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I was leading a compliance workshop and someone in the back raised their hand. “What’s the number one thing that trips people up?” she asked. “Missed deadlines: Late Filings for Form 5500. Not providing your plan participants with the required annual notices. Not...

It happened during a call with Dawn, a business owner in Colorado. Her company had been growing fast—no pun intended—and she wanted to set up a 401(k) plan for her employees. Every time she tried, she hit a wall. “David, is this even possible for us?” she asked. “I’ve...

Lisa expressed concern about her employees’ low participation in the company’s 401(k) plan. “I’m just puzzled. We offer a generous match and we offered educational sessions about the plan’s benefits. I’ve done everything by the book! Why aren’t more employees taking...

Diane showed up in my office with a thick folder in hand. David, I’ve had it with our payroll company’s 401(k) plan. I thought it would be simple—just payroll and retirement—but it’s been nothing but problems.” I motioned for her to sit. “Tell me what happened.” “It...

Mark booked an appointment to discuss his concerns about securing a comfortable retirement. “David, with so much market fluctuation, I’m worried about my 401(k). Is it even possible to become a 401(k) millionaire?”​ I smiled, understanding his apprehension. “Mark,...

Eric, the CFO of a new client, came into my office. “Our company’s 401(k) plan has been under examination by the IRS for a year and a half! We hired a competent ERISA attorney, but the audit shows no signs of ending. The IRS is pushing to extend the audit into prior...

Here’s another story from the vault: Tony stormed into my office, frustration written on his face. He ran the retirement plan for his employer, and something had gone terribly wrong. I gestured for him to take a seat. “Tell me what happened.” "David, you won’t believe...

John—a client of ten years—shared his plans to switch jobs. His new position came with a significant raise, and he was excited about the new opportunity. “I’ll be earning more, but I’m not sure how it will affect my 401(k). Will my savings continue to grow at the same...

Jaime, a longtime client, came in to ask me about rolling over her 401(k) to an IRA. “David, I’ve been considering rolling over my 401(k) from my previous job into an IRA. What are the pros and cons of doing this?” “That’s a good question,” I said. “Rolling over your...