Search Results

We have found 150 results matching your search query.

Anchoring and Your Retirement Savings Strategy

…auto escalation of contributions and target date or managed funds—all of which can make saving simpler for participants and help them potentially avoid psychological pitfalls such as anchoring that can sabotage sound investment practices. One other key to a good savings and investment strategy is…

Retaining Plan Records

and disclosure requirements Establish and implement adequate records management practices including, but not limited to, following procedures for labeling of electronic records and saving backup electronic copies Generally, paper records can be disposed of any time after being transferred to a compliant electronic record system….

Check Fiduciary Liability Coverage

…plan fiduciaries in the event of a breach of fiduciary duty. These policies typically cover settlements or judgments. Wrongful acts that may be covered by fiduciary liability insurance include: Negligent investment practices Failure to diversify investments Failure to file required reports Conflicts of interest Errors…

Cross Tested Plans

…of an organization. WHAT TYPES OF BUSINESSES BENEFIT FROM A CROSS TESTED PLAN? Generally smaller employers with stable workforces are good candidates for a Cross Tested plan. These types of plans are typically well-suited for small businesses and professional practices. CAN A CROSS TESTED PROVISION…

DOL: Tread Carefully When It Comes to ESG Investing

…the ESG banner are such factors as a company’s climate change policies, carbon footprint, recycling strategies, ethical supply chain sourcing, diversity and inclusion practices in hiring and its board of directors/management team, and transparency in shareholder communications. There are no big surprises in the DOL’s…

A Different Kind of GoP

…eligible for consolidated filing, plans must: Consist of defined contribution plans Have the same Trustee Have the same Named Fiduciary/Fiduciaries Have the same Administrator Use the same plan year Provide the same investments or investment options to participants and beneficiaries Even so, GoPs will likely…

Danger: Don’t Touch

…whether this option is available to you. Your other choice will be to “roll over” your retirement money into your new employer’s retirement plan or an individual retirement account (IRA). If you arrange for a direct trustee-to-trustee transfer, the plan administrator will move the money…

Can Pension Plans Help the Economy?

…market volatility. Table 1: US Total Retirement Market, 2000-2016 Trillions of dollars, end-of-period, selected periods *Estimated. Components may not add to the total because of rounding. Sources: Investment Company Institute, Federal Reserve Board, Department of Labor, National Association of Government Defined Contribution Administrators, American Council…

A To-Do List for Retirement Planning This Year

…issued an interim rule that will require plan administrators to issue annual statements to participants illustrating how much income they can expect from their ERISA-governed retirement account, as a single life annuity, as well as via a qualified joint and survivor annuity that includes a…

The DOL GoP Gap

…as they have the same trustee, named fiduciary(-ies), administrator, plan year and investment options. In theory, the appeal of GoPs is that a group of employers (unrelated or related) can keep their own plans and combine to gain economies of scale by collectively negotiating better…

After Tax Contribution Considerations

…after-tax contributions are amounts that a plan participant elects to set aside from his or her pay after the payroll department withholds taxes. The plan administrator deposits the after-tax contributions in a separate account within the 401(k) plan, where the amounts have the potential to…