Decisions for 401(k) plan sponsors with company stock on their investment menus are different than those for sponsors of true ESOPs.
Extra measures need to be taken for HR and benefits staff working from home to keep employee and retirement plan data secure.
‘Companies tend to use the terms interchangeably, which is why it can be confusing,’ says Lorie Maring, a partner at Fisher Phillips.
Plan sponsors need to understand the details and ask themselves certain questions to make sure they are complying with the new law.
Stopping employer matching contributions, laying off employees, adjusting DB plan contributions; plan sponsors need to understand the effects of each decision.
Allowing a cure period for plan loans may help preserve participants’ retirement savings and meet plan sponsors’ fiduciary responsibilities.
Contributions to large pension plans plunged in 2019, nearly matching their lowest point in the past 15 years, according to Russell Investments.
What happened to interest rates is just as important as what happened to equity markets, and DB plan sponsors should implement portfolios that manage both.
However, if plan sponsors choose to offer company stock, there are efforts they can take to mitigate a litigation or participant outcomes meltdown.
K-12 and university 403(b) plan sponsors have turned to multiemployer plan solutions—the latest of which is launching in Indiana.
It often comes down to nondiscrimination testing.
Plans with the greatest exposure to equities will generally see the largest funded status declines, according to River and Mercantile.