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What comes to mind when you think of Socrates? Probably not defined benefit plans. And yet, a recent blog entry posits that there is indeed a connection.In “Know Thyself: Socratic Thoughts on Defined Benefit Fee Policy Statements,” Mike Clark, Consulting Actuary at Principal Financial Group, argues...
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It’s hard work to build, maintain and administer a good retirement plan. But all that effort comes to naught in the absence of effective communications, and for a variety of reasons. A recent blog post offers some reminders of why.In a recent PenChecks Trust blog entry, “Say it Loud and Clear — the...
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A new analysis finds that the costs of providing retirement benefits declined by 25% between 2001 and 2015, but perhaps not for the reason(s) you think.Between 2001 and 2015, overall employer benefit costs relative to pay rose by 3.5 percentage points. Pay increases have not kept pace with higher...
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The Labor Department has filed for a stay of proceedings in litigation challenging the fiduciary regulation.“Here, a stay of proceedings would be the most efficient use of judicial resources,” the Labor Department noted, going on to state that the plaintiff in the case (Thrivent Financial for...
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New survey results from LPL Financial suggest that well-targeted tax incentives for either starting a retirement plan or automatically enrolling employees in one may be a powerful motivator for small businesses to adopt and enhance a retirement plan for their employees.Based on the survey’s...
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The Treasury Department on July 28 announced that it will begin winding down the myRA program. Treasury’s action, which will end the program started in 2014, comes after a review of the program and its cost-effectiveness. U.S. Treasurer Jovita Carranza said in a press release that Treasury will be...
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As more states look to establish retirement savings plans for private sector workers, a new report by LIMRA’s Secure Retirement Institute finds that 55% of DC plan sponsors indicate they are “very likely” or “somewhat likely” to stop offering their DC plan in favor of having their employees enroll...
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Nevada’s new law that imposes a fiduciary duty on broker-dealers, sales representatives and investment advisers is now in effect; it also authorizes rules on fiduciary duty.SB 383, which Gov. Brian Sandoval (R) signed into law June 2, went into effect on July 1. The measure not only concerns duties...
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Platform consolidation has re-emerged as the top initiative for managed account providers, according to a new study by Cerulli Associates.Cerulli’s “U.S. Managed Accounts 2017: Convergence and Its Implications” report found that more than half (59.6%) of those surveyed identified platform...
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A new Morningstar analysis finds no relationship between fund manager changes and future returns — but there are impacts.“A management change is not predictive of a performance downturn,” notes Quantitative Analyst Madison Sargis and Kai Chang, Director of Quantitative Research at Morningstar. “In...
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