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September 13th, 2016

New Government DC Benchmarking Report

A new benchmarking report entitled Perspectives in Practice “A Benchmarking Initiative for Public Sector Defined Contribution Plans” has been published by The National Association of Government Defined Contribution Administrators, Inc. (NAGDCA). The report presents a detailed analysis of key operating data from the government defined contribution (DC) industry, based on confidential surveys submitted by 62 individual plans representing $116 billion in plan assets and 2.4 million individual plan participants.Read more >

Hospital Sued by EEOC for Age Discrimination

According to the U.S. Equal Employment Opportunity Commission (EEOC) Montrose Memorial Hospital, a hospital in Montrose, western Colorado, violated federal age discrimination law. The EEOC’s lawsuit states that Katherine Casias worked as a licensed practical nurse and registered nurse for 27 years with the hospital before Montrose fired her. Casias was accused of performance deficiencies for which younger nurses were treated much more leniently.Read more >
Are SPDs Needed for 457(b) Plans?
“I work for a large museum that sponsors multiple retirement plans. In a recent document review, I discovered that, although all our plan documents were executed and up to date, and most of our plans also provide current summary plan descriptions (SPDs) to plan participants, our 457(b) plan lacked an SPD. Do I need to correct this apparent oversight?”Read more >

Savers More Likely to Achieve Long-Term Targets

Boomers are saving twice as much for retirement as Millennials, with a median of $300 vs. $150 per month and despite the fact that Millennials are saving for other things, more than two-thirds (72%) have already started saving for retirement.Read more >

Equity Awards Can Be Part of a Long-Term Financial Plan

Sixty-nine percent of employees who incorporate equity awards into their financial plans feel confident about achieving their financial goals versus 43% of those without a plan. Similarly, 61% of employees who receive equity compensation advice feel highly confident about retirement versus 41% who have not received help from a financial adviser.Read more >

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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