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| Benefits & Administration |
| The Los Angeles Angels and the Boston Red Sox
are among the first teams to discontinue defined benefit (DB) pension plans for
non-uniformed staff. According to the Los Angeles Times, Major League Baseball
owners voted last January to allow individual teams to reduce or discontinue
pension plans for non-uniformed personnel.Read more > |
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| Sponsored message from New York Life |
| PLANSPONSOR interviews Colette Sagar of New York Life Retirement Plan Services.Read more > |
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| From the Magazine |
| Just out of Reish: A New Fiduciary Duty |
| With the aging of the Baby Boomers, as well as
the growing reliance on 401(k) and 403(b) plans, the government is focusing on
distributions from those plans. Or, better put, the government is focusing on
whether participants are being given sufficient materials to make informed
decisions about their four distribution options: leaving the money in the
current plan, transferring it to a new employer’s plan, rolling it over to an
individual retirement account (IRA), or taking a taxable distribution. The
emerging consensus is that participants aren’t receiving meaningful data about
those alternatives—or about what to consider when making a choice.Read more > |
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| Products, Deals & People |
| A partnership with SyncStream Solutions will
give CBIZ clients access to a CBIZ-branded, web-based technology tool that
provides Patient Protection and Affordable Care Act (ACA) reporting and
compliance knowledge, ACA collateral and education materials. Intended to
minimize companies’ compliance risk, CBIZ ACA CheckPoint allows CBIZ clients to
analyze, manage, track and report employee data in accordance with the ACA’s
employer shared responsibility requirements. Read more > |
| The Principal Introduces Retirement Planner |
| The Principal Financial Group has introduced
Retirement Wellness Planner, which includes interactive sliders, intuitive
prompts and a real-time savings graph that focuses on monthly income in
retirement and how long that income may last. Participants can take immediate
action—such as increasing deferrals—within the planner itself. Detailed,
participant-specific attributes—such as desired retirement age, employer match,
salary and Social Security assumptions—are included in the planner. Users can adjust
inputs to see immediately how changes would impact their monthly income in
retirement.Read more > |
