Plan Sponsor: What Not To Do

Examples of “don’ts” offer a crystal clear picture of the diligence expected of retirement plan sponsors. At the Department of Labor (DOL), the Employee Benefits Security Administration (EBSA), provides a snapshot of civil violations, along with “Getting It Right” educational...

Article

Fully Engaging As a Plan Sponsor?

Retired plan sponsors are busy people, with lots of built in duties and deadlines. Learning about SECURE 2.0 provisions, keeping up with cybersecurity protocols, and staying on top of emergent regulations contribute to ever fuller days. Nonetheless, continuously engaging participants...

Article

Cybersecurity Insurance: Yes, Plan Sponsors Need It

Speaking at a Plan Sponsor Council of America convening, Lisa Gomez, the Assistant Secretary of the Employee Benefits Security Administration, emphasized the importance of cybersecurity insurance, and observed that many plan sponsors are confused about whether or not they actually...

Article

Best Practices for Retirement Plan Sponsors

As fiduciaries, plan sponsors must take an active role in overseeing the plan, even when outsourcing. Here are examples of best practices for plan sponsors related to keeping all participants engaged and informed, avoiding the dangerous problems associated with missing...

Article

Fiduciary Basics for Plan Sponsors

Even as The Department of Labor continues efforts to clarify the fiduciary rule, it’s critical for plan sponsors to understand and act in accordance with the fundamentals of the role under the standards of ERISA law. Here is a helpful...

Article

A New Job for Plan Sponsors: Cybersecurity

  The more every business (and person in it) uses technology, the bigger the “attack surface” for cybercrime becomes. Last year’s massive MOVEit data breach, compromising data at over 600 businesses, sounded an alarm: whether or not they want the...

Article

A Win for Plan Sponsors?

  It’s been two decades since a torrent of lawsuits began alleging that fiduciary failures were resulting in high fees for participants, and attorneys say the copycat claims are unlikely to stop anytime soon. There is, however, a modicum of...

Article

Plan Sponsor Fears: Litigation!

Retirement plan sponsors may find some consolation from knowing that they are not alone in their fears of being swept up in ERISA litigation, despite their diligence. Unfortunately, analysis finds that when fear results in a reduced menu of investment...

Article

Predictions for Plan Sponsors: 2024

Change is in the air, and toward attracting and retaining employees, plan sponsors are busily expanding traditional company retirement plans to include financial advice, emergency savings, loan repayment and more. Read on for ideas about the 401k of the future....

Article

Plan Sponsors: What’s On Your Mind?

According to recent research from Fidelity Investments, about three quarters of retirement plan sponsors say they are “very satisfied” that the company plan is meeting objectives. However, many are concerned about how well the plan is aiding in the recruitment...

Article