Administration

Rather than focusing on literacy and word-for-word translations, retirement plan sponsors may want to pay more attention to context and cultural needs.

Public plans that reduce their return assumption in the face of diminished near-term projections will experience an immediate increase in unfunded liabilities and required costs, according to NASRA.

Until DC plans embrace annuities, participants need more education and a healthier lifestyle.

Employees with a more favorable self-rating of their financial knowledge were more likely to use financial wellness tools given to them by their employers.

Whether good market returns in January helped pension plans’ funded status depends on who you ask.

People are more likely to agree with their spouse or partner on daily expenses than on retirement savings, a survey finds.

Financial wellness providers fear that employee credit cards, purchasing programs and other such offerings will harm the progress being made to help employees become financially well.

Increase in recordkeeper search activity, movement to institutional fund structures, de-emphasizing revenue sharing and adoption of fee policy statements were found in a survey of DC plan sponsors.

Members of the Cleveland Iron Workers Local 17 Pension Fund voted by a 2 to 1 margin to approve the cuts.

A 2016 ERISA Advisory Council report includes an appendix titled “Employee Benefit Plans:  Considerations for Navigating Cybersecurity Risks.”

The ERISA Advisory Council recognized in a report that there are several potential solutions to promote plan-to-plan transfers and retirement account consolidation.

What the DOL and IRS want to know about your retirement plan

The numbers are virtually unchanged compared to data for the previous 12-month period, Segal Consulting finds.

Lowering costs, reducing return assumptions and experiencing healthy returns is putting a positive spin on public retirement plans’ future.

Milliman forecasts both scenarios.

Plan sponsors are more concerned with operating their plans and avoiding potential liabilities, while plan advisers are more focused on participant outcomes, a survey suggests.

Several firms note that the year-end market rally helped reverse a downward trend for pension funding in 2016.

According to the 2016 PLANSPONSOR Defined Contribution (DC) survey, 27.2% of 403(b) plans offer in-plan income products that guarantee monthly income, compared to 7.3% of DC plans overall.

Retirement savings models often simplify a defined contribution plan participant’s situation, and plan sponsors need to help participants understand that the picture is more complex.

More employers are also addressing financial wellness beyond retirement to produce a healthier, happier and more productive workforce.