Audit Changes: Written Reports
Head’s up for plan sponsors: Enhanced audit requirements go into effect on December 15. Aimed at reducing the deficiencies of limited-scope audits, the new audit standard requires a written report from plan sponsors, attesting…
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ERISA Violations?
Alleging a variety of ERISA violations, the former participants of a KPMG 401(k) plan are suing the company—and the plan fiduciaries. The complaint has been filed in U.S. District Court in Newark, New Jersey,…
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Decisions, Decisions: Annuities?
Making guaranteed lifetime income options more readily available through 401(k) plans is a list topper for plan providers—and employers— these days. Here’s why—and an example of how Blackrock is proceeding. Guaranteed Lifetime Income?…
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Cybercriminals: Sophisticated Techniques
The Federal Bureau of Investigation reports a 69% spike in cybercrime complaints from 2019-2020. Financial losses totaled over $4 billion. As the techniques deployed by cybercriminals are becoming more sophisticated, retirement plan recordkeepers are…
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Committee Agenda?
Although ERISA does not require retirement plan committees, having the help of experts can contribute to decisions that are made prudently, in the best interests of participants and beneficiaries. Follow this expert guidance to ensure…
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Vigilance Against Cyber Crime
The Plan Sponsor Council of America (PSCA) urges continuous vigilance against cybercrime, Since criminals have retirement plans in their sights, efforts to prevent attacks are critical and must be ongoing. Having an expert response…
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What Does Your Adviser Think?
Retirement plan advisers find that for the most part, plan sponsors are knowledgeable about the investment lineup and meet Department of Labor filing deadlines. However, plan advisers encourage plan sponsors to advance their understanding of…
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Investment Advice for Participants?
Is your retirement plan providing adequate information to participants about the funds in the plan? What does the Department of Labor consider adequate? What services can you ask a plan advisor to provide? These…
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Revenge Spending vs Retirement Savings?
Spending trends are way up! Pension industry experts advise retirement plan sponsors to ensure participants are receiving a steady flow of information about saving and retirement planning. Thriving retirement plans focus on high levels of…
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