Happy Friday, PLANSPONSOR readers! When retirement plan sponsors contemplate the design and administration of their plans, guidance from regulators can offer clarity, but sometimes it creates more confusion. Most are looking for the next “best practice” to boost plan participant outcomes, and legislators as well as providers and industry groups often have ideas for what this is. One thing is for sure, there has been a movement from thinking only about retirement savings accumulation to thinking about how participants will draw down their assets to make them last throughout retirement. This edition of PLANSPONSOR Weekend addresses these issues and more.
Given some of the strong language used to warn retirement plan fiduciaries against placing other interests ahead of the financial benefit of their participants, the latest Department of Labor (DOL) bulletin on the topic of environmental, social and governance (ESG) investing has created some confusion.Read more >
As skilled Baby Boomer employees begin to reach the traditional retirement age, employers need to examine their policies and procedures to address the potential loss of talented and experienced workers.Read more >
The plan to adopt a fee-leveling approach and rebate revenue sharing to participants comes as many institutions of higher learning face lawsuits challenging their 403(b) plan fees.Read more >
Plan sponsors will be required to provide much more data, as well as certifications about plan administration and governance, and limited-scope audits will no longer be so limited.
The agency says the proposal seeks to emphasize that climate change and other ESG factors can be financially material and that considering these elements can lead to better long-term risk-adjusted returns.
