Helping Participants Understand Tax Considerations for Retirement Plans
Understanding all the tax implications of qualified retirement plans can be daunting, but there are a few key things participants should know.
Administration
Ways to Combat Pervasive Leakage
The Savings Preservation Working Group says that at least 33% and as many as 47% of plan participants withdraw part or all of their retirement savings when switching...
The Case for E-Delivery of Retirement Plan Notifications
Why some participants prefer paper copies, and how employers can encourage them to make the switch.
Evolving Best Practices: Recordkeeping Fees
Per participant or asset-based? Each approach has its merits, but is one preferable under the Employee Retirement Income Security Act’s strict fiduciary standards?
Rollover Rules Between Different Plan Types
Retirement plan sponsors need to understand IRS rules for rollovers and what they should consider before accepting one.
Owens Corning Transfers Some Pension Liabilities
The company cited a decrease in risks and costs as benefits of purchasing the annuity.
Undocumented Workers Become a Missing Participant Problem
Nothing in ERISA says an undocumented worker cannot participate in a retirement plan, but making a distribution to one could be a problem.
Reducing the Risk of ESOP Investigations and Litigation
An NCEO report provides details about DOL investigations and litigation against ESOPs and provides considerations for ESOP valuations.
Mechanics of Implementing a Sidecar Savings Account
Keeping retirement plan contributions rolling in while also allowing employees to save for emergencies.
Breaking Free From Interest Rate Bind on DB Funding
The long-running low interest rate environment has created DB plan funding challenges, but plan sponsors can take steps to mitigate them.
States Have Made Progress in Partly Mitigating Funding Risk
An S&P Global Ratings report says states’ policy decisions, not market volatility, are likely the greatest future financial risk.
Increase in Interest Rates Gives DB Plans a Boost in September
Jessica Hart, with Northern Trust Asset Management, notes, “Even though the Fed cut rates by 25 bps, the average liability discount rate climbed by 13 bps. This highlights...
Multiemployer Plans Still Applying for Benefit Reductions
Even as lawmakers are scrambling to find a solution to the multiemployer pension crisis, the trustees of the Detroit Carpenters’ Pension Plan recently submitted a Pension Recovery Program...
Could GE Have Continued Its DB Benefits?
GE is freezing pension plans and offering a lump-sum window to certain former employees, but John Lowell, with October Three, questions whether a design-based solution would have helped...
Improving a Retirement Plan Committee Through Diversity
Today’s workforces are becoming more diverse both generationally and culturally, and retirement plan committees should match this trend to add unique perspectives to plan decisions.
Lower Asset Growth Hampers State and Local Pension Outlook
While liability growth has declined in the past two decades, asset growth has been even slower.
Social Security Education a Must-Have for Retirement Plan Participants
General education is helpful, but getting personal will help employees establish a plan for income in retirement.
Natural Disasters Damage Retirement Accounts, Too
What options do participants have when a natural disaster affects them, and are there steps plan sponsors can take to reduce the impact on retirement savings?
Teaching Employees Skills and Practices for Retirement Confidence
Unfortunately, there are no do-overs in life, but there are ways to help employees feel confidence about their financial futures going forward.
Plan Sponsors Recognizing Need for Decumulation Choices
A new survey from Alight Solutions indicates more employers are expanding distribution options in their DC retirement plans to help employees with draw down strategies in retirement.