Small business continues driving cash balance growth, with 92% of cash balance plans in place at firms with fewer than 100 employees, research from Kravitz finds.
Tag: Cash Balance
As part of its expansion efforts, Ascensus has named a new president and pledged to continue its rapid pace of acquisitions.
An employer that sponsors a cash balance retirement plan will consult with the plan’s adviser to select one of three investment solutions independently managed by Sage Advisory Services.
A memo offers examples and would be a helpful guide for cash balance plan sponsors to assess whether their plan offers definitely determinable benefits.
Six essential DB strategies
It also provided guidance about how to convert a traditional pension to a cash balance plan.
Kravitz found a 19% year-over-year increase in new cash balance plans, compared to 2% for new 401(k)s.
Kravitz opens Atlanta office, and TIAA leader elected to NBOA board.
The DOL disagreed with Foot Locker’s argument that each participant must show he or she detrimentally relied on Foot Locker's misrepresentations in order to obtain equitable relief.
James E. Turpin, with The Turpin Consulting Group, has one concern with the submitted document he’s seen.
The features of cash balance plans that make them easier to understand and make costs more predictable also create challenges for investing plan assets.
A court found purposeful miscommunications led participants to expect a different benefit than they were accruing.
The agency is hosting a free webcast in which the determination letter program and new pre-approved plan document programs will be discussed.
They now comprise 28% of all defined benefit plans.
The appellate court found that Bank of America’s closing agreement with the IRS did not make the case moot.
Cash balance plans and ESOPs can now be submitted for an approval letter from the IRS.
The Washington Post is moving away from both its traditional DB plan and cash balance plan, and has agreed not to transfer pension liabilities to an insurance company.
In Amara v. CIGNA Corp., an appellate court has once again agreed that a change in plan terms is an appropriate remedy for plan misrepresentations.
Several regulations and pieces of guidance issued in 2014 will have a lasting impact on retirement plans.
Trends, legislation, regulations and litigation will continue to affect the retirement industry in 2015.