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

…stuff file cabinets with old paper records. Now there are plans afoot to allow for the electronic delivery of 401(k) information – a move that the Investment Company Institute (ICI) estimates could save the 401(k) industry more than $500 million per year. Its report was…

New Survey Provides Worrying News About Retirement Savings

Now that we seem to be emerging from the COVID-19 crisis – emphasis on “seem” – it is time for the retirement savings industry to begin the long process of assessing where things stand. According to a new consumer survey, things are standing a little…

2020: The Year That Was

…Senate still undecided) were just a handful of the stories that made headlines this year. And there were plenty of significant developments for the retirement industry as well – many of them, of course, tied to the pandemic. Here is a look back at a…

ERISA-Related Lawsuits Beg the Question: How Much Is Too Much?

How much is too much? Recent Employee Retirement Income Security Act (ERISA)-related lawsuits have made the question “top of mind” for many in our industry. In one case, the Trader Joe’s grocery chain has been charged with “breaching its ERISA fiduciary duties in the management,…

Feeling More SECURE About Retirement

…a number of ways. Small local businesses can join together in order to offer retirement plans for their workers, in what is known in the industry as a MEP (Multiple Employer Plan) – something that can save time and money for the company while benefiting…

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

…employer-sponsored money purchase plans are included in those retirement plans that qualify for the temporary rules enacted under the CARES Act, which allow individuals to make penalty-free withdrawals from certain retirement plans for coronavirus-related expenses. Such plans cover less than one-fifth of private industry workers,…

SSRA Clears Ways & Means; Hope Springs Eternal for Full Vote

Not long ago, I wrote a blog entitled, “The SSRA: What’s Not to Like?” Now that it is wending its way through the Congressional approval process, my answer remains the same: There is very little not to like. The Securing a Strong Retirement Act (SSRA)…

Not So PEPpy? Think Group of Plans

Despite predictions by some that 2021 would begin with an explosion of Pooled Employer Plans (PEPs) as a result of the passage of the SECURE Act (Setting Every Community Up for Retirement Enhancement), that does not seem to be the case, so far. Certainly there…