When conducting a service provider request for proposals (RFP), being specific can help ensure plan and participant needs are met, as well as compliance with fiduciary duties.
Firms that monitor DB plan funded status say it is uncertain whether Congress will offer additional funding relief; many plans will likely face lower funded status in 2020.
Participants invested in annuity contracts may face charges for distributions and limits on amounts they can take as a distribution or loan that they may not be aware...
Strategies regarding timing and recording of pension contributions translate to millions of dollars in lower PBGC premiums, according to a report from October Three.
Plan sponsors can create new communications to engage participants with their retirement and health benefit plans that take into consideration special circumstances caused by the COVID-19 pandemic.
The pandemic has highlighted the need for plan sponsors to actively encourage revised beneficiary designations and have missing participant procedures in place.
The pandemic may put a wrench in some participants’ plans to retire, but others may be more prepared than they think. How can plan sponsors help them decide?
Markets are rebounding, but discount rates used to measure liabilities are falling, and pension consultants wonder if pending legislation will provide funding relief for plan sponsors.
Experts expect the market volatility will continue for an unknown amount of time, so DB plan sponsors must be flexible and find new directions depending on the goals...
Nontraditional retirement plan providers suggest plan design will be more driven by behavioral finance and participant communications and advice will evolve.