Hello, PLANSPONSOR readers. The fourth in a five-part series, investment firm Arnerich Massena has published its white paper, “Retirement Plan Best Practices: Plan Monitoring.” A new survey finds defined contribution (DC) plan sponsors are pulling out all the stops to get their participants saving—and saving adequately. A lawsuit about the design and administration of New York University’s 403(b) plans is the first of the large university lawsuits to go to trial. The largest defined benefit (DB) plan sponsors are leading the trend in accelerating pension contributions. And, if you want employees to put their pay increases due to tax reform into retirement savings, the time to act is now. All this and more in this edition of PLANSPONSOR Weekend!
It will only take a few pay cycles for folks to get used to seeing the extra money come in; thus the impetus is on plan sponsors to act today to directly encourage employees to consider putting some or all of their additional take-home pay into the retirement plan.Read more >
Following a pattern as trendsetters, the 20 members of the $20 billion club collectively dismissed funding relief and paid more than triple their mandated contributions in 2017, according to Russell Investments.Read more >
With concerns about retirement readiness growing, DC plan sponsors are turning to automatic features, increasing their contributions, streamlining their investment menus and improving fee transparency.Read more >
Even cases that allege potential wrongdoing on the part of a service provider are often targeted exclusively at the plan sponsor. Not so in the latest suit filed by the law firm Schlichter Bogard & Denton.