It seems like only yesterday that we did a deep dive into Weber Grills' 401(k) plan in honor of Memorial Day, and here we are already coming off the weekend of Memorial Day's evil twin: Labor Day.
Schools are back in session, the federal government is approaching the end of its fiscal year, and it's a particularly auspicious time for people in the benefits world. This is the kickoff of selling season. On both the retirement and the welfare benefits side of things, this is when most plans are up for renewal, and when most HR decision makers are going to be receptive to your pitch.
I've covered the importance of the plan renewal date before, and you can see from this article in July just how much is at stake here: http://www.benefitspro.com/2011/07/12/make-some-june-money.
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Using the 5500 data that's on FreeERISA, I can really hone in on the plans that are not only going to be easy sells, but that have the potential to put the most cash in my pocket.
For example, I can see that there are eight 401(k) plans right in my ZIP code that are set to renew in December. There's a potential for me to add almost $70 million in assets to my book of business. From the 5500 itself I've got phone numbers to call and the name of the person I need to talk to about switching to Dan Cole Fiduciary Services.
But hey, it's still early September. The sun is shining. I think I'll put on a suit and just walk.
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