The RPAG Scoop | April 2025

Welcome to the RPAG Scoop where we are giving you an investigative look into the retirement industry through the RPAG looking glass. In the April edition of The RPAG Scoop, we have exciting releases, upcoming events, DOL updates, and answers to frequently asked questions!

Quick Announcements (0:37)
Ashley Passow, host of the RPAG Scoop and Senior Marketing Specialist for RPAG, started out with a few quick announcements that members should know about for April. First, Q1 Scores will be released on April 15. If a plan is linked to PAL, fund balances will appear by the 20th. For direct data users, fund balances will appear by the end of the month. Stable Value fund data will be available 30 - 45 days after quarter-end, while GIC fund data will be available 45 - 60 days after quarter-end. 

We are hosting an upcoming digital session all about Plan Asset Links with our Systems Data Manager, Kristy Smith on April 23 at 10 a.m. PT, so check your email and the webinar page for the registration link. In addition to upcoming digital sessions, we have past sessions, including a throwback to our 2020 National Conference, available on our YouTube channel. Subscribe here! 

New Partnerships and Upcoming Events (3:23)
Melody Ravanipour, Digital Marketing Specialist at RPAG, is excited to announce the launch of a new RPAG member benefit – the Retirement Technology Partnership Program! The Retirement Technology Partnership Program connects you with forward-thinking asset managers committed to your growth through innovation, support, and exclusive strategies. One critical benefit of the program is expansion of exclusive, discounted CIT Strategies.

And we’re proud to launch the first exclusive share class under the Retirement Technology Partnership Program - available now a CIT, sub-advised by Victory Capital Management, Inc. and trusteed by Great Gray Trust Company. 
This Retirement Technology Partnership Program delivers on three key pillars, collaborative retirement innovations, aligned support, and exclusive strategies.

It’s not just about the products, it's about partnership. With this program you’ll have the opportunity to work with asset managers who understand how your business runs, and how to make it grow. With joint wholesaler training, aligned messaging, in-person workshops, and our annual RPAG Conference, we’re fostering better collaboration that translates into better service to your clients.

As Melody mentions, you’ll have access to exclusive retirement-focused strategies through dedicated share classes available only through RPAG. That means more ways to help your clients reduce fees, without ever compromising on performance or innovation. And yes – flexPATH sub-advised CITs are still a part of your toolkit in the RPAG platform. 

If you are attending the NAPA 401(k) Summit, make sure to stop by our booths! RPAG will be at booth #215 and Great Gray will have booths #413 and #414 with one of their booths being a golf simulator with a giveaway! So go make sure to give it your best swing! We will also be having office hours at both booths! Jesse Taylor, RPAG’s Sr. Vice President of Business Development, and Luke Vandermillen Jr., Director of Business Development, are running ROI profitability reviews and Martin Graham our Sr. Marketing Manager will host 'digital marketing' office hours. You can also meet with Da’Ron Jennings, one of our ASAs to watch a demonstration and ask any portal questions you may have. Keep an eye out on your emails because there will be time to book 15-minute-long office hour sessions. Remember to join Jesse Taylor for a forward-thinking discussion on the future of retirement planning and how advisors can stay ahead. His sessions will be occurring April 30th at 9:15 a.m. and the day before, join Dan Dal Degan, board member of the parent company of RPAG, on April 29th at 9:40 AM for an expert discussion on simplifying plan menus for better participant outcomes.

VFCP Self Correction is Here (8:37)
Jenny Kiffmeyer, our ERISA expert, is on our Scoop this month to talk about the new ability to self-correct under the voluntary fiduciary correction program with the Department of Labor. This is a brand-new, no muss, no fuss correctional program. To be eligible to use the self-correction program, neither the plan nor the plan sponsor can be "under investigation" by the DOL. They must also meet EPCRS's definition of "eligible inadvertent failure" and not involve egregious errors, asset misuse, or tax avoidance schemes. A plan sponsor can self-correct two of the most common plan errors related to late deferral deposits and loan repayments as well as eligible inadvertent participant loan failures. There are multiple eligible late deposit errors that can be corrected by the plan sponsor. These include:

• The lost earnings owed on the late deposits are $1000 or less
• The delinquent payments (and earnings) are deposited within 180 days from the date of withholding
• The plan sponsor pays all penalties, late fees, and other charges
• The plan sponsor files online the self-correction notice with the DOL

In respect to the late deferrals, we also have to include lost earnings as part of the corrections. Calculate the lost earnings on the delinquent payment, using the DOL's online calculator, from the date the amount was withheld to the date it is deposited into the participant's account.

There are four types of loan failures that can contribute toward the correction process. These include:

• Non-compliance with the amount, duration, or level of amortization of the loan
• Loans that default due to a failure to withhold from a participant's wages
• Failure to obtain spousal consent for a loan
• Loans in excess of the number permitted

The three steps that you can take to file for self-correction are to first make all necessary corrections according to the new guidance; loan errors would follow EPCRS. Next would be to submit a self-correction component notice online to the DOL (EBSA) and other required documentation. Finally, keep all records, including the retention record checklist and a penalty of perjury statement.

Once the correction is submitted and the DOL approves it, you will receive an email acknowledgment, and it is very important to keep that email in the plan records. All late deposits must be disclosed on Form 5500. For more details on this process, click here.

Get On the Fast Track to Success with the RPAG Miniseries (16:05)

Melody Ravanipour came back onto our Scoop to remind everyone that the Road to Success Miniseries is now available on YouTube and our "Webinars" page of our website. This is a 4-part miniseries that includes sessions that discuss an overview of the RPAG platform, our Scorecard, our benchmarking suite, as well as a guide to social media. In the Guide to RPAG session, RPAG members can follow along in their own accounts as we give you an easy roadmap to the RPAG portal. This is great for new employees as well as seasoned users that just need a refresher of the portal. The Scorecard Diagnostics session explains the strategies behind our Scorecard and the comparisons between the different fund comparisons. Learn how to compare fees, assess plan providers, and showcase the value you bring to your clients with clear, data-driven reports in our Benchmark Pit Stop Session. Lastly, get on the Social Media Highway and shift your online presence into gear.

Fees Vs. Expanded Fees (18:53)
As an Advisor Service Associate, Alexis Patenaude, gets questions and hosts educational meetings with RPAG members every day. This month, one of her highly asked questions was, "What's the difference between fees and expanded fees?" When you access a client's plan page, you'll be presented with all of their plan's information, including their fees, which is located within the 5 cards. When you click on the fees card, you will see two tabs: "Fees" and "Expanded Fees." The Expanded Fees tab is where you can input all of the plan's fee information which then reflects into the shorter Fees tab that shows a summary. Editing the Expanded Fees tab will reflect on the Fees tab and not the PlanFees Suite, but editing the Fees tab will not reflect in the Expanded Fees tab, but it will reflect into the PlanFees suite. On the "Fees" card, the weighted expense ratio gets pulled from your "Investments" card while the rest of the information gets pulled from the Expanded Fees tab. 

Thank you for looking at the clues with us this month, we hope you enjoyed learning alongside us. To see next month's, join us Monday, May 5. 

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