Retirement plan sponsors who arrange for participants to receive conflicted advice, or guidance that ends up not being in the clients’ best interest, could face potential class-action lawsuits. Unfortunately, however, many retirement plan sponsors don’t have a thorough understanding of what a fiduciary is and if their advisor is acting as a proper one to
Establishing an employee retirement plan not only helps your employees (and you) save for retirement, but may also offer favorable tax benefits. Yet, despite best intentions, plan errors can happen which can jeopardize that critical tax-favored status. Below, we’ll answer some common questions many plan sponsors have: Why do retirement plan errors happen? How can
Where is your employee benefits program headed in 2018? And do you know what benefits will be most coveted by top talent? In the coming year, competition to attract and retain skilled employees is going to require some innovative approaches and leading companies will be using flexible benefits packages as a strategic tool to enhance
Taking effect earlier this year, the Department of Labor’s Fiduciary Rule expanded the definition for financial advisors with fiduciary duty under ERISA which imposed strict regulations on their advisory relationships. As an employer, your fiduciary liability is a big deal. Here’s what employers need to know to shield themselves from litigation risks. What is the
As a business owner who sponsors a corporate retirement plan, it’s common to feel uneasy by complex administrative tasks associated with retirement plan management. These time-consuming day-to-day tasks can potentially lead to compliance errors and liability exposure. One way to reduce the risks of liability is to appoint an ERISA section 3(16) Plan Administrator who
RED BANK, NJ, November 8, 2017 – This year, Northeast Professional Planning Group, Inc. (NPPG) is excited to celebrate its 20 year anniversary. Founded in August of 1997 by Michael M. Salerno, Northeast Professional Planning Group is a specialized consultancy in Employee Benefits, Retirement Plan Actuarial and Fiduciary Services headquartered in Red Bank, New Jersey.
As open enrollment season quickly approaches, it is time to begin thinking about the best ways to engage and prepare employees for this annual opportunity. But with the Affordable Care Act (ACA), shifting demographics and ever-evolving technologies, the employee benefits landscape only continues to get more complex which makes HR administration even more time-consuming, confusing
It’s no question that business owners need more help to steer clear of liability concerns. Yet, liability can come from all aspects of running a business; and it is especially true when offering a retirement plan. With the inherent risk that exists in retirement plans, plan sponsors are open to alternative ways to reduce their
Independent ERISA 3(16) Administrative Service Red Bank, NJ—Northeast Professional Planning Group, Inc. (NPPG) a leading national employee benefits, retirement planning and actuarial consulting firm, with regional focus in NY, NJ, CT and PA has continued its expansion and growth. This growth comes in the form of increasing services offered via NPPG Fiduciary Services LLC (NPPG-FS).
Employee Benefits Insight. Two key employee benefit areas to monitor for 2017; employee education as well as employee retention and engagement strategies. New administrations bring new challenges to the professional realm, and the Trump administration is no exception. Many of the former administration’s health care initiatives are being rolled back or halted. This leaves employers