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The start of a new year is an opportune moment to take stock of the way things are done and consider new approaches. A benefits-related organization offers some ideas of things to consider regarding designing and providing a workplace financial education program.
The International Foundation of...
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The confetti has been swept from Times Square and the bubbly bottles are in the recycling, and the nitty-gritty of applying those new year’s resolutions has begun. A recent blog entry has some suggestions for resolutions to follow in order to better fulfill fiduciary duties.
In “6 New Year’s...
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Some things are inexorable. Seasons. Tides. And, argues a recent blog entry, plan litigation. But as with natural phenomena whose effects can be mitigated, the analysis suggests that lessons from the litigation that has taken place can benefit 401(k) and 403(b) plan fiduciaries in 2019.
Litigation...
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The Department of Labor (DOL) is aggressively investigating the practices and procedures of plan sponsors with respect to locating missing participants and distributing benefits to those participants. In some cases, the DOL is asserting breaches of fiduciary duty for failure to perform regular...
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The Pension Benefit Guaranty Corporation (PBGC) has issued new maximum civil penalties that it can assess for failure to provide certain notices or other material information and for failure to provide certain multiemployer plan notices.
The new maximum amounts are $2,194 for section 4071...
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More Americans are more confident about saving for retirement as 2018 draws to a close than they were as the year began, according to a recent study. And more good news — that sentiment has grown the most among younger workers.
Glass Less Empty
The Pew Charitable Trust recently reported that in a...
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Bipartisan legislation to allow plan sponsors to use e-delivery as the default distribution method for ERISA required retirement plan documents was reintroduced in the Senate in the waning days of the 115th Congress.
The Receiving Electronic Statements to Improve Retiree Earnings (RETIRE) Act (S....
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A plan sponsor who had been sued for allegedly breaching its ERISA fiduciary duties in shifting allocations in a plan’s custom target-date portfolios to “risky and high-cost” investments will have to go back to court.
Suit ‘Able’
The original lawsuit, filed in November 2015 in the U.S. District...
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After a year-long investigation into MetLife for failing to make pension payments to retirees, Secretary of the Commonwealth William F. Galvin has announced terms of a settlement with the firm.
According to Galvin, his office has entered into a consent order, requiring MetLife to pay a fine of $1...
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A few years back – when my kids were still “kids” – and believed in the reality of Santa Claus – we stumbled across an ingenious website.
This was a website that purported to offer a real-time assessment of one’s “naughty or nice” status.
Now, as Christmas approached, it was not uncommon for us...
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