How Saratoga Hospital Reduced Their Retirement Plan Expenses

When it comes to reducing retirement plan expenses, there is no time to waste!

Saratoga Hospital wanted to quickly establish a solid fiduciary process. Read about Saratoga Hospital’s challenges with its retirement plan, and how Strategic Benefit Services was able to reduce its retirement plan expenses and ensure it is in compliance with ERISA regulations.

If you have any questions or would like to speak with an advisor about reviewing or establishing a plan, please contact us at (855) 882-9177 or via e-mail at sbs@hanys.org.

IRS Releases Retirement Plan Contribution Limits for 2015

The Internal Revenue Service (IRS) has recently released the contribution limits on Qualified Retirement Plans for 2015. Strategic Benefit Services created the attached chart that details these contribution limit increases.

If you have any questions about the COLA Limits, or would like to speak with an advisor about reviewing or establishing a plan, please contact us at (855) 882-9177 or via e-mail at sbs@hanys.org.

VIDEO: SBS Reveals Inspiration Behind Advisory Services

Strategic Benefit Services (SBS), has challenged ourselves to take an introspective look at not only what we do, but why we do it. Many retirement advisory firms offer similar services, so we developed a new video to demonstrate how our approach to advisory services distinguishes us from other retirement advisory firms.

The Search is On – What Plan Fiduciaries Need to Know to Locate Missing Participants

The Department of Labor (DOL) recently released Field Assistance Bulletin (FAB) 2014-01 entitled “Fiduciary Duties and Missing Participants in Terminated Defined Contribution Plans.” The FAB outlines the steps that plan fiduciaries must follow to meet their obligations under ERISA to locate missing participants and properly distribute participant account balances when a defined contribution plan has been terminated.

Automatic Features in Defined Contribution Plans

According to the 2014 Retirement Plan Survey conducted by Strategic Benefit Services, approximately one-half of the responding retirement plan sponsors offer automatic enrollment. Offered in conjunction with automatic escalation, such features can positively impact participant behavior and improve retirement readiness. This article examines some best practices to be considered when implementing automatic features in defined contribution plans that can produce greater results per dollar of employer cost.

Survey Reveals High Level of Uncertainty Among Plan Administrators

Strategic Benefit Services’ 2014 Retirement Plan Survey uncovers significant uncertainty among employers about retirement plan administration.

The survey—which sought to identify significant trends in retirement plan services—found: Nearly 80% of respondents said they were unsure if their plan advisor was acting in a fiduciary capacity; 17% percent of respondents were unsure how their advisors were compensated; and one quarter said they were unsure how

Investment Policy Statements

An investment policy statement (IPS) defines the processes that a company has adopted to make investment-related decisions with respect to the assets of a ERISA 403(b) and 401(k) plan. The IPS identifies the investment goals and objectives of the plan, establishes how decisions will be made regarding the selection of investments and specifies the procedures for measuring investment performance. While the law does not require that a plan adopt an IPS, it may be the single most important task that a fiduciary performs for the following reasons: