Advertisement
News Archive
President Donald Trump will sign an executive order on retirement security at a public appearance in Charlotte, NC on Friday, Aug. 31.The White House announced the appearance Aug. 28. Published reports note that at around 2:00 p.m., President Trump is scheduled to go to Central Piedmont Community...
READ MORE
Finding missing participants serves a plan and employer well for a variety of reasons. But that doesn’t mean it’s an easy process — nor one made as clear by federal guidance as some may wish. A recent column suggests some best practices for performing this function.
In “Make Sure You Take...
READ MORE
It is not unusual to delegate or even outsource functions investment committees commonly perform. But taking that step doesn’t mean washing the hands of all involvement with governance. A recent blog post makes suggestions regarding what can be done to continue to monitor and exercise active...
READ MORE
Hybrid plans have proliferated and employer contributions to them have increased, says a recent report.More precisely, from 2015 to 2016, there was a 15% increase in the number of cash balance plans — also known as “hybrid” plans — which combine the high contribution limits of traditional defined...
READ MORE
Most people view automatic enrollment in a 401(k) as a good thing1 – but apparently it has a heretofore unappreciated “dark” side.At least that was the focus of a headline in a recent Wall Street Journal article (subscription required) that asked (and answered) the provocative question: “401(k) or...
READ MORE
A new study concludes that uncertainty about one specific aspect of retirement means that some investors may need to double their current savings to hit their retirement targets.That specific aspect? Retirement age. A new report by Morningstar concludes that “a person’s retirement age is simply too...
READ MORE
Witnesses at a U.S. Senate hearing addressed industry efforts to improve financial literacy and offered a number of policy solutions to alleviate financial stress and improve retirement security.The Aug. 21 hearing by the Senate Health, Education, Labor & Pensions (HELP) Subcommittee on Primary...
READ MORE
The IRS has extended temporary nondiscrimination relief for closed defined benefit plans. It now is making the relief it had made available in Notice 2014-5 available for plan years beginning before 2020 as long as the conditions Notice 2014-5 sets are satisfied. The IRS made the announcement on...
READ MORE
Automatic enrollment has long been touted as an effective means to increase participation in retirement plans. And a recent study has found strong retention among employees added to plan rolls automatically.
In a recent study, the Pew Charitable Trusts found that overall retention rates among...
READ MORE
When ranking their interest in retirement education, employee plan participants are most interested in financial wellness and better understanding retirement planning resources available to them, new survey results reveal.Of the more than 9,200 participants who took part in CUNA Mutual Retirement...
READ MORE
Initially dismissed without prejudice, a suit that challenged a stable value provider of taking “hundreds of millions of dollars annually in undisclosed compensation” from retirement plans and participants has come up short.
Here Darlene Dezelan, a participant of the Cedars-Sinai Medical Center...
READ MORE
Would you, or someone you know, like to receive the Qualified 401(k) Administrator (QKA) credential? This credential is ideal for retirement plan professionals looking to further their careers. PenChecks Trust Company of America (PenChecks Trust®) and the American Society of Pension Professionals...
READ MORE
Scottrade’s attempt to make a federal case of an administrative proceeding filed by Massachusetts alleging violations of internal policies adopted in anticipation of the Labor Department’s fiduciary rule has been rebuffed by a federal judge.
Here the plaintiff (the Enforcement Section of the...
READ MORE
Participants took a vacation from 401(k) transfers in July, with no above-normal trading days – the first time that’s happened in more than a year.Not that it hasn’t been heading in that direction; May and June each saw only one day of above-normal trading. Still, July was the first month since...
READ MORE
The IRS has said that a 401(k) plan can be amended to include a student loan benefit program.
In private letter ruling (PLR) 201833012, dated May 22 and released Aug. 17, the employer in question had asked the IRS for a ruling on whether its proposal to amend the plan to provide student loan...
READ MORE
Being a fiduciary is serious business. And complex. But a recent blog entry boils it down to seven common sense rules for a fiduciary to keep in mind.In “7 Rules Every Professional Fiduciary Must Follow,” Christopher Carosa of Fiduciary News suggests that complying with the legalities of serving as...
READ MORE
Concerns about increasing health care costs and the potential to outlive savings are dampening employers’ confidence in their employees’ retirement futures, new survey results show.Nearly half of nonprofit and corporate, for-profit employers are only “somewhat confident” in their employees’...
READ MORE
Average individual 401(k), 403(b) and IRA account balances bounced back after a slight dip in the first quarter, showing solid year-over-year growth, according to data on Fidelity Investments clients.
Highlights from the firm’s second quarter 2018 analysis of retirement savings trends — based on...
READ MORE
The Pension Benefit and Guaranty Corporation (PBGC) has proposed changes to two schedules to the Form 5500 — Schedule R, Retirement Plan Information, and Schedule SB, Single-Employer Defined Benefit Plan Actuarial Information.Schedule RThe PBGC is proposing to modify Schedule R to obtain...
READ MORE
You may have seen recent coverage of a new “study” that found a surge in bankruptcy filings among retirees.
The New York Times led the charge with “Too Little Too Late: Bankruptcy Booms Among Older Americans,” and the Wall Street Journal jumped in with “Bankruptcy Filings Surge Among Older...
READ MORE