Need To Know

TSC’s 50th Anniversary

TSC recently celebrated 50 years of building successful retirement plans. Since Ted Giannobile founded TSC in 1966, our focus has been to provide expert retirement plan administration services. TSC has now grown to be one of the largest and most respected retirement plan consulting firms in the country. Read more…

Fiduciary Focus: Proposed Fiduciary Investment Advice Rules

Fiduciary, a term that is rarely used in everyday conversation, has been garnering a lot of attention in Washington, D.C. as of late. While fiduciary status has long been an important issue to retirement plan sponsors and service providers, with all three branches of government weighing in on fiduciary issues, now is a good time to take a fresh look at this topic. Read more…

Millennials and Measuring the 401(k) Plan

There is good news to report on savings and our future. Time Inc.’s “Why Millennials are Flocking to 401(k)s in Record Numbers” article states that the number of millennials enrolling for the first time in 401(k) plans jumped 55 percent in the first half of 2014. Read more…

Update to Annual 404a-5 Participant Disclosure Requirements

Since 2012, the Department of Labor has required that employers sponsoring employee-directed retirement plans provide participants with disclosures containing detailed information about the plan and its investments. These disclosures must be provided to participants before they can first direct their accounts and then on an annual basis after that. Read more…

What Should be Done with a Loan When a Participant Terminates Employment?

When a participant requests a retirement plan loan, they receive a sum of money from their retirement plan balance – tax free. However, in order to shelter these dollars from taxation, they must repay these funds by the maturity date (generally five years from the date of the loan). Read more…

Fiscal Cliff Legislation Expands In-Plan Roth Conversions

The deal struck in late 2012 to avoid the so-called “fiscal cliff” (the American Taxpayer Relief Act of 2012) included a provision that expands the options for in-plan Roth conversions by introducing the concept of in-plan Roth transfers.   Previously, the only type of Roth conversions available within a plan were Roth rollovers.  Read more…

Hurricane Sandy Relief for Retirement Plan Participants

The Internal Revenue Service has announced that 401(k)-type retirement plans can make loans and hardship distributions to victims of Hurricane Sandy and members of their families under a more liberalized process.
This relief means that retirement plans can allow Hurricane Sandy victims to take a hardship distribution or borrow up to the specified statutory limits from the victim’s retirement plan. Read more…

Update: The Final DOL Disclosure Initiatives

The U.S. Department of Labor (DOL), the agency charged with regulating private retirement plans, has recently increased its focus on creating more transparency and consistency around the operation and arrangements of private retirement plans.  In an effort to meet that goal, the DOL has launched several distinct disclosure initiatives.   Read more…