ADMIN Partners has talked a lot about Universal Availability (UA) and Meaningful Notice here on the blog. We have shared what UA is and how employers can ensure they meet the requirements for their retirement plan. With that in mind, we want to steer the conversation surrounding UA and expand on why it is so important. We also want to share some insight on what can happen when Plans fail to provide their employees with Meaningful Notice. Let’s ...
403B
A DYNAMIC DUO: TPA’S + FINANCIAL ADVISORS
When it comes to retirement planning, Financial Advisors and TPA firms have spent years working against each other. This was the result of Third Part Companies venturing into the world of investments leaving Advisors to feel like they had a new army of competition. While it’s true that some TPA’s have joined the ranks of selling investments to employer-sponsored retirement plans, other TPA’s, such as ADMIN Partners, have decided to take a ...
THE ONCE IN, ALWAYS IN RULE
2019 has brought a number of changes to retirement plan rules. From legislative changes made to financial hardships, to an increase in annual contribution limits, there have been changes to retirement plans impacting both Plan Sponsors and Plan Participants. Along with these changes comes a new IRS guidance regarding the eligibility provisions for 403(b) Plans. The new guidance is specific to Plans that include an elective deferral ...
2019 HARDSHIP REGULATION UPDATES
Effective January this year (2019) the regulations surrounding hardship withdrawals from retirement plans changed. These updates impact the participants of the Plans allowing the withdrawal option, as well as the Plan Sponsors maintaining contributions for their Plans. While these updates were widely published by the IRS, we wanted to breakdown the information for our clients to ensure they are up to speed. The causality loss provision (a ...
MONTHLY BOOK REVIEW: THE LATTE FACTOR
Working in the retirement industry, we often spend a lot of time talking about saving money. If you ask us, it’s something that is not talked about enough. In fact, the significance of saving money for your later years is usually overlooked. With a tough economy and high expenses, people tend find themselves focusing more on getting by each day versus planning for the years ahead. This is something that ADMIN understands and can sympathize with; ...
ADMIN’S (FREE) PLAN CONSULTATION SERVICE
We have talked before on importance of using a full-service TPA. While the term ‘full-service’ can mean different things to different TPA firms, to ADMIN it means providing a range of services that meet the needs of an organization with transparency around costs. One aspect of our services that you don’t see commonly discussed is ADMIN’s free plan consultation. ADMIN Partners does business with the understanding that not every TPA is a good ...
THE 2019 SPRING VASBO/SASBO CONFERENCE
ADMIN’s National Sales Manager, Greg Verna, recently traveled to Virginia to attend the 2019 Spring VASBO/SASBO Conference. During his time there, Greg was able to catch up with many of the school districts who currently use AMDIN Partners for their TPA services. He also took some time to interact with school officials who, while they are not currently clients, can utilize ADMIN’s services to help them with their retirement plan administration ...
PLAN SPONSOR RESPONSIBILITY – PART TWO
Over the years, our Sales Team has received a number of questions from potential clients. However, one of the most common questions they have received is ‘why use a TPA?’ This question comes from prospects of all sizes and designs, but it is especially received by smaller organizations who want a 403(b), but have a concern when it comes to costs. To respond, we often counter these prospects with a question of our own: ‘What level of ...
PLAN SPONSOR RESPONSIBILITY – PART ONE
Over the years, our Sales Team has received a number of questions from potential clients. However, one of the most common questions they have received is ‘why use a TPA?’ This question comes from prospects of all sizes and designs, but it is especially received by smaller organizations who want a 403(b), but have a concern when it comes to costs. To respond, we often counter these prospects with a question of our own: ‘What level of ...
NTSA’S ALL-NEW CRES CERTIFICATION FOR FINANCIAL ADVISORS
The National Tax-deferred Savings Association (NTSA) has recently released a new certification for Financial Advisors helping Plan Sponsors and Plan Participants within public school districts. CRES (Certified Retirement Education Specialist) qualifies Advisors who want to teach retirement education to their clients. The certification ensures both the Advisor and the District are up to date on regulatory changes within the industry and are ...
401(k) VERSUS 403(b)
For those working in the world of retirement planning, the differences between a 401(k) and a 403(b) Plan are obvious. However, there are many people outside of the financial services industry who are less aware of what each plan type means and who qualifies for these different retirement plan options. While the two plan types are similar in how they operate (for instance, both have the same contribution limits), there are some differences in the ...
ADMIN’S YEAR IN REVIEW
2018 was a year for the books for ADMIN Partners! From expanding our presence on social media to hosting seminars for some of the top Financial Advisors in the industry, we had an exciting year from start to finish. Below is a look at ADMIN’s successful 2018 and a glimpse at what is to come in the New Year! Thank you to everyone who supported us throughout 2018. We cannot wait to work through 2019 with you by our side! ...
