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| Benefits & Administration |
| Analysis Needed for Faculty Reluctant to Retire |
| TIAA-CREF’s Faculty Career and Retirement Survey finds higher education institution tenured faculty age 50 or older can be divided into three groups—35% expect to retire by normal retirement age; 16% would prefer to retire by normal retirement age, but expect to work longer (they are “reluctantly reluctant”); and 49% would like to and expect to work past normal retirement age (they are “reluctant by choice”). Personal finances are a particular barrier for those reluctantly reluctant. Psychosocial factors are the issue with those reluctant by choice.Read more > |
| Best Practices for Reducing Fiduciary Liability Risk |
| When running a retirement plan, sponsors can follow certain best practices to reduce their risk of violating fiduciary duties. It starts with identifying plan fiduciaries, formally defining their roles in writing, and training them to properly perform their functions, says Barb Van Zomeren, vice president of the Employee Retirement Income Security Act (ERISA) and compliance at Ascensus in Brainerd, Minnesota. The sponsor should also establish a formal retirement committee to manage the plan and the investments, ensure the committee meets regularly, and document discussions at the meetings and all decisions made, she says.Read more > |
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| Ask the Experts |
| Why Form 5500 Fee Info Doesn’t Match Plan Expenses |
| “I am commencing the process of reviewing the 2014
Form 5500 for our calendar-year Employee Retirement Income Security Act (ERISA)
403(b) plan. I noticed that the fees listed in Schedule C are lower than what I
calculate plan expenses to be based on the service provider disclosures that
are delivered to us, as well as other documentation. Shouldn’t these figures
reconcile?”Read more > |
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| Products, Deals & People |
| ForUsAll has created a simple and inexpensive 401(k) product for small businesses with 3(16) and 3(38) fiduciary services.Read more > |
