rules.
- Plan establishment – including the enhanced tax credits for small businesses that start a new plan and how to replace a SIMPLE IRA with a 401(k) plan.
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 Resource 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 2025!