Hello, PLANSPONSOR readers! To quote a colleague of mine: “Providers had a good week in the courts.” Fidelity, Putnam and Voya all had wins in court challenges against them. In other news, an analysis from Wells Fargo finds that, by using some best practices, plan sponsors have moved the needle toward more plan participants taking action to reach an 80% income replacement goal, and another study reveals pre-retirees could use some help in developing a retirement income strategy. Enjoy this edition of PLANSPONSOR Weekend!
A judge in the U.S. District Court for the District of Massachusetts this week dismissed an Employee Retirement Income Security Act (ERISA) lawsuit filed against Fidelity Management Trust Company over the management and monitoring of a stable value fund offered to 401(k) plans.Read more >
Unlike their younger counterparts, individuals nearing or in retirement don’t have the luxury of long time horizons in which to grow their nest eggs. They are at a point where developing a strategy to sustain their assets and draw retirement income is critical. However, many lack the knowledge to do so effectively, according to a survey by the American College of Financial Services.Read more >
Share the news with a friend! Pass PLANSPONSOR Weekend along—and tell your friends/associates they can sign up for their own copy.Read more >