More Retirement Plan Sponsors Turning to Cash Balance Plans
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
David L. Musto to Lead Ascensus
As part of its expansion efforts, Ascensus has named a new president and pledged to continue its rapid pace of acquisitions.
Transamerica, Sage Advisory Team Up for Cash Balance Plan Solution
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.
IRS Examiners Told to Look at Cash Balance Plan Benefit Formulas
A memo offers examples and would be a helpful guide for cash balance plan sponsors to assess whether their plan offers definitely determinable benefits.
What DB Plan Sponsors Need to Know
Six essential DB strategies
PPA Reduced Lawsuits Against Cash Balance Plans
It also provided guidance about how to convert a traditional pension to a cash balance plan.
Cash Balance Plans Continue to Be Attractive Option for Employers
Kravitz found a 19% year-over-year increase in new cash balance plans, compared to 2% for new 401(k)s.
Retirement Industry People Moves
Kravitz opens Atlanta office, and TIAA leader elected to NBOA board.
DOL Supports Reformation of Foot Locker Cash Balance Plan
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.
A Peek at a Pre-Approved Cash Balance Plan Submission
James E. Turpin, with The Turpin Consulting Group, has one concern with the submitted document he’s seen.
Managing Investment Risk in Cash Balance Plans
The features of cash balance plans that make them easier to understand and make costs more predictable also create challenges for investing plan assets.
Foot Locker Ordered to Reform Cash Balance Plan
A court found purposeful miscommunications led participants to expect a different benefit than they were accruing.
Webcast to Cover Updates to IRS Employee Plans Programs
The agency is hosting a free webcast in which the determination letter program and new pre-approved plan document programs will be discussed.
Number of Cash Balance Plans Surged 32% in 2013
They now comprise 28% of all defined benefit plans.
4th Circuit Revives Case Over Transfers to Cash Balance Plan
The appellate court found that Bank of America’s closing agreement with the IRS did not make the case moot.
IRS Expands Pre-Approved Plans Program
Cash balance plans and ESOPs can now be submitted for an approval letter from the IRS.
Washington Post Agrees to Not Transfer Pension
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.
2nd Circuit Agrees with Reformation of CIGNA Cash Balance Plan
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.
The Year in Regulation and Guidance
Several regulations and pieces of guidance issued in 2014 will have a lasting impact on retirement plans.
2015 Year in Preview
Trends, legislation, regulations and litigation will continue to affect the retirement industry in 2015.