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The digital age means more than just a universe of information in the palms of our hands. It also means that plans and those who serve them have powerful new tools to facilitate and drive retirement readiness. Behavioral economist Shlomo Benartzi, Senior Academic Advisor for the Voya Behavioral...
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So you think your data is safe? It probably isn't, as keynote speaker Kevin Mitnick, “the world’s most famous hacker” and bestselling author, demonstrated at the 2019 NAPA 401(k) Summit.
Mitnick, once on the FBI’s Most Wanted list, is now a trusted security consultant to Fortune 500 companies...
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The IRS is conducting a study of how burdensome it is for pension plan sponsors to fulfill tax reporting requirements with which they must comply. It will be conducted throughout 2019.
In response to reports the IRS received that these requirements exact a high cost in expenditure of time and...
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Principal Financial Group has announced a definitive agreement with Wells Fargo & Company to acquire its Institutional Retirement & Trust businesses. Principal will assume ownership of Wells Fargo’s DC, DB, executive deferred comp, ESOP, institutional trust and custody, and institutional...
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As a vital safety net for millions of pension plan participants and retirees, the Pension Benefit Guaranty Corporation is facing some difficult challenges. A recent report by the Congressional Research Service (CRS) puts those challenges in comprehensive, and sharper, relief.
In “Pension Benefit...
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Ascensus, the nation’s largest TPA, announced April 8 that its TPA Solutions group will become FuturePlan by Ascensus.
The division consists of 42 locations across the country servicing more than 34,000 plans with 30 different recordkeeping partners. Its expertise includes DC plans, DB plans (...
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At the opening general session of the 2019 NAPA 401(k) Summit on April 7, Preston Rutledge, head of the DOL’s Employee Benefit Security Administration, and ASPPA Executive Director Brian Graff reported respectively on what EBSA and NAPA are anticipating in the coming year.
Retirement plan...
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Offering lump sum windows to pension recipients recently got a green light of sorts. But not everyone is convinced that that’s a wonderful thing, and suggest that lump sums may not be exactly a panacea.
The IRS in Notice 2019-18 said that it no longer plans to amend the required minimum...
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A new report claims that participants and plan sponsors are keen on ESG – but apparently not enough to do much about it.
The report, by Cerulli Associates, cites a 2018 survey of 1,000 active 401(k) plan participants among which “more than half” agreed with the statement, “I prefer to invest in...
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A bipartisan task force in Pennsylvania is recommending the establishment of a state-run auto-IRA program to help workers who don’t have access to a private-sector retirement plan.
The task force, which was established in September 2017 by State Treasurer Joe Torsella, released a report March 27 ...
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