A participant in the University of Rochester Retirement Program has voluntarily dismissed a lawsuit alleging that plan participants have paid an estimated $72 million in in recordkeeping, distribution, and mortality risk fees to provider TIAA.Read more >
An informal position taken by the IRS is indicated by it excluding mention of non-qualified church-controlled organizations (non-QCCOs) from the ability to rely on pre-approved plans.Read more >
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Among those that do offer financial literacy programs, 51% say workers increase their contributions to supplemental savings plans, 43% say workers become more engaged with compensation issues, and 41% say they see cost savings for the jurisdiction that at least partially offset the expense of offering the program.Read more >
Defined contribution (DC) retirement plan eligibility and auto portability can have a large impact on reducing retirement savings shortfalls, the Employee Benefit Research Institute (EBRI) found.Read more >
It developed the new tables to give pension actuaries and plan sponsors current information to assist in setting mortality assumptions once it was determined that public pensions have differing levels of mortality than private pensions.Read more >
Federal employees and contractors would be able to take retirement account distributions without penalty and be able to repay the distributions to their accounts.Read more >
Changes to maximum loan amounts and number of loans, as well as the imposition of fees and higher interest rates on loans can be written into loan policy statements in an effort to discourage this type of plan leakage.Read more >
Callan’s 2019 Defined Contribution (DC) Trends Survey finds more plan sponsors have conducted fee benchmarking, there’s a shift in who is paying fees and trends regarding revenue sharing have changed.Read more >
