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Defined Contribution Plans
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...
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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...
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Washington, and federal agencies, are rife with an alphabet soup of acronyms — and the IRS is certainly part of it. A recent blog entry addresses some of the collections of letters applicable to auto-enrollment.
In “Making Sense of Auto-Enrollment Rules,” Michael Webb of Cammack Retirement...
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Things continued to heat up in July for those average 401(k) balances.According to estimates from the nonpartisan Employee Benefit Research Institute (EBRI) based on the actual contribution records and investment choices of several million consistent participants in the EBRI/ICI database, the...
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Summer can be a great time to catch up on continuing education credits — and ASPPA has plenty of easy-to-access alternatives. We’ve got great information on compelling topics — and you can do it all without leaving your desk (or hammock).
Upcoming Live Webcasts
August 29 — How a Defined Benefit...
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Legislation has been introduced in the U.S. Senate that would give any worker not currently covered by an employer-sponsored retirement plan access to a new type of retirement savings account.The American Savings Act, first introduced in January 2016 and reintroduced July 19 by Sen. Jeff Merkley (D...
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An unspecified number of participants in plans recordkept by Vanguard were told their loans had been processed. But they hadn’t.
Furthermore, according to the Wall Street Journal (subscription required) the loans hadn’t been requested.
The text message informed recipients that their loans had...
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Big plans may have more assets (and larger fees), but new data suggests that there’s more promise in focusing sales efforts on small and mid-sized plans.
Those conclusions – from the 2018 Retirement Planscape, an annual Cogent Reports study by Market Strategies International-Morpace – said that...
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In Part 1 of this three-part series, I reviewed a recent Wall Street Journal (WSJ) article that suggested today’s retirees are less prepared than prior generations as well as other articles that suggested tens of millions of older Americans will soon live in poverty. The 401k was named as a culprit...
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Are you tired of the everyday grind? Looking for an opportunity to take a step back and re-energize yourself? Earn those final CE credits needed by attending the last of the only two live regional conferences offered during the 2018 continuing education reporting cycle. The ASPPA Cincinnati...
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A new study reveals a number of remarkable developments in plan design trends and participant savings behaviors among small business defined contribution plans.In Vanguard’s fifth annual “How America Saves: Small business edition,” small business DC plans experienced a surge in coverage — from...
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You’ve doubtless at some point in your career had someone walk up to you and say “I’ve got good news, and I’ve got some bad news.” Well, there was good news – and some not-so-good news about plan designs and participant behaviors in a recent industry survey.
According to T. Rowe Price’s 10th...
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A recent Wall Street Journal article raises the spectre of a retirement “crisis” in America. The WSJ article specifically claims Baby Boomers are less prepared for retirement than prior generations. In fact, society in general is much better off today than in the past. The article misrepresents the...
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New research reveals that many 401(k) plan participants still do not know what to do with their proverbial “pile of money” at retirement and need guidance.
Findings from “The Cerulli Edge ? U.S. Retirement Edition, 2Q 2018 Issue” show that participants aren’t always clear on what they should do...
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In what looks to be a first in excessive fee litigation, a court has ordered plaintiffs to produce some Facebook posts.In this excessive fee suit, the plaintiffs charge — as others have in similar actions — that the fiduciaries of the $5.1 billion Anthem 401(k) Plan (formerly the WellPoint 401(k)...
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The Department of Labor (DOL) has unveiled the much-anticipated final version of a rule that allows more small businesses and self-employed workers to band together to buy health insurance — and may have dropped a small hint about retirement multiple employer plans (MEPs).
The association health...
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A recent survey of DC plan sponsors and consultants finds that when selecting a target-date strategy or other QDIA, plan sponsors were most concerned about participants’ longevity risk and their ability to achieve higher retirement account balances over the long term.T. Rowe Price’s survey, “...
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There were mixed results for defined benefit and defined contribution plans in the first quarter of 2018, the Federal Reserve reports. In short: assets grew, but so did liabilities.
Assets
The Fed reports that assets for private DB and DC plans — showed mixed results since the 4th quarter of 2017...
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Guess how many CE credits you can get at the ASPPA Annual Conference.This year you can earn up to 25 ASPPA CE credits — with three ethics credits available — for the 2017–2018 CE cycle. Sessions offer up to two credit hours each.At “ASPPA Annual” — one of the retirement industry’s longest-running...
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Another provider has been sued by an employee-participant in its own 401(k) plan, not just for its inclusion of proprietary funds, but the type and number of options on its menu — and its target-date strategy.The suit, filed by participant-plaintiff Diego Cervantes in the U.S. District Court for...
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