Welcome to the Advisor Services section of our site.

Using RMDs To Fund Charitable Contributions

Taxpayers who may no longer be itemizing their personal tax deductions after 2017 may wish to make charitable contributions using their RMDs.

We are reprinting below an article from The Wagner Law Group explaining these new rules – they are complicated.

This may be a way to, in effect, recoup these lost deductions.

NYU Litigation Shows Best Practices To Win ERISA Lawsuit

New York University recently prevailed in the lawsuit filed against it relating to its management of its 403(b) plan. [403(b) plans are similar to 401(k) plans but sponsored by tax-exempt organizations. The same principles apply however.]

We are reprinting below an article by attorney Arthur Marrapese emphasizing the importance of fiduciary awareness and engagement and the careful adherence to a prudent process for evaluating fees and investment options.

We recommend all financial advisors working with qualified retirement plans to download the article

For years all kinds of ideas have been floated about annualizing a portion of Americans’ 401(k) accounts. We formerly devoted a tab on our website to this topic but it generated little traffic so we deleted it.

However, we are reprinting below an interesting article about a start-up called Blueprint Income with a new twist on this idea.

You can obtain the following information and services from this section:

  • Request a proposal for designing or redesigning a retirement plan.
  • Link directly to the websites of some of the mutual fund and insurance company 401(k) investment platforms used by our clients.

You can also send us an e-mail to request enhancements and improvements to the Advisors Section.

Labor Dept Fiduciary regulation may be dead but enter the SEC.

A court of appeals has overturned the Labor Dept’s fiduciary regulation and at this point, it appears the regulation may be dead.

However, the SEC wants to fill the void with its own set of rules. See our article below with a summary of what the SEC wants to do.

Plan Sponsor 2018 Survey of Micro Plans

Plan Sponsor magazine is a publication servicing the retirement plan industry. We are reprinting below their 2018 survey of defined contribution plans with under $5 million in assets – the micro plan market.

Many financial advisors are leaving the retirement plan market in response to the Labor Dept’s fiduciary rule. For those advisors with the experience and expertise, and the commitment, to service this industry, there are great opportunities.

If you would like to see how our firms can assist with developing and servicing this industry, please give Lee T. Jennings in our office a call (630) 802-7644..

Fiduciary Checklist

We are posting a sample fiduciary checklist prepared by T. Rowe Price.

Like all of these kinds of documents, it is just a starting point and should not just be printed and “thrown in the file.” Like investment policy statements downloaded from the internet, the worst thing somebody can do is adopt something and then not follow it.

If you would like to discuss this further, call Lee T. Jennings at (630) 802-7644.

Illinois Secure Choice Savings Program

We have written regularly in our newsletter, the dana report, about this state-mandated retirement program that Illinois employers will need to offer to their employees if the employer does not already offer a retirement plan.

Originally expected to become effective in 2017, the state has delayed the program now to 2018. See our firm memo below about this new Illinois mandate.

Message and Suggestions

This website is intended to be a resource to our advisor partners. We invite our partners to give us suggestions on ways to improve the functionality of the website and information you need access to.

If you need immediate assistance with a retirement plan matter, please feel free to e-mail us here or call Lee T. Jennings at 630-802-7644 (cell).

If you e-mail us, please enter “Dana Consulting Group, Ltd.” in the Subject line of your e-mail.

Ask how we can assist you.

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