Paycheck Protection Program Covers Retirement Plan Contributions
The Treasury Department makes clear that the PPP offers help with employer contributions to retirement plans and toward health benefits for employees.
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MassMutual Offers CARES Act Provisions to Retirement Plan Clients
Plan sponsors can ‘opt-in’ to offer the provisions to participants.
Retirement Industry People Moves
Mercer adds health and benefits consultant in California office, and Ascensus names retirement plan VP for western division.
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Investment Product and Service Launches
BNY Mellon expands investment lineup with ETFs, and American Century launches actively managed ETFs.
DB Plans Fall Victim to the Coronavirus
Firms that track DB plan funded status offer considerations for plan sponsors and note that how sponsors position themselves will determine future costs and contributions.
Talking Points to Help Participants Navigate Market Volatility
Certain concepts should be communicated clearly to retirement plan participants so they don’t make decisions that may hurt their retirement readiness.
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OneAmerica Forgives Hardship Withdrawal Fees
The recordkeeper is making the move in response to the CARES Act.
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Securian Removes COVID-19 and Hardship Withdrawal Fees
The firm is also offering free fiduciary and wellness services.
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Nationwide Joins List of Providers Offering CARES Act-Related Help to Participants
The retirement plan provider is waiving fees and accelerating transaction processing for those taking withdrawals or loans related to the COVID-19 pandemic.
Parties in JPMorgan Self-Dealing Suit Reach Settlement
The lawsuit alleged plan fiduciaries acted for their own benefit by forcing participants to choose among costly investments managed by JPMorgan and BlackRock.
Few Plan Sponsors Planning Retirement Benefit Cuts Right Now
Experts say firms are focused on making sure their business survives, hopeful that the economy will bounce back when the coronavirus is eradicated.
Monitoring DC Plans’ Company Stock Investments During Market Volatility
Decisions for 401(k) plan sponsors with company stock on their investment menus are different than those for sponsors of true ESOPs.
Ensuring Cybersecurity in a Remote Work Environment
Extra measures need to be taken for HR and benefits staff working from home to keep employee and retirement plan data secure.
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Transamerica Takes Steps to Help Plan Sponsors, Participants During Coronavirus
The retirement plan provider is waiving certain fees and has established a dedicated team to support participants in their decision making.
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John Hancock Announces New COVID-19 Fee Policies
The firm is waiving fees related to participant hardship withdrawals and suspending fees for plan amendments made in response to the pandemic.
Appellate Court Says Mercy Health’s Pension Plan Is a Church Plan
However, the case was sent back to a federal district court to determine whether ERISA’s church-plan exemption violates the Establishment Clause.
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Mercer Offers Cost Projection Framework for Employers With Self-Funded Health Benefits
Only 5% of employers with self-funded health insurance already have a financial impact assumption, while 21% say they have begun modelling it, according to Mercer.
Communicating with Employees During COVID-19
Sources suggest topics to address with retirement plan participants and methods to do so in this environment of limited face-to-face contact.
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Principal the Latest Provider to Waive Retirement Plan Transaction Fees
It is also waiving plan sponsors’ fees for certain retirement plan amendments and halting rate increases for group benefits.
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Suggestions for Making Holders of HSAs Into Investors
A study suggests HSA holders invest as they become more educated or as their account balances grow.