Tag: ron a. rhoades
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Fiduciary Papers #9: 401(k), Non-Governmental 403(b) Plan Sponsors: Risks from Class Action Claims for Unreasonable Fees
THE IMPACT OF HUGHES V. NORTHWESTERN In early 2022, the U.S. Supreme Court considered a class action lawsuit that was brought against Northwestern University’s retirement plan, which was subject to ERISA’s requirements. The U.S. Supreme Court’s decision addressed the threshold for plaintiffs to get past the “Motion to Dismiss” stage of such litigation when the…
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Ten (TOUGH) Questions You Should Be Asking Your Financial Advisor
HERE IS A DOCUMENT THAT YOU CAN PROVIDE TO YOUR CURRENT, OR PROSPECTIVE, FINANCIAL ADVISOR, TO SEE WRITTEN ANSWERS TO THE TOUGH 10 QUESTIONS. FOLLOWING IS THE TEXT FROM THE FILE, ABOVE, FOR THOSE WHO PREFER TO READ IN THIS MANNER. 10 Tough Questions You Should Ask Any Financial Advisor By Ron A. Rhoades,…
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Computing RMD Amounts
Your required minimum distribution is generally computed for you each year by the bank or brokerage firm holding your traditional IRA account, or by the plan administrator of a traditional 401(k) or 403(b) account. This assumes the “uniform lifetime table” is applied. Generally, your prior year 12/31 balance is divided by a “life expectancy” number…