DB Plan Funded Status Rebounds in January
Stronger equity markets pushed pension funding up 2% to 3%, according to firms that monitor defined benefit plan funded status, but plan sponsors should continue to watch market...
Administration
Attention to Retirement Plan Digital Communications Increasingly Important
A paper authored by Shlomo Benartzi, senior academic adviser at the Voya Behavioral Finance Institute for Innovation, promotes the idea of a “digital fiduciary,” and Andrew Way, with...
Lockheed Martin Transfers $2.6 Billion in Pension Obligations
The company announced one annuity buy-out transaction and one annuity buy-in transaction.
Updating Loan Policies to Discourage Participants from Taking Plan Loans
Changes to maximum loan amounts and number of loans, as well as the imposition of fees and higher interest rates on loans can be written into loan policy...
DC Plan Sponsors Increasing Focus on Fees
Callan’s 2019 Defined Contribution (DC) Trends Survey finds more plan sponsors have conducted fee benchmarking, there’s a shift in who is paying fees and trends regarding revenue sharing...
Effective Retirement Plan Communications Are Understandable and Accessible
A survey from the Empower Institute reveals retirement industry terms employees prefer, what they want communications look like, and how they prefer to receive them.
2018 Pension Funded Status Gains Erased in December
Consultants say market losses for U.S. pension plans in December were the worst in a decade.
403(b) Plans Improving Governance Practices
Even among 403(b) plans not governed by ERISA, PLANSPONSOR DC Survey results show improvement in certain governance practices.
Fourth Quarter Returns Derail Better Year for Pension Funded Status
While the pension deficit for the Fortune 1000 plans Willis Towers Watson tracks is projected to be only slightly lower than the deficit at the end of 2017,...
Evaluating Financial Wellness in 2018
A review of how financial wellness has increased in the past year, and clues on what to expect in 2019.
Progressive Sponsors Will Push Custom Designs, Fee Transparency in 2019
Year-end conversations with recordkeepers suggest plan sponsors are highly focused on improving fee transparency, exploring custom default solutions and strengthening fiduciary processes.
Cash Balance Plans Need Different Administration Systems Than Traditional DB Plans
The characteristics of cash balance plans that are similar to defined contribution plans create a need for different technology than traditional defined benefit plans.
Mercer Sets Goals for DC Plans for the Coming Year
They are centered around three key themes: 1) Secure your foundation, 2) Achieve greater prosperity and 3) Inspire confidence.
Mercer Encourages DB Sponsors to Act on Funded Status Improvements
Mercer recommends 10 areas of focus for defined benefit plans in 2019.
Yale Changes 403(b) Plan Investment Options
A university spokesperson told Yale News that the changes to the retirement plan were not in response to ongoing litigation.
DB Plan Glide Paths Should Be Dynamic
When a glide path is established, it needs to be revisited at least once a year to ensure that the goals for the pension plan are achievable.
Employers Struggling to Understand Retirement Patterns of Employees
Most organizations appear to underestimate the financial challenges facing older workers, and thus the likely timing of retirements, Willis Towers Watson says.
Participant Behaviors Can Inform Better Plan Design
J.P. Morgan makes recommendations for plan design and TDFs based on savings and withdrawal behaviors it analyzed.
Financial Professionals Improve Retirement Results for K-12 Educators
The median account balance for K-12 educators surveyed who work with a financial professional is $40,000 versus $21,000 for those who do not work with a financial professional,...
Market Volatility Didn’t Bring Down DB Plan Funded Status in November
Firms that monitor defined benefit (DB) plan funded status reported slight gains for the month.