PLANSPONSOR Weekend Newsdash
Week ending November 3rd, 2017
Happy Friday, PLANSPONSOR readers! This week, we’ll be diving into new plan design and administration strategies. First up, plan sponsors may want to take a look at operational risk as defined contribution (DC) plan sizes continue to bloom. A framework from Segal Marco can help sponsors recognize and manage these risks. Next, learn how to better communicate and engage Millennial workers, since according to L. Rita Fiumara from UBS, 75% of the workforce in 2030 will be made up of this younger generation. Also, did you know that if an employer pays more concern to a worker’s health and well-being, employees will likely be better engaged? As more plan sponsors are incorporating best practices, automatic enrollment, one-on-one counseling sessions and online guidance are seeing an increase; and TIAA recommends suggestions to help plan participants secure a retirement income they can’t outlive. All this and more on this edition of PLANSPONSOR Weekend. 
Editor's choice
DC Plans Need a Framework for Managing Operational Risks
An insight article offers a framework for identifying and managing operational risks, and Julian Regan, with Segal Marco Advisors, says even though the insight is given for public-sector DC plans, it could apply to corporate DC plans as well.Read more >
Different Generations Require Different Communication Strategies
Many of us have probably seen studies or media reports that Millennials are selfish, lazy and narcissistic and live in their parents’ basements. But L. Rita Fiumara from UBS casts some further light on that assessment.Read more >
There Is Value in Ongoing Benefits Education
Employees need help with health and financial benefits year-round, and employees who believe that their employer cares about their health and well-being are more engaged.Read more >
Data and Research
Sponsors Embracing a Wider Array of Best Practices
Plan sponsors continue to embrace best practices when it comes to running their retirement plan, Alight Solutions found in a survey of 333 plan sponsors. Automatic enrollment, higher initial deferral rates and financial counseling are just a few that more employers are adopting.Read more >
Data and Research
Lifetime Income Options Would Help More Americans With a Secure Retirement
TIAA also suggests other options for helping retirement plan participants with retirement readiness.Read more >
2021 Target-Date Fund Survey
The DOL Has Begun Retirement Plan Cybersecurity Audits

Attorneys say the requests plan fiduciaries have received ask for a broad amount of information and documentation, and they urge fiduciaries to act on the DOL’s recent guidance.

2020 Recordkeeping Survey
Differences Between Safe Harbor and Traditional DC Plans

The primary distinction is that sponsors can design safe harbor plans to avoid having to perform nondiscrimination and top-heavy testing.

Rush of Litigation Against Retirement Plans Expected to Continue
One insurer says the more than $1 billion in settlements thus far could make fiduciary insurance a thing of the past.

Editorial: Alison Cooke Mintzer


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