Compliance

PBGC Fiscal Year 2018 Report Highlights

The pension insurance organization says the financial condition of both its single employer and multiemployer insurance programs have improved, but the latter program is still projected to be insolvent by 2025.

New Risk Assessment Required for DB Plans

ASOP 51 requires actuaries performing valuations for defined benefit plans to identify risks that, in the actuary’s professional judgment, may reasonably be anticipated to significantly affect the plan’s future financial condition, and Eric Keener, with Aon, says this may help plan sponsors avoid adverse actions.

DOL Clarifies Fiduciary Roles in Auto-Portability Solution

The agency says plan sponsors have fiduciary responsibility for selecting and monitoring Retirement Clearinghouse’s Auto-Portability Solution, but once assets have been transferred from a plan sponsor’s retirement plan, it is no longer a fiduciary with respect to those assets.

401(k) Reaches the Big 40

At an event marking the milestone for the 401(k), attendees were very optimistic about the future opportunities for the plan and surrounding industry.

 

Jackson National Agrees to Settle Self-Dealing Suit

The lawsuit alleged that the company selected high-cost proprietary investment products offered and managed by Jackson National and its affiliates on the plan’s menu of investment options, allowing it to maximize profits.