INSIGHTS – Comperio Retirement Consulting, Inc.

2024 Pension Plan Limits

November 1, 2023

On November 1, 2023, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2024. The Internal Revenue Code requires that the Secretary of the Treasury adjust the limits annually. Some highlights are: The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan will increase to $23,000. The catch-up contribution limit for those aged 50 and over…

Navigating Conflicts of Interest in Investment Advisory Services

September 8, 2023

Comperio Retirement Consulting

Fees, General, Retirement Plan Committee

Introduction In the realm of investment advisory services, the presence of conflicts of interest can pose significant challenges. One such scenario arises when an investment advisor offers an Individual Retirement Account (IRA) to a participant within a retirement plan they also advise for the plan sponsor. This white paper delves into the complexities of this situation and sheds light on the pivotal issues at play. The Conflict of Interest At the core of this dilemma is a conflict of interest…

Are you benchmarking your recordkeeping fees?

April 26, 2023

Comperio Retirement Consulting

Fees, General, Retirement Plan Committee

Are you benchmarking your recordkeeping fees? If not, you could be missing out on an important opportunity to improve your plan and better serve your participants. Benchmarking your recordkeeping fees involves comparing your plan’s fees to those of similar plans in your industry, with similar plan sizes and features. This allows you to determine whether your fees are reasonable and competitive, and identify potential areas for improvement. By benchmarking your recordkeeping fees, you can: – Ensure that you are paying…

2023 Pension Plan Limits

October 21, 2022

Comperio Retirement Consulting

IRS Limits

On October 21, 2022, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2023. The Internal Revenue Code requires that the Secretary of the Treasury adjust the limits annually. Some highlights are: The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan will increase to $22,500. The catch-up contribution limit for those aged 50 and over…

2022 Pension Plan Limits

November 4, 2021

Comperio Retirement Consulting

IRS Limits

On November 4, 2021, the IRS announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2022. The Internal Revenue Code requires that the Secretary of the Treasury adjust the limits annually. Some highlights are: The elective deferral (contribution) limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan will increase to $20,500. The catch-up contribution limit for those aged 50 and over…

Do you find your 401(k) plan fee’s confusing?

April 28, 2021

Comperio Retirement Consulting

Fees, Retirement Plan Committee

Managing Your 401(k) Fees Retirement plans commonly include funds that engage in revenue sharing, which is crediting a portion of the fund expense ratio paid by participants back to the plan. Using revenue sharing to pay all or a portion of plan administrative expenses is an acceptable practice. On the surface, this practice does not seem unfair, but unfortunately, using revenue sharing to pay plan expenses can fall far short of fair. Let’s take a look at why. Most 401(k)…

OCIO Services – DISCONNECT BETWEEN TOP PLAN SPONSOR GOALS AND OCIO PROVIDER GOALS!

February 24, 2021

Comperio Retirement Consulting

Investments, Retirement Plan Committee

There is considerable confusion on exactly what OCIO services mean. Simply put, the primary difference in OCIO versus traditional consulting services is who owns final discretion for the selection of managers/funds and the execution of investment decisions. According to the PGIM survey, the top objective for plan sponsors is very different than OCIO service provider goals. All Plan Sponsors considering the benefits of implementing this type of service should begin by identifying internal goals and priorities before conducting due diligence…

OCIO/ERISA 3(38) Arrangements Increase

February 16, 2021

Comperio Retirement Consulting

Investments, Retirement Plan Committee

Why bring attention to a service 64% of Plan Sponsors have not evaluated yet? As the Great One said, Wayne Gretzky, “I skate to where the puck is going, not where it has been.” Projections are that OCIO assets will rise from $1.1 Trillion to $1.7 Trillion in the next 3 years according to Cerulli Associates. Plan Sponsors are being approached by their current advisors/ consultants or new consultant touting the OCIO or ERISA 3(38). The OCIO/ERISA 3(38) term means…

ERISA Litigation Update

February 4, 2021

Comperio Retirement Consulting

Litigation