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For the third year in a row, respondents to the annual Callan Institute “Defined Contribution (DC) Trends Survey” specified reviewing their plan fees as a key area of focus and as the best way to improve their fiduciary position as plan sponsors.
by Lisa Higgins, Contributing Editor If you do not already offer automatic enrollment in your defined contribution plan, you might want to consider doing so. Such a move is likely to increase participation in retirement saving and may be particularly beneficial for young workers, an expert says. Here’s why.
By Jane Meacham While acknowledging that maintaining traditional defined benefit (DB) pensions has become either too expensive or too burdensome, several Fortune 500 company retirement plan sponsors would like to replicate for their defined contribution (DC) plans some of the efficiencies from their DB plans, according to a new survey report from BNY Mellon.
New research from the LIMRA Secure Retirement Institute reveals that workers from for-profit and not-for-profit organizations will save only enough in their defined contribution (DC) plans to receive the full company match.
When it comes to retirement planning, the options can sometimes seem overwhelming. Individuals may be able to participate in employer-sponsored plans, and they may also have their own separate retirement savings. Today and tomorrow, business consultant and HR Daily Advisor contributor Bridget Miller provides the basics on the various retirement benefit plans that employers may […]
Qualifying lifetime annuity contracts in July 2014 became another option for defined contribution plan sponsors to offer to assist with retirement income security when the U.S. Treasury Department and IRS issued final regulations allowing them. Now, plan sponsors and participants near retirement age face some confusing choices when considering whether QLACs are right for their […]
A recent appeals court ruling may increase plan sponsors’ confidence about including and holding company stock in their retirement plans — especially those in the financial services industry. In White v. Marshall & Ilsley No. 11-2660, (7th Cir., April 19, 2013), the presumption-of-prudence defense again was upheld when retirement-plan participant plaintiffs appealed a 2011 district-court ruling, […]
Employers could use auto-escalation as a way to encourage 401(k) participants to increase their contributions and reduce the number of employees missing out on matching contributions from the plan sponsor. That’s the finding by WorldatWork and the American Benefits Institute, which said that nearly a third of U.S. retirement plan sponsors they surveyed think more […]
Forty years ago, very few U.S. employees were personally affected by what happened on Wall Street. Six in 10 Americans were covered by a pension that they could count on regardless of the stock market. Today less than 2 in 10 workers in the private sector have a pension and most workers only option is […]
President Bush has signed the Pension Protection Act of 2006 into law, which overhauls pension funding rules, clarifies cash balance plan rules, encourages automatic enrollment in 401(k) plans, and much more. The law spans a massive 907 pages, and we describe some of its key provisions here.