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The Growing Use of Collective Investment Trusts in Retirement Plans

…pension plans in the United States. For DC plans alone, Pensions&Investments reports that CIT assets rose from $895.6 billion in 2008 to $1.5 trillion in 2014, while Callan Associates reported that 75.8% of plan executives offered at least one CIT in 2015 versus only 43.8%…

Cash Balance

…more than $150,000 annually to a Cash Balance plan. A 60-year-old can contribute more than $260,000. The actual amount depends on your income and age. You can also pair a Cash Balance plan with a traditional 401(k) to reward key executives and provide even more…

HEALS May Not Offer Much for Retirees – But What About TRUST?

…the unemployed. Instead, they are plotting to use the cover of the pandemic to slash Social Security.” AARP Executive VP and Chief Advocacy & Engagement Officer Nancy LeaMond has also objected to adding TRUST to HEALS, calling the former “a bill that is unrelated to…

Check Fiduciary Liability Coverage

…her duty to the plan. Commonly, the employer purchases the insurance as part of the overall compensation package of company executives who assume responsibility over the company’s benefit plan. Check Coverage Carefully Fiduciary liability insurance coverage varies widely from policy to policy, so it’s important…

Credit Unions: Make Sure You Know Your Fiduciary

…– and therefore no accountability. When such a situation arises, oftentimes it is the credit union’s board of directors and/or other executives to whom the moral and legal accountabilities fall. That is something you probably do not want. For the past few years, plan sponsors…

The Ins and Outs of Fiduciary Outsourcing for Community Banks

…incumbent upon the relevant community bank executive to read all communiques from the third-party fiduciary, and to ask and follow through on any questions or concerns. None of these duties should be particularly onerous, especially if you have chosen a reputable external fiduciary. When considering…

A Wish List for Santa

…blocks for many business owners and executives, who often feel that their focus should be on their jobs and not on the legal, moral and ethical obligations involved with being a fiduciary of a retirement plan. By outsourcing the fiduciary role to a knowledgeable third-party…

Electronic Delivery of 401(k) Information: An Idea Whose Time Has Come

…based on estimates that more than 80 million 401(k) plan participants receive eight mailings per year. It is important to note that these efforts are a result of an August 2018 Executive Order signed by President Donald Trump, “Strengthening Retirement Security in America.” Part of…