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| Benefits & Administration |
| Getting the Best Service from an OCIO Provider |
| The field of outsourced chief investment officer
(OCIO) services has evolved, says Debra Woida, head of North American delegated
investment services at Towers Watson. Back in the 1980s, companies chose to
outsource primarily because they hoped to get fee concessions by aggregating
their assets. Initially, they were satisfied if the fees were lower and the
manager performed above the benchmark. But plan sponsors started to want more
assistance in managing their retirement plans, Woida says, and now OCIO means a
bundle of services.Read more > |
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| Ask the Experts |
| Ask the Experts – Forcing RMDs |
| “There are several individuals who are no longer
working for us, are over age 70 ½, and have never taken their required minimum
distributions (RMDs). Despite the best efforts of the vendor and our staff to
facilitate RMDs for these individuals, they have been unresponsive, failing to
inform us if they are satisfying the distribution requirement via another
403(b) account or to request a distribution. Note that these are NOT lost or
deceased participants—my theory is that they simply do not wish to bother with
the paperwork and do not realize the potentially severe tax consequences of
their actions. Can we amend the plan to force minimum distributions to individuals
who fail to respond?”Read more > |
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| Sponsored message from SEI |
Is your plan lineup designed to help participants succeed?
SEI’s DC Trends Research Series investigates the actions plan sponsors are taking in terms of simplifying the menus of their defined contribution plans.Read more > |
