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Technical Resources
Not only do individual account assets make up a large portion of the financial assets of those who own them, but those with individual accounts have significantly higher net worth levels than those without them, according to new research by the Employee Benefit Research Institute (EBRI).Based on an...
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A majority of U.S. workers hold debt in addition to their mortgages, and that’s a problem regarding financial security during retirement, says a recent study. It found that this debt is hurting its holders’ ability to save for retirement.LIMRA reports in "Danger Ahead? Impact of Debt on Retirement...
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The Pension Benefit Guaranty Corporation (PBGC) issued guidance on April 3 to assist multiemployer pension plans that request its review of alternative plan rules for satisfying employer withdrawal liability. The guidance explains the PBGC’s review process, the information needed and factors it...
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Following in the footsteps of several other states, the Empire State is moving forward with its own voluntary retirement savings program for employees who are not offered a plan through their employer.At a March 30 press conference, Gov. Andrew Cuomo (D) announced that he had reached an agreement...
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One of the first university 403(b) cases to be filed has had most of its motions to dismiss denied in the U.S. District Court for the District of Connecticut. The suit against Yale University was one of the first to be filed in this area — and by Schlichter Bogard & Denton LLP, the law firm...
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The Department of Labor’s (DOL) fiduciary rule may be on hold indefinitely, but that doesn’t mean that fiduciary duties similarly are in limbo. A recent blog entry offers some tips for meeting them. In “A Simple Guide for Meeting 401(k) Fiduciary Responsibilities,” an entry in Employee Fiduciary’s...
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An industry trade group has settled its lawsuit against the Oregon Retirement Savings Board (ORSB) – but the issue raised wouldn’t seem to be settled yet.
The ERISA Industry Committee (ERIC) had filed a lawsuit Oct. 12 against the ORSB, saying that a provision of the state’s OregonSaves...
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The 5th Circuit Court of Appeals recently “vacated” the DOL’s fiduciary rule and exemptions. What does that mean for recommendations to participants that they take plan distributions and roll them over to IRAs?Well, according to the latest blog post from noted ERISA attorney Fred Reish, “It means a...
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Since 2009, total 401(k) plan costs have decreased whether measured on a plan-, participant- or asset-weighted basis, according to the latest report in the BrightScope/ICI Defined Contribution Plan Profile series.Based on BrightScope’s total plan cost measure, which includes all fees on the audited...
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Sign up now for the 2018 ASPPA Eastern Regional Conference to take advantage of the extended Early Bird registration rate, which is now available until April 3.The 2018 Eastern Regional Conference will be held at the Doubletree Center City Hotel in Philadelphia on Thursday, April 26 and Friday,...
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The DOL Advisory Council on Employee Welfare and Pension Benefit Plans’ latest report centers on one overarching theme: simplifying plan disclosures to participants and beneficiaries. The report also recommends further exploration of the utility and effectiveness of electronic delivery mechanisms.“...
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It’s no secret that defined contribution plans have long been advancing at the expense of defined benefit plans. And while a recent report from the Department of Labor’s Employee Benefits Security Administration (EBSA) confirms this overall trend, it also shows surprising vitality among DB plans....
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An appeal of a decision supporting the Department of Labor’s (DOL) fiduciary rule won’t have its day in court, after all.
The DOL and the National Association for Fixed Annuities have stipulated and agreed to a “voluntary dismissal” of an appeal pending in the U.S. Court of Appeals for the...
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Wyoming Gov. Matthew H. Mead (R) has signed legislation (WY SF 116) creating a retirement income security task force to study the Equality State’s retirement preparedness and retirement savings programs — and the possibility of creating a state-run retirement plan for private-sector workers.The...
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A suit against third-party administrator Vantage Benefit Administrators has been amended to include another party alleged to be complicit in the theft of money from a number of retirement plans.
Last December, MBA Engineering Inc. had accused Vantage Benefits Administrators, Inc., Vantage CEO...
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Administering a plan can be challenging, even when the plan is actively run and all the participants are accounted for. But throw in a plan that’s abandoned or some participants who are missing, and it’s a lot more complicated. A recent ASPPA webcast addressed those unwelcome situations.In the...
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Given the recent attention and lack of formal guidance addressing missing participants for ongoing DC plans, there are increasing calls for the government to formally address how far plan sponsors need to go to find missing participants.Noting that the IRS, Labor Department and PBGC have been...
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The 5th Circuit’s ruling in Chamber of Commerce et.al. v. U.S. Dept. of Labor vacating the Department of Labor’s (DOL) fiduciary rule was a win for opponents of the rule — at the very least in the states in that circuit. But a recent analysis suggests that in the long run, opponents who took that...
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In a March 15 decision, the U.S Court of Appeals for the 5th Circuit vacated the Department of Labor’s (DOL) fiduciary rule. But did that ruling really kill the rule? In “Flashpoint: Did the 5th Circuit Kill the DOL Fiduciary Rules?” the Ferenczy Benefits Law Center provides an analysis of the...
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While many would argue that comparing the returns of DB and DC plans is not an apples-to-apples analysis, a new report examines the plan performance gains that DC plans have made against DB plans.CEM Benchmarking’s report, “Defined Contribution Plans Have Come a Long Way,” finds that DB funds have...
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