Blog

01 May

Bradford Campbell of Drinker Biddle speaks on Newly Proposed DOL Fiduciary Rule

Last week, CDM Retirement Consultants and Northwest Plan Services participated in a panel discussion event, hosted by John Hancock and featuring Bradford Campbell, Esq from the law firm of Drinker Biddle.  Brad is the former Assistant Secretary of Labor for Employee Benefits and former head of the Employee Benefits Security Administration.  He is a nationally-recognized

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12 Feb

DOL Audits – who has your back?

Recently, the DOL reported the results of its investigations during FY 2014. In short, 2,541 of the 3,928 civil investigations, or 64.7%, resulted in almost $600 million in recoveries or other corrective actions. This underscores the importance of hiring qualified experts to provide you with advice and services related to your retirement plans. The rules

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17 Nov

401(k) Investment Menu; Less is More

In the old days, some plan sponsors treated 401k investment menus like a restaurant menu. If somebody (influential) wanted a fund in the lineup it was added. The result of this in many plans were investment menus with too many funds, overlapping funds and dominated funds. Lineups like that are confusing to participants and result in poor(er) asset allocation.

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04 Nov

Navigating a DOL Plan Audit

In 2013 the Department of Labor completed 3,667 401k plan investigations. Their audits found violations in almost 75% of the cases. The result (not including 88 criminal indictments) was $1.7 billion in re-imbursments and fines – an average of $618 k per plan.

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