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Four Things to Know About ERISA Fidelity Bonds and Fiduciary Liability Insurance

Four Things to Know About ERISA Fidelity Bonds and Fiduciary Liability Insurance

Under ERISA, anyone who handles plan funds must be covered by a fidelity bond. Different from fiduciary liability insurance, an ERISA fidelity bond protects your plan from losses that may result from fraudulent or dishonest acts. This Spectrum Employer Connect episode of covers four important things you should know about fidelity bonds.
February 1, 2020 By Petros Koumantaros Employer Connect erisa bond, fidelity bond, erisa, bond, bonding, fiduciary   Comments Read More >>
Its Time to Restate Your Defined Benefit Plan Document

It’s Time to Restate Your Defined Benefit Plan Document

If your company sponsors a Defined Benefit Pension Plan, your plan document must be formally rewritten or “restated” to comply with the rules and regulations that were passed as part of the Pension Protection Act of 2006. We invite you to watch our quick video that will provide the information you need to know now, including the government deadline.
January 27, 2020 By Petros Koumantaros Employer Connect plan document, defined benefit, restate, restatement   Comments Read More >>
Encourage Greater Participation with a QACA Safe Harbor

Encourage Greater Participation with a QACA Safe Harbor

You may know that Safe Harbor contributions to your 401(k) plan allows you to bypass the annual nondiscrimination testing requirements. This, in turn, ensures you can maximize your personal contributions to the plan. One of the Safe Harbor options is called a Qualified Automatic Contribution Arrangement or QACA for short. The unique characteristics of QACA can make your plan more attractive to your employees. This can boost participation rates and put more of your people on a savings path.
January 27, 2020 By Petros Koumantaros Employer Connect qaca, safe harbor, participation   Comments Read More >>
Bull and Bear Image

Market Volatility & Participant Behavior | How Age and Income Impact Plan Participation | Socially Responsible & ESG Investing | and More

Our fourth quarter 2019 newsletter features an article on market volatility and participant behavior. Also included are articles on how age and income impact plan participation, socially responsible & ESG investing, legislative highlights, and more.
October 28, 2019 By spconsultants.com Newsletter market volatility, investing, participant behavior, socially responsible, esg, plan participation   Comments Read More >>
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Spectrum Update and Service Enhancements Q3'2019

Spectrum was overjoyed the 2019 Spectrum Open raised over $140,000 toward cancer research, treatment, and care. Avoid ERISA Health and Welfare Plan fines, penalties, and lawsuits with our ERISA Wrap SPD and Plan Document. We are delighted to announce the launch of Spectrum Platform - the Most Flexible Recordkeeping Technology + Service Solution Available to Employers, brokers/plan advisers, and TPAs.
October 14, 2019 By Petros Koumantaros Announcements erisawrap, spectrumopen, charity, welfare benefit plan, spd, wrapspd, spectrumplatform, recordkeeping   Comments Read More >>
ERISA Wrap SPD Solution

Wrap Document to Comply With ERISA Summary Plan Description (SPD) Requirement

Virtually every private sector employer offering employee benefit plans is subject to certain ERISA requirements. Any such employers must provide an SPD to paraticipants. Failing to comply can be very costly for employers. Insurance carrier documents are generally inadequate. One solution for employers is to use an ERISA Wrap Document or Wrap SPD.
August 15, 2019 By Petros Koumantaros Education erisa, wrap spd, wrap document, plan document, welfare benefits, employee benefits, healthcare, wrap   Comments Read More >>
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ERISA Workplace Retirement Plan Limits

The federal government annually publishes updated qualified retirement plan limits, which impact the contributions, benefit accruals, and compliance of ERISA covered qualified retirement plans. The below tables summarize the most significant changes in recent history.