| | Benefits & Administration | | Most Retirees Say Employers Did Nothing to Help With Retirement Transition | | A survey of 2,043 retirees by the Transamerica Center for Retirement Studies (TCRS) shows two-thirds (66%) say their most recent employers did “nothing” to help pre-retirees transition into retirement, and 16% are “not sure” what their employers did. Among the 18% of retirees whose employers helped pre-retirees, the most frequently cited offerings are financial counseling about retirement (6%), seminars and education about transitioning into retirement (5%), the ability to reduce work hours and shift from full- to part-time (5%), and accommodating flexible work schedules and arrangements (5%). Both retirement plan sponsors and employees can learn lessons from the experiences recounted by retirees surveyed.Read more > | | | Compliance | | 9th Circuit Questions Meaning of ‘Actual Knowledge’ for ERISA Statute of Limitations | | The 9th U.S. Circuit Court of Appeals sent a case over Intel’s use of alternative investments in its target-date funds back to a lower court for review. A district court ruled that there was no dispute of material fact that the plaintiff had actual knowledge of the alternative investments more than three years before filing the action, and entered summary judgment in favor of Intel. The appellate court ruling questions the definition of “actual knowledge.” Its opinion says, “In light of the statutory text and our case law, we conclude that the defendant must show that the plaintiff was actually aware of the nature of the alleged breach more than three years before the plaintiff’s action is filed.”Read more > |
|
| |
