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Defined Contribution Plans
Perhaps because of the recent full moon, the nation’s 401(k) “haters” were out in force.
Yes, last week we were “treated” to a Bloomberg op-ed with ideas on how to “fix” America’s broken retirement savings system, a back-handed compliment (of sorts) on SECURE 2.0 in Forbes from Teresa Ghilarducci...
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Why should the rules that determine how and how much a person can save for retirement be different depending on whether the person works for a government entity, a nonprofit or a for-profit employer? People are people, and their retirement needs are not different based on what type of entity...
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Despite ongoing challenges bought about by the pandemic, 2021 withdrawal and contribution data indicate that essentially all DC plan participants continued to save in their retirement plans at work.
Only 2.2% of DC plan participants stopped contributing in 2021, compared with 2.3% in 2020 and 3.4...
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Thanks to their mother, my kids have grown up with a variety of pets in our house—but none more bizarre than our experience with… a chicken.
My son’s elementary school class had been exposed to the miracle of life over the course of several weeks by watching a set of chicks spring forth from eggs...
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An annual analysis of 401(k) plan data finds that the top five industries with the best plans continue to outpace the competition in nearly all metrics.
The results of Judy Diamond Associates’ sixth annual 401(k) Plan Benchmark Report finds that for the second year in a row, the 11,532 firms that...
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When an employer adopts a 401(k) plan, there are many important considerations that it must keep in mind. A recent blog entry discusses key matters an employer should consider.
In “Just Adopted a New 401(k) Plan? Beware These Common Pitfalls,” an entry in the E is for ERISA Blog, Christine P....
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Employers are eyeing changes to their DC plans in an effort to improve their employees’ retirement security and financial wellbeing and to help with recruitment and retention.
In a survey of 363 DC plan sponsors representing a broad range of industries, Willis Towers Watson found that 75% of...
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The House of Representatives’ overwhelming passage last week of the Securing a Strong Retirement Act (H.R. 2954, a.k.a SECURE 2.0) helps set the stage for action by the U.S. Senate later this year, Brian Graff explained at the April 3 opening session of the 2022 NAPA 401(k) Summit in Tampa, FL.
“...
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Last year, more workers took advantage of the convenience of virtual and on-demand 401(k) educational sessions, and it appears this trend will continue even as workplaces move back to in-person work.
According to data from Schwab Retirement Plan Services, participant viewership for virtual live...
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It looks like SECURE 2.0 will be coming up for a vote in the House this week after all.
According to a March 25 Dear Colleague letter from House Majority Leader Steny Hoyer (D-MD), “during the week of March 28, the House will take up legislation to help Americans save for retirement.” The...
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Another 401(k) has been charged with falling short of its fiduciary obligations—and of failing to leverage its “tremendous bargaining power”—though it’s a smaller plan than most caught in those crosshairs.
The plan in this case is 99 Cents Only Stores, LLC (also branded as “The 99 Store”), an...
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Proposed guidance addressing the so-called “one-bad-apple” rule under the SECURE’s Act multiple employer plan (MEP) provisions was released March 25.
The proposed regulations address changes under the Setting Every Community Up for Retirement Enhancement (SECURE) Act providing an exception to the...
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Given that strategies that worked for DC plans in the past may be less successful in the future, it will be critical to incorporate forward-looking market views to keep participants on track, the firm suggests in a new paper.
In “What our Long-Term Capital Market Assumptions Mean for Defined...
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NEPC is out with its 2021 Defined Contribution (DC) Plan Trends and Fee Survey, examining current plan investment trends and innovations across major sectors.
While target date funds (TDFs) continue to be the “turnkey solution,” NEPC notes that one of the more prominent developments is that menus...
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The rules for required minimum distributions (RMDs) apply to a variety of retirement plans and accounts and their participants and holders. Some are the same for IRAs and defined contribution plans, but they are not all the same. Following is a look at the differences and the similarities.
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The “build it and they will come” concept is not as simple for employer-sponsored financial wellness initiatives as it is for a baseball field, according to a new issue brief from EBRI.
Persuading employees to utilize financial wellness webinars can be challenging, especially for younger and...
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April 1 may be April Fools Day, but a deadline looming on that date is no joke: Participants in retirement plans and IRA holders who attained age 72 after June 30, 2021 must receive their first required minimum distribution (RMD) by April 1, 2022.
There is an exception to the April 1 deadline,...
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A class-action complaint was filed March 4 in the Southern District of New York that could have a ripple effect on the retirement industry’s infrastructure, and, at least potentially, the costs of operation.
The suit involves CUSIPs—those unique identifiers that are used to identify U.S. and...
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Another suit has been filed in federal court challenging long-standing practices regarding licensing fees regarding the use of CUSIP numbers.
The latest suit was filed March 7 in the Southern District of New York by Hildene Capital Management LLC. As did the suit filed earlier this month, this one...
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A new 401(k) suit has been filed—with a participant-plaintiff charging an employer with failing… to let him save as much as he wants to.
That’s right—one Lance Baird has accused his employer Hyatt Corporation of failing to properly honor his repeated requests to increase the amount of his salary...
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