Is Your Retirement Plan "Catchy?" By offering — and encouraging — catch-up contributions, plan sponsors can demonstrate a heightened commitment to employee retirement readiness. Over a five-year period ending in 2020, nearly 15% of participants utilized catch-up...
Your Plan Fiduciary Must-Do and Should-Do Lists When you’re a plan fiduciary, you are, of course, prioritizing what ERISA law requires of you. You have a checklist of Must-Dos. But there is also a list of things that you can do proactively that will keep the plan—and...
The Retirement Reshuffle Is Impacting Plan Sponsors Across the nation, more and more workers are expecting to postpone retirement. In fact, a survey by the Nationwide Retirement Institute shows that 40% of older employees plan to retire later than anticipated because...
Offboarding Employees from Your 401(k) Plan A full two-thirds of employees don’t receive guidance on managing their retirement plan benefit while offboarding. Leaving 401(k) or 403(b) balances behind can result in orphaned accounts that sit unmonitored and unmanaged...
IPS Can Still Add Value for Plans Despite Goldman Sachs Dismissal Investment policy statements (IPSs) are commonplace among retirement plans — with around 83% providing one. And that number tends to be even higher among bigger plans. Financial powerhouse Goldman Sachs...
How to End the Year on Bright Note December brings with it an expectation of cheer, hope and festivities. What your employees do not expect (and, frankly, don’t want) are grumpy nudges about enrollment. With the anxiety of the pandemic and lockdowns close behind us,...
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...
Is Your Retirement Plan "Catchy?" By offering — and encouraging — catch-up contributions, plan sponsors can demonstrate a heightened commitment to employee retirement readiness. Over a five-year period ending in 2020, nearly 15% of participants utilized catch-up...
You can reduce the risk of fraud and loss to your retirement account by following these basic rules: REGISTER, SET UP AND ROUTINELY MONITOR YOUR ONLINE ACCOUNTMaintaining online access to your retirement account allows you to protect and manage your...
Your Plan Fiduciary Must-Do and Should-Do Lists When you’re a plan fiduciary, you are, of course, prioritizing what ERISA law requires of you. You have a checklist of Must-Dos. But there is also a list of things that you can do proactively that will keep the plan—and...