It was an exciting week for PLANSPONSOR as we held our annual Awards for Excellence dinner. But, there was also some interesting news. The Department of Labor and Securities and Exchange Commission have put in their “two cents” about stock drop case pleadings; a study shows parents spoil their children to the detriment of their finances and retirement savings; a case study by Humana quantifies the cost savings of employee wellness programs; and the idea of offering student loan repayment benefits to employees to help them save for retirement may pick up as Prudential announced it is offering Student Loan Genius’ solution to its clients. All this and more in this edition of PLANSPONSOR Weekend!
The Department of Labor (DOL) and Securities and Exchange Commission (SEC) both filed amicus briefs in the long-running case Whitley v BP PLC, an Employee Retirement Income Security Act (ERISA) stock drop lawsuit revived in 2014 in the wake of the U.S. Supreme Court decision in Dudenhoeffer v. Fifth Third Bancorp.
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PLANSPONSOR'S much anticipated annual Defined Contribution Survey measures and evaluates the satisfaction levels of 401(k) and other DC providers according to feedback from their plan sponsor clients. Major defined contribution providers are rated in 23 areas of participant/sponsor services. The information collected is intended for plan sponsors to gauge their plans against their peers.