Retirement Plan Advisor Search, LLC

We are excited about a couple of days in Chicago, assisting an incredible client in selecting their retirement plan 3(38) Investment Advisor and Recordkeeper! We have two days of presentations from the 3(38) Investment Advisor and Recordkeeper finalists. Veronica McPherson Bray

Happy Thanksgiving! May your Thanksgiving be filled with warmth, good food, and even better company. We are grateful for our clients and partners!🙏🏻Veronica McPherson Bray

Year end tips for retirement plan sponsors. What else would you add? Veronica McPherson Bray

Force Out Small Accounts
Review your plan for small account balances and process force-outs before December 31. This can help keep your participant count below 100, potentially avoiding an audit requirement, and will also reduce administrative fees.

Address Regulatory Uncertainty
If you have questions or concerns about regulatory changes, now is the time to schedule meetings with your TPA or plan advisor to clarify any confusion and ensure your plan remains compliant.

Plan Amendments for 2026
Considering changes or amendments for the upcoming year? Make sure all necessary approvals are secured and amendments are in place before January 1, 2026.

Update Plan Committee Minutes
Ensure your plan committee meeting minutes are up to date for 2025. Accurate records are essential for compliance and future reference.

Pre-Emptive Compliance Testing
If your plan has failed compliance testing in previous years, ask your TPA to run a projection for 2025. Early detection of potential issues allows you to take corrective action before year-end.

Boost Participation for 2026
Plan ahead by scheduling employee education sessions on 401(k) contributions, employer contributions, and related topics to encourage greater participation in the new year.

Utilize Forfeitures
Review your plan’s forfeiture account and ensure any balances are used in accordance with your plan document before year-end.

Catch-Up Contributions
Confirm your plan allows after-tax Roth contributions. Starting January 1, 2026, employees aged 50+ earning over $145,000 must make catch-up contributions on a Roth basis.

Benchmark Service Provider Fees
If it has been several years since your last fee check or benchmarking exercise for plan service providers, conduct one before the end of the year to ensure your plan remains cost-effective.