Devastating To Plan Participants
Among other fiduciary breach claims, a new lawsuit, filed by retirement plan participants against a freight transporting business, alleges plan sponsor failure to monitor revenue-sharing payments for reasonableness, and describes the results to participants…
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Summary Plan Description?
A proper SPD is mandatory for compliance of the company sponsored retirement plan with ERISA. Importantly, a good, solid SPD is also helpful in the administration of the retirement plan and can even be…
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2023’s Coming: Contribution Limits
Though many of us are still wondering where August went, we’re actually closer to New Year’s 2023 then Labor Day 2022. The government has announced the contribution limits for elective deferrals to retirement accounts…
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Endless Responsibility Lists?
That’s what retirement industry experts say plan sponsors are confronting amid rising expectations for keeping retirement accounts safe. As Michael Bonfante, Business Development Manager at Colonial explains in FiduciaryNews: “Since the DOL’s release of…
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Plan Sponsor Worry List
Plan Sponsor Worry List Retirement plan sponsors across the country find themselves with ever more to do—and worry about—especially in small businesses. Striving to provide employees with better benefits, keep up with regulations, address cybersecurity…
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ERISA 104b Requests?
Retirement plan participants have the right to request plan documents and information. When they make a request, it’s important to respond in a timely manner—and to keep a record of doing so. Pay attention…
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Public Leaders Agree: Securing Retirement
The Senate’s Health, Education, Labor and Pensions Committee (HELP) has advanced the RISE and SHINE Act aimed at improving retirement security. It is anticipated that the Senate Finance Committee will now add to the…
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Are We There Yet?
Despite the hard work of retirement plan sponsors across the country, only a relatively small percent of Americans have financial plans for retirement. Meanwhile, only a tiny percentage of those who have retired describe…
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401k Auto Portability Benefits Everyone
Making it easier for employees to bring their retirement savings along when they shift jobs obviously benefits them. Because it reduces the fiduciary risks associated with missing participants and auto cash-outs, facilitating portability also…
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