Hello, PLANSPONSOR readers! The big news this week is that our 2017 Recordkeeping Survey is published. We received news from the Department of Labor (DOL) as it just issued a request for information (RFI) about the fiduciary rule. The RFI offers insight into what changes the agency is thinking about. Also, during a hearing before lawmakers, Secretary of Labor R. Alexander Acosta gave some insight into agency initiatives. We also learned some things about small defined contribution (DC) plan sponsors: In one study, they offered reasons for not offering a retirement plan, and another study showed those that do are taking plan design lessons from bigger plans. We also gained insight into the Senate version of the health care bill and its potential effect on employers. All this and more in this edition of PLANSPONSOR Weekend!
In addition, Acosta said the DOL’s budget proposal funds an effort to improve Employee Retirement Income Security Act (ERISA) disclosures to retirement plan participants.Read more >
Only 53% of small- to mid-sized businesses, those with five to 250 employees, offer a retirement plan, The Pew Charitable Trusts found in a survey. Ninety-three percent believe their employees would prefer a higher salary or other benefits.Read more >
Vanguard researchers highlight several positive trends, including the growing adoption of automatic enrollment, target-date funds (TDFs), employer contributions, Roth options, and loan flexibility.Read more >
The strongly worded complaint says the plan fiduciaries “utterly abdicated their fiduciary duties to act prudently and loyally” by turning the plan over to TIAA and Vanguard Group.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 >
