Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
December 23rd, 2014
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 >
Sponsored message from New York Life
PLANSPONSOR interviews Colette Sagar of New York Life Retirement Plan Services.Read more >
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 >
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 >