Housekeeping Time: Tips for Plan Sponsors
You are not alone if you find yourself cloudy on your fiduciary obligations as a plan sponsor. Retirement industry executives observe that very few plan sponsors deeply understand their fiduciary duties or how to protect…
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Pandemic’s Impact on Retirement Saving?
As 2021 ends, new insights into how the pandemic has impacted retirement savings are emerging. A study by recordkeeper Empower Retirement provides insights based on a study with about 4 million retirement plan participants….
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Challenging Times for Plan Sponsors
The storm of lawsuits alleging violation of Employee Retirement Income Security Act (ERISA) fiduciary duties continues to push plan sponsors into settlement negotiations. Though costly, settling before trial frequently ends up becoming more appealing…
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ERISA Law: Correcting Violations?
To encourage retirement plan fiduciaries to bring plans into compliance with the Employee Retirement Income Security Act (ERISA), the Employee Benefits and Securities Administration(EBSA) administers the Voluntary Fiduciary Correction Program (VFCP). In 2021, the…
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Income Illustrations?
That’s what retirement plan sponsors across the country need to be asking their plan administrators about this quarter. Why? The 2019 Secure Act mandated that participants receive two illustrations, at least once each year,…
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Form 5500?
Form 5500? Experts remind retirement plan sponsors that they have “two masters”: the Department of Labor (DOL) and the Internal Revenue Service (IRS). While the Department of Labor oversees compliance with ERISA, the IRS polices…
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Retirement Plans In Demand
The “great resignation” is not over: a survey from Principal Financial Group found that a third of workers in the U.S. are considering job changes or retirement in the next 12-18 months. Benefits are going…
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Lessons From A Recent Hack
Recently, the Missouri teacher’s pension fund was attacked—exemplifying just how vulnerable retirement funds are to cyberattacks. Cybersecurity experts provide practical advice to help plan sponsors protect the retirement savings of their employees and beneficiaries. Always…
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SOC Report? Ask For It!
As a plan sponsor, you know you need to ask your service providers about how they are preventing security breaches. Doing so is critical to the protection of the retirement assets of your plan…
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