Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 10th, 2015
Benefits & Administration
Companies Looking to Peers for Health Strategies
While employers plan to change their long-term health strategies to evolve with the changing health landscape, there has been little effort over the past year to move in that direction, according to a survey of more than 1,000 companies by Aon Hewitt. Even some of the most prevalent tactics in employers’ health strategies had significantly low adoption rates in 2015. More than three-quarters of health benefit plan sponsors surveyed said the actions of their peers influence their health care strategies.Read more >
Survey Reveals Why 403(b) Plans Need Advisers
Fewer than half (46.7%) of organizations use an independent retirement plan adviser separate from their service provider, according to the 2015 403(b) Plan Survey from the Plan Sponsor Council of America (PSCA). Aaron Friedman, national tax-exempt practice leader at The Principal, which sponsored the survey, tells PLANSPONSOR only 25.8% of 403(b) plans with fewer than 50 participants use an independent adviser. The most common services for which 403(b)s use advisers include investments (73.6%), plan design (64.4%), participant education (60.3%) and provider selection (52.3%).Read more >
Most Employers Will Continue Domestic Partner Benefits
Fifty-seven percent of employers surveyed by the International Foundation of Employee Benefit Plans (IFEBP) indicated they offer benefits to same-gender domestic partners, and 45.4% offer it to opposite-gender domestic partners. Nearly 30% that offer same-gender domestic partner benefits say it is unlikely they will continue offering them, and less than 20% that offer opposite-gender domestic partner benefits say it is unlikely they will continue to. The number one reason given for dropping domestic partner benefits was that it was only offered because same-gender domestic partners couldn’t marry, but now they can. However, respondents cited many reasons for continuing to offer domestic partner benefits.Read more >
Products, Deals & People
As part of its strategy to deliver solutions in the expanding defined benefit (DB) pension transfer market, MassMutual has appointed Lynn Esenwine as vice president of its pension buyout business.Read more >