Higher Participation Measured, Including in Roth Accounts
The steady increase in the use of the Roth 401(k) option comes as overall qualified plan participation continues to increase.
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Transamerica Expands Benefits Offering With Health Savings, Spending Accounts
The offerings include an HSA, HRA and FSA.
Digital Ruling in John Hancock ERISA Suit Reflects the Times
A judge has denied John Hancock’s motion to dismiss the self-dealing lawsuit but did not submit a written order.
Benefits |
Social Security Burdens Fall on Younger Workers
As unemployment rises and employees retire sooner, experts say Social Security will be exhausted faster than predicted.
Different Views About Retirement Plans Shaped COVID-19 Responses Globally
The U.S. can learn from other countries about instilling the mindset of preserving retirement savings and creating different pools of assets to be dipped into in case of...
Plan Sponsors Should Focus on Life Events Rather Than Generations in Communications
Employees in a survey from Empower Retirement say they believe their views are created by personal experiences and characteristics, not by their age group.
Retirement Industry People Moves
Tech and client services head joins ICMA-RC; OneDigital acquires employee benefits consulting firm; New York Life elects president; and more.
Bill Would Allow COVID-19 Catch-Up Contributions
The proposal would allow catch-up contributions in 2021 and 2022 equal to the difference between an individual’s actual contributions and current federal limits on these accounts.
Sutter Health Facing 403(b) Excessive Fee Suit
The allegations mirror those of other recently filed cases against both 401(k) and 403(b) plans.
Products |
Investment Product and Service Launches
Lincoln Financial Group releases new guaranteed lifetime income option; MUFG adds Broadridge loan tracker; and USI Advisors adds Investment Metrics portfolio solution.
State Unclaimed Property Programs May Help Find Missing Participants
The ERISA Advisory Council is asking the DOL to issue guidance on plan sponsor use of these programs which reunite people with unclaimed property as often as 72%...
Benefits |
Phased Retirement Programs Offer Perks for Employees and Employers
A phased retirement program can help employers address workforce issues and help employees make a smooth transition, and it should include education and advice.
Minnesota Engineering Firm Files 401(k) Lawsuit Against Matrix Trust Co.
The lawsuit accuses Matrix of unlawfully retaining fees and interest through nondisclosure and concealment.
Court Finds Nonprofit Still Owes Money to Kentucky Retirement System
A nonprofit was allowed to file for bankruptcy and exit the Kentucky Retirement System, but a federal court has ruled it still owed contributions while bankruptcy proceedings were...
IRS Updates Operational Compliance List for 2020
Items effective in 2020 include several provisions of the SECURE Act.
Pandemic Causing Older Workers to Leave Workforce Earlier Than Planned
Many workers near retirement age who may be worried about COVID-19 are turning to early retirement, but doing so comes at a cost.
Increase in Financial Wellness Programs Linked to Pandemic Concerns
As workers figure out how COVID-19 will impact their finances, more plan sponsors are adding and growing financial well-being incentives.
Doll Foresees Deepest Recession Since World War II
But the chief equity strategist at Nuveen expects it to be short-lived.
Koch Industries Charged With Excessive Recordkeeping Fees
The plaintiffs suggest the firm’s fiduciary failures were either from lack of a prudent process or from interest in getting discounts from the recordkeeper on other services.
Frozen DB Plans Still Require Much Attention
There is nearly as much work to do when a DB plan is frozen as when it’s open, and ignoring it could come at great cost.