When an employee unexpectedly leaves his or her position, whether because of a company decision or on his or her own accord, it can put the company in an extremely difficult position. In today’s post, we’re discussing ways to gracefully handle an employee leaving the company. We’ll explore the proper legal etiquette, benefits, and procedures…
AM I A PLAN FIDUCIARY? If you exercise control and decision-making power over the organizations retirement benefits and plan, then you are most likely a plan fiduciary. Most who are fiduciaries may not have this title within the company or organization. Regardless of the title you hold, fiduciary status is based on the functions that…
Once a staple of the American workforce, benefit Plans – more commonly referred to as pension plans – are quickly becoming the lesser known and least utilized retirement fund. In comparison to more popular retirement funds like 401(k) plans and IRA’s, the benefit plan is lagging behind. In large part the decline of benefit plans…
Which One Business Structure is Best For Your Company? The freedom to manage one’s own time, commitments, and work projects, make escaping the 9-to-5 to be a small business owner the dream of many. Along with the liberation, however, comes a myriad of responsibilities; especially when it comes to deciding how to initially structure your…
When companies consider offering a retirement savings plan to employees, the most common selected is the 401(k) retirement plan. This type of savings account is the most typical form of an employer-sponsored plan and is one that most people are familiar. In today’s blog post, we’re examining the fee structures surrounding 401(k) plans and best…
You might be surprised to learn that in 2015, the average retirement plan Department of Labor (DOL) audited fine was $424,000. Whereas, the average medical malpractice settlement is $425,000. While both are astronomical and business crippling, thankfully, with the right policies and procedures, we understand that there are ways to reduce the risk. We are going…