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Technology
The newest digital edition of ASPPA’s members-only magazine has been posted online!
How do you communicate with clients about complex administrative topics? In our Fall cover story, Shannon Edwards and Justin Bonestroo offer some valuable tips in four key areas. In this issue’s feature articles,...
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ForUsAll has announced that 50 companies are now live with the Alt401(k) — staking out a claim to be the first to “deliver crypto in the 401(k).”
According to a press release, their retirement platform “…gives employees the freedom to invest part of their 401(k) in potentially higher-growth...
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Cybersecurity may feel like an unending purgatory of whack-a-mole. But an expert panel at an Oct. 25 session of the 2022 ASPPA Annual Conference offered some tips that can help lead one closer to the promised land of greater security.
“Cyber Cyphers: Tips, Tricks and Practice Shifts that Can Keep...
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Claiming that “granting Defendants’ Motion would invite a brave new world of agency lawlessness,” the ForUsAll plaintiffs that have sued the Labor Department based on the impact of the latter’s position on cryptocurrency investments in retirement plans, have moved to dismiss their motion to dismiss...
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Having been sued for issuing its Compliance Assistance Release on cryptocurrency by cryptocurrency recordkeeping platform provider ForUsAll, the Department of Labor (DOL) is pushing back.
In fairness, ForUsAll describes itself a little differently — as a “modern” 401(k) provider that also offers...
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The pilot of the Colorado SecureSavings, the Centennial State’s state-sponsored retirement savings program for those whose employers do not offer a retirement plan, will launch in October.
The pilot will not be broadly open; the Colorado Secure Savings Board is set to work with a select group of...
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Retirement plan providers are increasing their efforts to encourage saving by redesigning online participant experiences with simplicity and personalization in mind, according to a new report from Cerulli.
In fact, plan providers are making sizable investments in digital technology to enhance...
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Three Senate Democrats have written to Fidelity, raising concerns once again about the “dangers” associated with investing in bitcoin and digital assets, especially within retirement plans.
In their July 26 letter to Fidelity Investments CEO Abigail Johnson, Sen. Dick Durbin (D-IL), the Senate’s...
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The prospect of 401(k) plans adding cryptocurrency to their plan menu is like waiting for “fruit to ripen,” according to a plaintiff’s lawyer who spoke as part of a July 26 “Lessons from Litigation” panel at the 2022 NAPA D.C. Fly-In Forum.
Attorney Mark Bokyo (at right in photo), a Partner with...
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The Department of Treasury is requesting comments regarding potential opportunities and risks presented by the development and adoption of digital assets.
The July 8 request comes following the March 28 Executive Order, “Ensuring Responsible Development of Digital Assets,” directing the Treasury—...
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An ex-participant whose 401(k) account was drained of some $750,000 by a “fraudster” has filed suit against the plan fiduciaries, the recordkeeper and the trustee for alleged breaches of fiduciary duty in not preventing the theft.
The participant-plaintiff here is one Paula Disberry, who worked...
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The Congressional Research Service has issued a concise synopsis of the current policy developments surrounding the inclusion of cryptocurrency in DC plans.
The CRS, which serves as nonpartisan research staff to congressional committees and members of Congress, explains that in recent months...
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Proponents of automatic features for retirement plans have long argued that they boost participation and savings rates, and a recent study joins others suggesting that they are on to something.
“Automatic enrollment in employersponsored 401(k) savings plans has transformed the way that millions...
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A key House Republican has released a discussion draft of financial data privacy legislation that could impact how retirement plan providers and administrators collect and share consumers’ personal information.
Rep. Patrick McHenry (R-NC), who serves as the top Republican on the House Financial...
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After a year in which many consumers had to rely heavily on digital tools for their financial needs, self-reported “financial experts” use digital tools more often than others, a recent survey finds.
According to KeyBank’s 2022 Financial Mobility Survey, 4 in 10 Americans say that access to...
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While a growing number of investors are interested in cryptocurrencies and the appropriateness of investing crypto in retirement plans is a hotly debated topic, a new white paper suggests they are a poor choice for long-term investors.
The latest crypto collapse, driven in large part by the design...
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In the interests of spurring some discussion (and perhaps a few thousand “clicks”), some thoughts on cryptocurrency and its (current) place within retirement plans.
Crypto Is Not ‘a’ Thing
First and foremost, “crypto” is not one thing, it’s several “things”—and there’s enough difference in those...
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Cyber criminals are as innovative as those who develop and refine the technology they manipulate—and now their targets include the retirement industry. Experts in a recent panel, and also in a report, weighed in on the tricks those criminals use and strategies that can help thwart them.
In the...
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“Auto everything” has solved a lot of problems, but the personalization required for decumulation strategies requires a different approach, Prof. Schlomo Benartzi suggested at an April 3 general session at the 2022 NAPA 401(k) Summit.
Benartzi, Professor Emeritus of the UCLA Anderson School of...
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Choosing the right technology and integrating it into your practice smartly can turbocharge your business. At an April 4 workshop session at the NAPA 401(k) Summit, three tech-savvy execs explained how.
The session, moderated by Tom Kmak, CEO of Fiduciary Decisions, featured Petros Koumantaros,...
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