Plan Progress Webinar Series: Provider Due Diligence
The dos and don’ts of selecting new service providers, from conducting RFPs to avoiding ‘mission creep,’ according to a panel of experts.
Latest News
DOL Sues Missouri Bankers Benefit Plan
The Department of Labor has alleged one fiduciary breach against the plan’s trustees for operating with negative assets in six of the last seven years.
Without Lifetime Income Solutions, Participants Tend to Withdraw Too Much
Incorporating insurance into participants’ asset allocation may improve sustainable withdrawal rates by 70% or more, according to research from AllianceBernstein.
Retirement Industry People Moves
CoastalOne appoints Keefe as CEO; WTW appoints Luke to lead global investments business; Calamos Wealth Management adds two senior executives; and more.
Lawsuit Targets California Medical Center 403(b) Plan
A former employee of Cedars-Sinai Medical Center alleges onerous plan fees and under-performing funds.
EBSA Says It Will Propose Fiduciary Rule in August
The regulatory agenda contained several other items, such as the 401(k) lost and found, emergency savings sidecars and pooled employer plans.
Benefits |
Employers, Participants Show Increased Focus on Mental Health Benefits
Many employees are investing in mental health care and value employers who offer mental health benefits.
NFP Promotes Keeling to Retirement Division CIO
The move comes under the leadership of new president Joel Shapiro, who was appointed last month.
Products |
Investment Product and Service Launches
Aptus Capital Advisors Launches New Enhanced Yield ETF; MetLife and Lyra Health Expand Workplace Mental Health Access; Alight Expands Global Employee Benefits Solution.
Benefits |
Participation Rates in 401(k) Plans Reach All-Time High
Plan sponsors have driven plan participation in the last 15 years to a record high in 2022, Vanguard reports.
Lawsuit Targets SaveATree Subsidiary ESOP, Trustees
The Arborwell Inc. employee stock ownership program began in 2017, but the plaintiffs allege the ESOP’s 2020 sale to CI Quercus was for less than market value.
Emergency Savings Serve as Buffer To Protect Retirement Assets
For low-income households, having at least $1,000 in emergency savings can prevent them taking hardship withdrawals from their retirement savings, according to new BlackRock research.
ERISA Lawsuit Against Advance Publications Dismissed, Pending Amended Complaint
A federal judge dismissed all counts in the suit brought by a former 401(k) plan participant, but the plaintiff may submit a second amended complaint by June 27.
High-Income Households More Likely to Overestimate Retirement Readiness
More than 25% of U.S. households think they are on track to maintain their standard of living in retirement, but many are at risk of falling short, according...
TIAA Creates Lifetime Income Distribution Position
TIAA promoted internally to a new position, reporting to the head of consultant relations, according to a June 13 memo.
US Pension Funded Status Continues to Improve in May
A drop in liabilities outweighed poor asset performance in May, causing funded status to modestly increase, according to firms’ analysis.
More Annuities Could Be Permitted as 401(k) Default if New Bill Passes
Current liquidity rules make it difficult to use an annuity as a QDIA, but new legislation would make it easier to use certain annuities as QDIAs.
Plan Sponsors Prepare: Health Care Regs Going the Way of 401(k)s
Health care regulation enacted in 2021 is coming to the fore, as deadlines loom and litigation appears to be ramping up.
Legal Complaint Targets Pfizer 401(k) Plan Committee, Board
The class action proposal seeks to recover retirement plan losses allegedly caused by fiduciary breaches leading to ‘unreasonable’ fees.
Retirement Plan Access Deficit Could Cost Fed, States $1.3 Trillion
The lack of access for private sector workers to a retirement savings plan is likely to cost the federal government more than $1 trillion, study finds.