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Technology
A strong majority of attendees at a recent conference for executives, investment professionals and registered investment advisors expect that changes to their technological systems will be necessary in order to comply with the Department of Labor’s fiduciary rule. An even greater majority expect...
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A recent blog post provides tips and ideas for ensuring that plan and participant information is secure and protected from cyberattack. “Addressing Cybersecurity in Your Retirement Plan TPA Contract,” by the law firm von Briesen & Roper, offers ideas on how to incorporate cybersecurity...
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The Department of Labor’s 2016 Advisory Council on Employee Welfare and Pension Benefit Plans has announced that it is embarking on an in-depth study of cybersecurity as it applies to benefit plans.“Cybersecurity Considerations for Benefit Plans” is not the first such effort. The new project builds...
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The Pension Benefit Guaranty Corporation (PBGC) has updated My Plan Administration Account (My PAA), the web-based application that allows electronic submission of premium filings and payments.The PBGC has announced that now: filers may move plans in their account so that their more frequently...
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Add to the list of plan fiduciary concerns, cyber-related threats to plan assets and participant personal information.These days much of that information lies in the hands (or, more accurately, the computers) of recordkeepers and third-party administrators (TPAs), though an analysis by attorneys at...
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The advent of a new year traditionally is a time to take of stock of where one has been and what lies ahead. Accordingly, Transamerica recently issued “Prescience 2019: Expert Opinions on the Future of Retirement Plans,” a report containing the results of its survey of experts from a wide range of...
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The “Sandwich Generation” (roughly those age 45-65) and the Millennials (roughly those age 18-35) are separated in age by one to four decades. That’s quite a gap, and those generations have starkly different needs and concerns. But while the reasons for it may differ, they are alike in at least one...
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Automatic enrollment appears to be catching on, a new study by Deloitte finds.The 2015 Deloitte Defined Contribution Benchmarking Survey shows that the number of employers whose plan includes an automatic enrollment/negative election feature stands at 62% and growing; 40% satisfy the safe harbor...
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