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“Best Interest” has become part of the American lexicon… as an aspirational goal or a demanding standard — depending on the point of view. But, what does best interest mean?
In a recent blog post, noted ERISA attorney Fred Reish identifies two different best interests: the first a standard of care...
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A new year is under way. What may it portend for retirement income products? A recent analysis takes a look at what may be ahead in 2019.
In “Top 4 Trends Shaping Retirement Income Products in 2019,” a BenefitsPro blog entry, reporter Nick Thornton discusses four conditions that experts from the...
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Employers continue to show widespread interest in providing financial wellness programs to improve worker well-being and reduce financial stress, but there’s little agreement on what makes up a program and no clear way to measure its value, according to panelists at a recent policy forum.
The...
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With retirement issues looming large in the 116th Congress, the American Retirement Association (ARA) has revamped its government affairs leadership team with two key additions.
Will Hansen joins in the new role of Chief Government Affairs Officer, effective Jan. 7, and Allison Wielobob has been...
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Yes, indeed, December was a rough month for the average 401(k) balance.
According to estimates from the nonpartisan Employee Benefit Research Institute (EBRI), among older (age 55-64) workers with more than 20 years of tenure, whose average balance is generally more influenced by market moves than...
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Having lost their case in a recent appellate court decision, plan fiduciaries are now seeking a hearing with the full court.
The plaintiffs in this case had alleged that the IBM defendants (IBM itself, along with the Retirement Plans Committee of IBM; Richard Carroll, IBM’s Chief Accounting...
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New survey results paint a bleak picture of the current state of affairs for retirees, as many wish they were more proactive in saving more and starting sooner.
When looking back on their retirement preparations, nearly three out of four retirees (73%) agree they should have saved more on a...
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The IRS has released the updated version of Form 8950, the application for the voluntary correction program (VCP) under the Employee Plans Compliance Resolution System (EPCRS) for 2019 use. It also has updated a form used for reporting qualified distributions made due to disasters that occurred...
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A sharp drop in stock price – and allegations of prior knowledge by senior management of misdealings – seem likely to produce additional litigation.
The most recent example is a press release by the law firm of Zamansky LLC announcing that the firm has commenced an investigation of Johnson &...
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A proposed settlement in an excessive fee suit has been sent back to the parties for some clarifications.
The suit (Barrett v. Pioneer Natural Resources USA, Inc., D. Colo., No. 1:17-cv-01579-WJM, complaint filed 6/28/17) was brought by plaintiff William Barrett, a participant in the Pioneer...
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