PennSERS Drops 12% in 2022
The pension fund lost $6.5 billion in asset value over the last year, ending a three-year streak of double-digit gains.
Latest News
Retirement Industry People Moves
Wagner Law names new Chicago-based ERISA attorney; Franklin Templeton appoints senior alternatives strategist; WTW names director of retirement; and more.
Benefits |
How Plan Sponsors Can Best Communicate With Participants
Experts suggest plan sponsors use direct and personalized messaging when communicating about benefits.
Senators Brown and Collins Re-Introduce Social Security Fairness Act
The bill, if passed, would repeal reductions in Social Security benefits paid to certain public pensioners.
Principal Integrates Businesses With Renewed Focus on Retirement
Owais Rana was promoted to head of investment solutions for Principal Asset Management, which is merging previously separate businesses.
Products |
Investment Product and Service Launches
Alight’s expanded wellness programs allows employees’ families to join; ComplySci launches regulatory compliance guide for financial firms; Equitable adds volatility protection; and more.
Institutional Investors Add Active Allocations to Start 2023
Asset flows data for early this year shows institutional investors bucking 2022 trends.
IRS Offers New Rules on Deadline for Using Retirement Forfeitures
The proposal states that plan administrators need to use retirement plan forfeitures within 12 months.
Senate Follows House in Rejecting DOL ESG Rule
A resolution to nullify the rule to allow for ESG factors in retirement plan investments will now go to Biden’s desk, where he has promised a veto.
Defined Benefit Plans Posted Worst Performance Since 2008 Crisis Last Year
But performance for defined benefit plans did rebound in Q4, according to a new report.
Benefits |
Employers Increase Focus on Financial Well-Being, but Study Reveals Gaps
A recent study shows that while employees are most worried about day-to-day expenses, companies are prioritizing long-term retirement benefits.
Benefits |
Defined Benefit Plans Live On as Older, Wise Neighbors, Where DC Plans Can Borrow Ideas
A plan sponsor, academics and pension benefit expert agree that defined benefit plans are largely on the way out, yet optimal pension features should survive.
Benefits |
Cash Balance Plans Gain in Popularity
Combining features of DB and DC plans, these hybrids especially appeal to small and midsize businesses.
Benefits |
End Of The Road For Defined Benefit Plans? Not Quite
While the vast majority of DB plans are frozen, plan sponsors are keeping all options on the table for participants.
House Votes to Overturn Rule Allowing ESG Investing in Retirement Plans
The resolution next moves to the Democratic-majority Senate.
Julie Su Nominated to Replace Walsh at DOL
Biden tapped the deputy secretary of labor to take over as head of the DOL, with a Senate confirmation hearing to come.
Assistant Secretary Gomez Explains Upcoming EBSA Priorities
Effective disclosure, SECURE 2.0 and ESG are at the top of EBSA’s short-term agenda, according to EBSA Head Lisa Gomez.
IRI Priorities for 2023 Include Focus On Lifetime Income
The insured Retirement Institute wants regulatory and legislative changes in order to drive greater in-plan use of guaranteed lifetime income products.
CITs and Lower-Cost Funds Drive Down 401(k) Plan Fees
Investment fees paid by retirement plan participants continued to trend down, in 2022.
SS&C Hires Nelson From Tata Consultancy as Retirement Business COO
SS&C Technologies is plotting bolstered technology for retirement plans and asset managers to provide greater technology and financial wellness capability.