Products January 29, 2009

Principal Toolkit Aids with Disclosures

The Principal Financial Group has unveiled new tools to help plans comply with new disclosure mandates for the Form 5500 and new requirements for retirement plan financial statements (FAS No. 157).
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A Principal news release said the materials include help for 403(b) sponsors who now have to file a Form 5500.

The new offerings include:

  • A white paper, “The Road to Transparency: Form 5500 Annual Reporting, 403(b) Plans and Fair Value Measurements (FAS 157).”
  • A Form 5500 Quick Reference Guide.
  • A review of “Value and Reporting of Retirement Plan Assets—FAS No. 157.”
  • A fiduciary handbook: “Understanding and Managing Fiduciary Responsibility.”

“These are sweeping changes in retirement plan reporting. For the first time, plan sponsors will have to formally document information they haven’t had to set in writing before,” said Aaron Friedman, national non-profit practice leader for The Principal, in the announcement. “That will be no small task. Our new tools will help them collect and file the information they need and understand how to report it when the time comes.”

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Products January 29, 2009

New Firm Offers 401(k) Education

A new firm has formed with the goal of educating employees about their 401(k) retirement plans.
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According to a press release, the 401KTrainers.com team is composed of investment advisers who not only offer training, but also are licensed financial advisers who can provide the information and education necessary for employees to make educated decision about their investments. “Our goal is to educate employees about their plans so they can navigate their investments and reach desired goals,” said Emile De Boyrie, company founder, president and CEO, in a press release.

The team reviews an organization’s current 401(k) plan and investment options and prepares a 45-minute training session for employees. The training covers financial market updates, investment choices available in the company’s 401(k) plan, and general education about asset allocation.

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Training sessions are held at times and locations requested by the employer and are currently available in English, Spanish, and Portuguese. The education will be available in Creole soon.

For more information about Coral Gables, Florida-based 401K Trainers, visit

For more information about Coral Gables, Florida-based 401K Trainers, visit www.401KTrainers.com or call 305.443.1705.

 

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