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Join the Campaign to Save the 401(k)

As pressure to reduce the Nation’s debt continues to grow, proposals to limit U.S. tax breaks for retirement savings are currently under consideration. Among these is a 28% cap on retirement savings-related deductions. Unfortunately, this tax change would likely discourage many employers from sponsoring a company retirement plan. As a response to this, ASPPA (American [...]

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Exciting Announcements from Praxis!

PLANSPONSOR magazine recently announced finalists for the 2013 Retirement Plan Adviser of the Year award. Mark D. Ray was nominated from among 400 peers including retirement plan advisers, plan sponsors, attorneys and administrators. The finalists were recognized at a dinner on March 27, 2013 in New York City, and the winner will be announced at [...]

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Making a List and Checking It Twice

During the holiday season we always seem to be reviewing lists: gift lists, grocery lists, and even New Year’s resolutions. These lists help to make overwhelming tasks easier to complete, and they help us keep track of our progress. While you have certainly been writing out your own lists at home, we would like to [...]

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Our funds score well, isn’t that enough?

You know the drill. It’s time for the quarterly investment committee meeting. One of the main topics on the agenda is an update on the investment choices offered to participants. Your consultant used a “data-based” program to complete their investment review process and handed you a quarterly report with colors and scores that indicate the funds are doing well. Should you accept these scores and call it a day, or should you ask for additional information?

One of the most important plan sponsor duties is to oversee the fund choices offered to participants, and to ensure they are meeting the highest possible standard. When you hire a consultant, a critical aspect to consider is whether you understand and agree with their investment review process.

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Top 100 Advisers Award Announced!

We are pleased to announce that Mark Ray and Praxis Consulting have been nationally recognized as one of PLANADVISER’s Top 100 Advisers!

PLANADVISER recently released their Top 100 advisers and adviser teams for 2012. Each adviser and adviser team received this award based on a series of quantitative measures such as assets under management, plan participation, deferral rates, quality of service and investment management success.

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401(k) Tips & Best Practices for HR Professionals

I admire and respect the dedication HR professionals have to their employer and employees. They strive for excellence when it comes to managing a myriad of employee benefits, not to mention the complexities of a 401(k) plan. They’re also deeply committed to helping their employer avoid IRS/DOL penalties and employee lawsuits by keeping the retirement plan in compliance.

Now is a good time to review the retirement plan records to ensure everything is in order. Listed below are tips and best practices to keep your workplace savings plan in compliance. This is not an exhaustive list; however, it covers the major areas of 401(k) plan compliance.

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