Financial Power Of Attorney

Our guest contributor, Ling Lam, attorney at law, provides a brief overview of financial power of attorney documents you need to protect your family. 1 Please click on the title to launch the full article. One of many tools in the estate planning toolbox, a financial POA is essential in the event that an individual […]

How Plan Sponsors Can Think Like Auditors

I was recently asked about the single most important risk factor that auditors assess when preparing for an employee benefit plan audit. In almost every situation, the most important factor we look for is the “tone at the top.” The tone we look for is one that exudes a sense of ultimate responsibility for the […]

Paying Plan Expenses

This is a good time to review which expenses may be paid by plan assets. Administrative Fees may be paid by plan assets: Form 5500 preparation (including audit) Mandatory amendment fees IRS determination letters Plan testing Document maintenance fees Distributions fees Loan origination fees Settlor Fees may not be paid by plan assets: Plan establishment (document drafting) Discretionary amendment fees Plan […]

How to Hire Your Plan’s Auditor

Generally, Federal law requires employee benefit plans with 100 or more participants to have an audit as part of Form 5500.  Selection of your plan’s auditor is one of the most important duties of the plan administrator so the Department of Labor provides guidance to selecting an auditor at In addition, the American Institute of Certified Public Accountants (AICPA) provides a […]

FBi Knocking on Your Door

Fiduciary Benchmarks, Inc. (FBi) has developed the industry’s most advanced benchmarking tool that satisfies the fiduciary obligations under ERISA and proposed regulation 408(b)(2).  In addition to the benchmarking of fees, services and success measures, FBi will offer industry research based on the aggregate data gathered as part of their benchmarking business. The biographies and depth […]

What is a BrightScope Rating?

BrightScope Inc is a San Diego start up firm that launched its public website,, on January 29th, 2009 as an independent rating firm for workplace retirement plans.  The founders thought of the idea in October 2007 while watching a Monday Night Football game and discussing their own retirement plans.  Although they did not know […]