What is a Fiduciary?

A plan’s fiduciary (or fiduciaries) has a very important role. They must always put the plan’s interest first and must always act for the benefit of the plan. They must provide benefits to participants (and beneficiaries) and also try to keep plan costs down. ERISA defines a fiduciary as someone: Who exercises discretionary control or […]

What is ERISA?

It’s likely that at some point you have come across the term ERISA – probably while participating in a retirement plan or setting one up for your own small business. So what is ERISA? ERISA stands for the Employee Retirement Income Security Act of 1974. ERISA established guidelines and minimum standards for private-sector pension and […]

Matching contributions

I started reading a paper, found here, because a blurb made it sound interesting and touched on some pet peeves of mine.  The “interesting” part, not so much; it is filled with text such as this: Retirement plans emerge in equilibrium, however, if instead workers suffer from some degree of present bias or myopia, which […]