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Simplified Form 5500 Compliance Reporting Launched by ADP
This development marks the second phase of its compliance dashboard enhancement effort.
Latest News
Vanguard Transfers Recordkeeping Operations to Infosys
Through a strategic partnership, Infosys and Vanguard will provide a cloud-based recordkeeping platform, with planned enhancements for plan sponsors and participants.
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Alight to Offer Auto-Portability Solution to DC Plan Clients
Retirement Clearinghouse says it hopes other recordkeepers will adopt its product to help reduce the depletion of retirement savings from premature cash-outs.
Lawsuit Over Kentucky Retirement System Hedge Fund Investments Dismissed
The Kentucky Supreme Court said it ‘recognizes that plaintiffs allege significant misconduct,’ but it found they lacked standing to bring their claims.
Goldman Sachs Fails to Get ERISA Self-Dealing Suit Dismissed
A federal judge found claims by a participant in the Goldman Sachs 401(k) plan sufficiently plead imprudence and disloyalty.
Changing Messages About Benefits
Plan sponsors can create new communications to engage participants with their retirement and health benefit plans that take into consideration special circumstances caused by the COVID-19 pandemic.
Retirement Industry People Moves
ISS ESG selects global research leader; Newport Group acquires PAi and affiliate company; R&M adds actuarial professionals to Denver region; and more.
Wawa ERISA Fiduciary Breach Lawsuit Settlement Revealed
The class action settlement agreement includes $21.6 million in cash payments, with no admission of wrongdoing by the plan’s fiduciaries.
How DB Plans Fare During Volatility Depends Greatly on Portfolio Allocation
Depending on asset allocation, some plans have fared better than others, but the majority are down for the year.
Risk for Cyberattacks Heightened as Remote Work Continues
Remote work is expected to lead to more attacks on retirement plan accounts, but there are an increasing number of measures to handle the threat.
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Investment Product and Service Launches
ISS ESG expands Solactive index series; Vanguard reveals ESG U.S. corporate bond ETF; and more.
401(k) Investors Continue to Move Into Fixed Income
There was also a slight uptick in trading during June.
Do Employees Understand the Value of Their Equity Compensation?
With many employees using equity compensation for long-term savings goals and wealth accumulation, providing education and advice is important.
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NFP Offers Financial Wellness Platform
Called WellCents, NFP says it was designed to help employers realize the value of a workforce that is prepared for a successful and secure retirement.
New ‘Down Market’ ERISA Lawsuit Targets CDI Corp.
The company and its board of directors are accused of various fiduciary breaches in the operation of a sub-$300 million defined contribution plan.
Get Beneficiary Designation and Missing Participant Practices in Order
The pandemic has highlighted the need for plan sponsors to actively encourage revised beneficiary designations and have missing participant procedures in place.
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Voya Offers SAVVI’s Short-Term Financial Planning Tool
Employees of Voya’s clients whose income has been affected by the COVID-19 pandemic will be able to get a personalized short-term financial action plan.
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Ayco Launches Marketplace for Financial Benefits
Solutions in the marketplace address a variety of financial needs, including personal loans and savings, student loan refinancing and investment management.
Health Care Organization Faces 403(b) Excessive Fee Suit
Much of the complaint is dedicated to discounting the use of an actively managed TDF suite rather than a less costly index TDF suite.
Judge Roundly Rejects CareerBuilder ERISA Lawsuit
The text of the dismissal ruling relies heavily on precedent set by the United States 7th Circuit Court of Appeals.