Articles

• Group Practice Retirement Plans: Fix Problems, Improve Your Plan, Minimize Cost

  Even though group practice retirement plans typically have a relatively small number of participants, these plans can be more complex and laden with compliance issues and challenges. Older group practice plans often have serious compliance and fiduciary issues, and unless someone knowledgeable takes the time to examine the plan operation and paperwork, chances are that these issues would only be discovered upon an audit by the Internal Revenue Service or U.S. Department of Labor – in other words, much too late. Read on

• How To Reduce Your Practice Retirement Plan Cost

  It is well-known that the majority of retirement plan providers that serve the small and mid-sized retirement plans are bundled platforms that make most of their money via asset-based fees. Many plan providers do not offer the best available solutions to small solo and group practice plans, and this often means sub-par plan design and lack of any fiduciary or compliance services, which leads to higher plan cost and can potentially result in unnecessary expenses later on. Even those providers who are open-architecture tend to charge significantly higher fees for small solo and group practice plans relative to what the larger plans pay for the same services. However, it is definitely possible to get the best available plan services at a lower cost. Read on