DOL Updates Guidance on Auditor Independence for Retirement Plan Engagements In September, the U.S. Department of Labor (DOL) released an Interpretive Bulletin that updates guidance on audits of benefit plans under the Employee Retirement Income Security Act. The...
Cybersecurity Must Be a Priority for Plan Fiduciaries Most 401(k) plans have access to a large pool of funds, making them an attractive target for cybertheft. And while stolen funds are devastating, unauthorized transactions aren’t the only goal of cybercriminals....
How to Design a Differentiating Benefits Package Over the past couple of years, the so-called “Great Resignation” has led to an unprecedented number of career changes. At the same time, the boom in remote and gig work means that skilled employees have more choices...
Keeping Retirees in Your Retirement Plan According to T. Rowe Price, some sponsors may anticipate that their relationship with participants — as well as their responsibilities toward them — will naturally wind down at retirement, even though only about one in five...
Safe Harbor Options 401(k) plans are intended to provide comparable advantages for all employees, and there are numerous safeguards in place to make sure their benefits are allocated equitably. U.S. regulatory measures ensure that a company’s plan does not...
Behavioral Finance and Plan Design: Four Ways to Boost Participation Though many employees are aware that behaviors such as enrolling in and contributing sufficiently to their company 401(k) can help them prepare for a successful retirement, too often they fail to...
Why Retirement Plan Sponsors Should Care About Employee Student Loan Debt According to the College Board, the cost of a four-year education increased more than 200% (after inflation) from 1988 to 2018. This has placed a tremendous burden on graduates, with national...
The Risk of 401(k) Lawsuits: If It Can Happen to Them… When a giant organization with extensive resources gets sued for alleged ERISA compliance failures — especially if the organization’s own service offerings include reviewing for such violations — that could very...
Survey Says… What’s Your Take on Financial Wellness Programs? A recent comprehensive TIAA survey of financial wellness plan participant perceptions may be helpful to plan sponsors who have, or are considering implementing, a wellness plan for their employees....
DOL Updates Guidance on Auditor Independence for Retirement Plan Engagements In September, the U.S. Department of Labor (DOL) released an Interpretive Bulletin that updates guidance on audits of benefit plans under the Employee Retirement Income Security Act. The...
The holidays are upon us! Staying healthy just might make you wealthy. With small lifestyle changes and healthy choices (especially with all the shared yummy foods), you may reduce your annual healthcare costs and increase your income. These lifestyle changes can be...
Retirement Plan Limits IRS Limits on Retirement Benefits and Compensation As published in IRS News Release IR-2022-188, Oct. 21, 2022 202320222021401(k), 403(b), 457 Elective Deferral Limit$22,500$20,500$19,500Catch-Up Contribution Limit (age 50 and...