Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 9th, 2018
Webcast
Join us April 3 for a webcast during which sources will discuss innovation and the world of financial wellness, including how health savings accounts are becoming a part of the retirement conversation. The session will also cover how the combination of innovative defined contribution (DC) plan design and investment solutions can help meet the unique objectives of participants approaching or in retirement.Read more >
Benefits & Administration
Large Plan Sponsors Define the Cutting Edge of DC
Asked what third parties are involved in the design of their organization’s workplace retirement plans, just more than half said “a financial adviser,” according to BlackRock’s latest Defined Contribution Pulse Survey. The survey data is comprised of polling results generated from large defined contribution (DC) plan sponsors. Fewer (36%) cited “an employee benefits consultant,” while three in 10 pointed to a third-party administrator (TPA). This last stat is particularly interesting, given that these are responses coming from large, well-established plans. The role of TPAs is commonly viewed as being more limited in this market segment, given that large plan sponsors are more likely to have their own dedicated administrative staff to manage and run the retirement plan. But as the BlackRock stats show, at least when it comes to plan design, TPAs continue to exert some significant influence.Read more >
Wisconsin-Based Diocese Closes Pension Plan
The Diocese of La Crosse announced it will end its pension plan for lay employees. All funds in the plan will be distributed as a one-time lump sum payment to eligible participants. A letter to employees from Bishop William Patrick Callahan notes that the pension plan was frozen in 2007 and replaced with a 403(b) defined contribution (DC) plan. The diocese continued to bill parishes and allocate funds from the Diocesan Annual Appeal to help make up for the shortfall in the underfunded pension, but the efforts weren’t enough to fully fund it.Read more >
MOST READ ARTICLES