…the defined benefit plans of the employees of the Federal Home Loan Banks. Today we have over 1,400 institutional relationships that involve, in most cases, the complete outsourcing of our clients’ DB or DC plans. So what really is new since 2008? We believe that…
…fiduciary rules under the Employee Retirement Income Security Act of 1974 (ERISA) if certain requirements are met. Those rules include a requirement that assets are invested “in an investment product designed to preserve principal and provide a reasonable rate of return.” These are called “Safe…
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,…
Every retirement plan design begins with a study of a company’s payroll. It’s the essential information that drives thinking around how to optimize tax and savings potential for both business owners and their employees. Once a plan is installed, we rely on payroll data to…
…been a game-changer; SECURE benefits both employers and employees by providing administrative relief along with expanded retirement plan coverage and increased savings opportunities to improve retirement security. We have a full menu of coverage of SECURE here; I would re-emphasize that mandatory plan amendments to…
…for small businesses to offer retirement plans; give individuals aged 60 and older more flexibility to set aside savings as they approach retirement; and create a national online database of lost retirement accounts, making it easier for employees to find those accounts. (More about SSRA…
…responsibility to a dependable, proven company can free up time and help protect both plan sponsors and their organizations from litigation. Keep in mind other sources of retirement income. Besides 401(k) plans and IRAs, defined benefit (pension) plans, employee stock-ownership plans, and of course Social…
…that would end up costing Treasury led to its ouster. Also dropped was a provision that would have expanded Internal Revenue Code Section 1042 to include sales of employer stock to S corporation employee stock ownership plans (ESOPs), with the idea reportedly to be revisited…
…years. Even so, there had been some uncertainty over the how’s and why’s of completing Forms 5500 for the 2020 plan year. Form 5500, which must be filed electronically along with the appropriate schedules and attachments, is required for most employee benefit plans with 100…
…wrote that “recent statements by the CEOs of BlackRock and State Street Global Advisors (SSGA) indicate they are using their control of proxy votes for federal employees’ Thrift Savings Plan (“the Plan”) investments to pressure other companies to adhere to their own environmental and social…
…now to prepare for these rising healthcare costs in retirement: Utilize A Health Savings Account (HSA) An HSA is only available in conjunction with a high-deductible health plan. If your company offers an HSA program, now may be a good time to remind employees of…
…of participant awareness of retirement income and the industry better prepare for a strong reaction. The SECURE Act of 2019 amended the Employee Retirement Income Security Act of 1974 (ERISA) to require 401(k) and other DC plans to include “lifetime income illustrations” or LIIs in…