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Welcome! PrimeTRUST Advisors is a retirement plan consulting and investment advisory services firm. We seek to be the “go-to” resource you rely on for information and assistance in the retirement plans arena. As such, our website provides you with useful resources, links, news and articles relating to the many important issues of successful retirement plan management . Clients can login to retrieve their Investmtent Policy Statement, Quarterly Performance Monitoring Reports, and Investment Committee Minutes from our client archives. We hope you find this resource helpful. If you have needs, suggestions or ideas that we could incorporate to help you, please contact us.
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Radio Show Features PrimeTRUST
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Courting Disaster
Sunday, May 18, 2008
"Confusion over 401(k) plan fees is triggering lawsuits and congressional inquiries. What can plan sponsors do to head off trouble?" CFO Magazine, May 2008
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DOL Proposes Fee Disclosure Rules
Tuesday, February 26, 2008
The Department of Labor recently proposed regulations under section 408(b)(2) of the Employee Retirement Income Security Act -- ERISA's "service provider exemption" -- requiring extensive provider-to-sponsor fee disclosure. In this article posted by JP Morgan reviews the proposal in detail with a focus on defined contribution plan fees.
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Three 'Autos' Should Drive Future 401(k) Plan Participation
Monday, October 29, 2007
When it comes to retirement savings, most people start too late, don't save enough, and then fail to protect their savings through a diversified portfolio.
That is expected to start changing this year under a new law signed last August by President Bush and undergoing final rule-making by the Department of Labor. The Pension Protection Act of 2006 (PPA) contains three "automatic" provisions designed to boost participation in defined contribution pension plans, such as 401(k) plans.
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Latest News Affecting Retirement Plans
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BenefitsLink
[Guidance Overview] Proposed Regs on Consequences of Failing to Defer Receipt of Qualified Retirement Plan Distributions and Expansion of Notice Period for Certain Notices (PDF) | | 2 pages. Excerpt: "The Internal Revenue Service (IRS) has issued proposed regulations that would: expand the content of the notice required under Internal Revenue Code (Code) section 411(a)(11), dealing with the right of a participant to defer receipt of an immediately distributable benefit; extend the election period for waiving the Qualified Joint and Survivor Annuity (QJSA) under Code section 417 from 90 days to 180 days; and extend the period for distribution of the notices required under Code sections 402(f), dealing with rollover eligibility and tax treatment of distributions, 411(a)(11) and 417 from 90 days to 180 days." (authored by Transamerica Center for Retirement Studies) | | 11/20/2008 3:00:44 AM |
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BenefitsLink
Recession May Jeopardize 401(k) Contributions | | Excerpt: "Frontier Airlines suspended its 401(k) match on June 1 as part of a wider effort to cut costs as it works its way through Chapter 11 bankruptcy protection. The airline's plan matched 50 percent of employee contributions, up to 10 percent of salaries. The company reported that the match cost it $4.2 million in 2006. 'This is a recession-type of response. These employers are really up against it and they have to decide to cut somewhere and this seems like the least bad place for them to cut,' said Alicia H. Munnell, director of the Center for Retirement Research at Boston College." (authored by The Associated Press via Google) | | 11/20/2008 3:00:44 AM |
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BenefitsLink
[Guidance Overview] Year-End Checklist for Tax-Qualified Retirement Plans (PDF) | | 5 pages. Excerpt: "The following checklist describes potential year-end amendments and notices that may be necessary for tax-qualified retirement and savings plans. This list is not exhaustive, but is intended to provide a reminder of the general issues that may need to be reviewed and considered." (authored by Morgan, Lewis & Bockius LLP) | | 11/20/2008 3:00:44 AM |
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BenefitsLink
[Guidance Overview] Court Bars ESOP-Owned Company from Advancing Defense Costs of Officers Accused of ERISA Fiduciary Breach (PDF) | | At page 6 of 9 pages. Excerpt: "In Johnson v. Couturier, 2008 WL 4443085 (E.D. Cal. Sept. 26, 2008), a district court issued an injunction barring an employee stock ownership plan (ESOP)-owned company from advancing the costs of defense under the corporate officers' indemnification agreements with the company. The lawsuit alleged that the corporate officers had breached their ERISA fiduciary duties by engaging in a 'scheme to defraud' the ESOP-owned company by paying themselves grossly excessive compensation. The court found that plaintiffs had shown a substantial likelihood of success on this claim." (authored by Proskauer Rose LLP) | | 11/20/2008 3:00:44 AM |
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BenefitsLink
[Guidance Overview] IRS Implements Enrolled Retirement Plan Agent Program | | Excerpt: "EBIA Comment: When the IRS revised Circular 230 to authorize ERPAs to practice before the IRS, it recognized the increasing role that TPAs, benefits consultants, and similar service providers who are not attorneys, CPAs, enrolled actuaries, or enrolled agents have come to play in drafting and administering tax-qualified retirement plans. But note that, although ERPAs are now authorized to practice before the IRS, the scope of their practice is limited." (authored by Employee Benefits Institute of America) | | 11/20/2008 3:00:44 AM |
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