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Defined Contribution Plans

SECURE 2.0 is a reality now — and two industry experts offered their insights in a Jan. 25 webcast as the dust settles.    American Retirement Association Director of Regulatory Affairs Kelsey Mayo, who also is a Partner at Poyner Spruill LLP, and American Retirement Association Director of... READ MORE
Just four years after striking an excessive fee settlement, a fund company has been sued again — for allegedly not making the changes to its 401(k) lineup the settlement contemplated. The defendants in the case are Allianz Asset Management of America, and the (new) participant-plaintiffs are Chad... READ MORE
Asked about their views on defined contribution plans, an overwhelming majority of respondents in a new survey say they value the investment opportunity 401(k) plans provide and are opposed to changing the tax preferences or investment control in those accounts.  In fact, nearly 9 in 10... READ MORE
With the markets taking a beating throughout much of 2022, 401(k) investors apparently sought the safety of fixed income through their trading activity, yet equities were still very much in demand, according to the Alight Solutions 401(k) Index. The firm’s 2022 observations show that 184 out of... READ MORE
Legislation that would create a state-run multiple-employer retirement saving plan in the Show Me State is before the Missouri House of Representatives. HB 155, introduced by Rep. Michael O’Donnell on Jan. 4, would establish the Show-Me MyRetirement Savings Administrative Fund, a multiple-employer... READ MORE
A recently unveiled settlement in a 401(k) excessive fee suit has hit a snag. In fairness, the announced settlement was only a “partial” settlement—one that plaintiffs Wendy Berry, Lorri Hulings, and Kathleen Sammons announced with regard to claims against Aon Hewitt Investment Consulting, Inc. as... READ MORE
Three parties have been sued as fiduciaries in a case involving theft of a 401(k) balance—a federal judge just let one off the case. The participant-plaintiff whose account was stolen is one Paula Disberry, who worked for Colgate-Palmolive from December 1993 to March 2004, in England, Mexico and... READ MORE
Loaded up with a fresh set of plaintiffs, a familiar plaintiffs’ attorney is having yet another “go” at plan fiduciaries in an excessive fee suit. The law firm in question is none other than Capozzi Adler PC[1] (and Johnson Fistel LLP), which filed a similar (identical?) suit against this same... READ MORE
There was a LOT going on this year — and you rewarded our hard work in bringing you the latest news and trends by clicking, sharing, and occasionally commenting on our content.  What were the top five clicked-on stories of 2022? Oddly, the fifth-most clicked on story of 2022 — was actually written... READ MORE
Capping off months of anticipation and hard work, the SECURE 2.0 Act of 2022 is now law, since the President signed the legislation Dec. 29 after it was flown down to him while on vacation in St. Croix, U.S. Virgin Islands.  The final SECURE 2.0 legislation[1] was included in Division T of the... READ MORE
Americans saving for retirement through their defined contribution (DC) plan have largely stayed the course throughout 2022 even though their account balances have taken a hit. The latest ICI survey data for the first three quarters of 2022 of plans covering more than 40 million participant... READ MORE
There are 92 provisions in the new SECURE 2.0 Act — and by at least one assessment, they are “almost universally good, with ‘good’ being defined as ‘helpful to the cause of promoting retirement security.’” Group Plan Systems’ Pete Swisher and Cherisha Chapman rank the Top 10 Impact Provisions — and... READ MORE
There was a LOT going on this year — and you rewarded our hard work in bringing you the latest news and trends by clicking, sharing, and occasionally commenting on our content. What were the top clicked stories of 2022? The lives (and experiences) of ASPPA Connect readers are often shaped by... READ MORE
While it came down to the wire, both the House and Senate have now approved the much-anticipated SECURE 2.0 Act of 2022 as part of the mammoth $1.7 trillion omnibus spending bill.  For months, it was anticipated that Congress would attach a final SECURE 2.0 package to a year-end spending bill, but... READ MORE
There’s a lot still to unpack in the new SECURE 2.0 Act of 2022, but 24 hours after its publication, here are some additional highlights. First off, it’s worth reiterating that the legislation still needs to be approved by both the House and Senate, and signed by President Biden. At this point,... READ MORE
After months of speculation on whether the House and Senate would attach a final retirement security legislative package with a must-do, year-end spending bill, we now have an answer. While most were nestled all snug in their beds in the waning hours of Dec. 19, House and Senate leaders released... READ MORE
A new study finds that engaged 401(k) plan participants are saving at significantly higher rates than that of unengaged participants, demonstrating that getting people involved in their retirement planning is a key component of driving better outcomes.  According to Empower’s second annual... READ MORE
As the economic climate becomes more complex, plan design has emerged as a differentiator to help drive employee enrollment and support the company’s talent strategy, according to new research. Because 401(k) plans continue to be an essential workplace benefit, plan sponsors are emphasizing the... READ MORE
“You better watch out, you better not cry, you better not pout…”  Those are, of course, the opening lyrics to that holiday classic, “Santa Claus is Coming to Town.” And while the tune is jaunty enough, the message — that there’s some kind of elfin “eye in the sky” keeping tabs on us has always... READ MORE
The newest digital edition of ASPPA’s members-only magazine has been posted online! Several long-term trends are making the need for retirement planning more acute and the involvement of retirement professionals much more important. In this issue’s cover story, John Iekel takes a closer look. In... READ MORE

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