Books by Russell McNorton
Who Is Your Named Fiduciary?
The 401(k) responsibility you didn’t know you had, and what it’s costing you.
Most employers with a 401(k) believe their providers carry the responsibility for the plan. Open the signed plan document and the name on the Named Fiduciary and Plan Administrator lines is usually the company’s.
This book shows owners, CFOs and HR directors how to find out what they actually kept, what their vendors agreed to in writing, and what the plan is paying. It gives advisors and CPAs a straightforward way to walk a client through the same questions.
If you sponsor a plan
Find out from your own documents who holds which role, where the gaps between vendors are, and whether you can explain what the plan pays.
If you advise a plan
A repeatable way to show a client where the responsibility sits and what the fees really are, using their documents and public data.
If you are the company’s CPA
The questions that surface governance problems early, without needing to practice ERISA law.
Free excerpt
Chapter Four: What your vendors haven’t agreed to do
Payroll sends the file, the recordkeeper posts it, the TPA tests it and the advisor reviews the funds. Each one does its job. This chapter is about the work that sits between them, which is usually the employer’s.
It covers deposit timing, payroll versus the plan document, required notices, the Form 5500 signature, fees paid out of participant accounts, and a case where four employees went eleven months without being told they were eligible.
Already have the book?
Request working copies of the twelve tools on the book tools page.
For advisors: coming soon
A short guide to working with an independent §3(16) fiduciary as part of your team. Get notified.
For CPAs: coming soon
Protecting your business-owner clients and catching Form 5500 problems before they cost money.
The book and excerpt are general information, not legal, tax or investment advice.
