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News Archive
Editor’s Note: This is the second in a two-part series about creating and managing retirement plan committees. Part 1 is here.
Fiduciary duties and fulfilling them includes managing the investment of plan assets — and one of the tools for accomplishing that is the investment committee.
Investment...
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Not wasting any time, the Garden State has announced that it will hold a July 17 hearing in connection with its proposed new fiduciary standards.
According to an announcement in the New Jersey Register, the Bureau of Securities also simultaneously announced that it is extending the comment period...
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Nominations are now being accepted for American Retirement Association’s 2020 Board of Directors. Elected at-large members of the Board of Directors serve for one term of three calendar years. Nominees must be nominated by at least two members to be considered.
To view the nomination form, click...
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Defined contribution plans are practically ubiquitous. But like most things that are common, the mere fact that they are does not necessarily mean that comprehension of investing the funds they contain is. A recently released research paper discusses the problem posed by poor financial literacy and...
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A new study suggests that employers that focus on the financial well-being of their workers have a significant opportunity to improve employees’ financial health, while also benefiting their business.
Conducted by the Financial Health Network on behalf of Morgan Stanley at Work, the survey of 1,...
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Please hold on to the bar. That’s sound advice when seated in an amusement park thrill ride. But a recent blog entry suggests that the maxim is applicable to how a plan fiduciary approaches how participants invest their funds amid the vagaries of market volatility.
The rises and falls in the...
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Consistent with prior input from the American Retirement Association, New Jersey correctly excluded ERISA plan fiduciaries from the application of its proposed new fiduciary standards.
In a June 14 comment letter, the ARA – parent organization of the ASPPA/NTSA – expressed support for the proposed...
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An excessive fee suit has been granted class action status in federal court.
This time it’s a group of former participants in the JPMorgan Chase 401(k) Savings Plan, a plan that has approximately 266,000 to 300,000 participants and more than $14 billion in assets.
Suit ‘Case’
In considering the...
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Editor’s Note: This is the first of a two-part series about establishing and managing retirement plan committees.
The last 10-plus years have brought into sharp relief the importance of fiduciary duties and fulfilling them as ERISA requires. Offering a retirement plan has many moving parts, and...
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An annual bellwether report on corporate retirement plans finds that the retirement readiness for participants in those plans is brighter due to plan design enhancements and adoption of prudent investing practices.
In fact, the usage of automatic enrollment has tripled since year-end 2007 and has...
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The average funded status of the 100 largest corporate pension plans in the United States dropped slightly from April to May, while volatility of both assets and liabilities rose slightly, according to recently released data.
According to NISA Investment Advisors, average funded status dropped by...
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Following a contentious markup session, a key House Committee approved legislation on June 11 that would address the funding problems facing multiemployer pension plans.
The House Education & Labor Committee’s approval of an amended version of the Rehabilitation for Multiemployer Pensions Act...
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The headline in a recent New York Times piece cautions that “Confusing Options May Be Coming to Your 401(k). It Could Cost You.”
Those “confusing options”? Retirement income. And, ironically, they might undermine support for the most significant piece of pro-retirement legislation in a decade...
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A new survey finds that the use of an online retirement calculator has spurred more than half of those who did to take positive actions related to their finances.
The nationwide survey of 1,000 401(k) plan participants by Schwab Retirement Plan Services found that just over half (52%) have used an...
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The official hurricane season has just begun (the National Oceanic and Atmospheric Administration says it starts June 1). But we’ve already had a tropical system in the Atlantic (Andrea) — and that serves as a reminder that it can be helpful to a service provider and plan administrator to prepare…...
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Words matter. Don’t think so? The publisher of a King James Bible in the 17th century who left out the word “not” in the commandment “thou shalt not commit adultery” and who suffered the consequences would beg to differ. And words matter in retirement plan communications as well, as recent analyses...
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The Department of Labor’s Employee Benefits Security Administration (EBSA) is responsible for overseeing millions of employee benefit plans, including investigating retirement plans when necessary. A recent blog entry examines what an employer should know about that.
In Thompson Coburn LLP’s blog...
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Life has many lessons to teach us, some more painful than others – and some we’d just as soon be spared. But as graduates everywhere look ahead to the next chapter in their lives, it seems a good time to reflect on some lessons learned along the way.
It’s handy to know at least a little about...
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Whether you are a Game of Thrones aficionado – or haven’t watched a single episode – there are lessons to be learned nonetheless.
Not only are there fiduciary admonitions from the HBO series, it turns out there are words of wisdom for individual retirement savers as well. Check these out.
“When...
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Oregon employers that do not comply with the rules of OregonSaves — the Beaver State’s state-sponsored retirement program — will face penalties starting next year.
Gov. Kate Brown (D) has signed into law SB 164, a measure which provides that an employer found not to be in compliance will face...
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