We find that Plan Sponsors are primarily concerned with 3 main topics:
The 401(k), together with other versions of company sponsored retirement plans, have evolved into a key employee recruiting and retention tool. Retirement plans of this variety have become central to employee benefits packages, yet are widely misunderstood by company staff charged with offering and administering these plans, and employees who often struggle to take full advantage of their retirement plan benefits.
These types of plans are regulated according to ERISA (Employee Retirement Income Security Act), and are the focus of two governmental agencies, and sadly the legal community as well. The number of 401k/403b lawsuits has increased 4-fold in the last 2 years, with signs of escalating. Larger company plans have mostly been targeted so far, but smaller plans are certain to join. Not only will companies, found to be deficient in administering plans, suffer damages, but the people considered fiduciaries will be held personally liable.
Working in cooperation – Proincome and MillenniuM Investment & Retirement Advisors, LLC – we approach our service objectives with relevant and current facts. Our goal is to raise awareness among plan fiduciaries of the potential liabilities of mistakes in plan implementation and administration, and how to enhance plan performance for the benefit of employees and the company.
Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. BCM and ProIncome are independent of each other. Insurance products and services are not offered through BCM but are offered and sold through individually licensed and appointed agents. The content of this website is provided for informational purposes only and is not a solicitation or recommendation of any investment strategy. Investments and/or investment strategies involve risk including the possible loss of principal. There is no assurance that any investment strategy will achieve its objectives.
ProIncome operates www.proincomeplan.com, which is a retirement and financial information website.
This is to inform website visitors regarding our policies with the collection, use, and disclosure of personal information if anyone decides to use our services.
If you choose to use our services, you agree to the collection and use of information in relation to this policy. The personal information we collect is used for providing and improving our services. We will not use or share your information with anyone except as described in this policy.
What information do we collect from you and about you?
To serve our client needs, ProIncome collects information to satisfy certain legal and regulatory requirements, while other information is collected so that we can service your account effectively. Examples of the information that we collect includes:
• Information from your account application and other forms, such as name, address, Social Security number, telephone number, employment information, income, net worth, investment experience, and other information to service your account effectively. We may also collect information from consumer reporting agencies.
• Information about your financial transactions, including securities purchased and sold, fund transfers, account balances, and other account activities.
To whom do we disclose your information?
ProIncome does not sell your personal financial information to anyone. However, we do disclose your personal information to third parties or outside companies that help us process your transactions or service your account. One such company is the clearing firm which processes your transactions and acts as the account custodian. We may also provide information to outside service providers that help administer your accounts. Any outside company or third party provider must limit their use of your information to the purpose for which it was provided.
ProIncome may also provide your personal information when permitted or required by law or regulation. Examples include providing information in response to a subpoena or court order, to cooperate with regulators, governmental authorities or law enforcement authorities, or in response to a request from a consumer reporting agency.
Outside of these circumstances, we will not provide your personal information to third parties unless you have specifically asked us to do so.
What do we do to protect your personal information?
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