The appellate court and district court both agree that Foot Locker did not adequately disclose to participants the possibility of “wear-away” during the transition to a cash balance approach.
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.
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.
Plaintiffs originally filed their cash balance plan lawsuit in 2004, claiming the way their employer created a cash balance plan by essentially transforming an existing 401(k) represented impermissible benefit cutbacks.
The features of cash balance plans that make them easier to understand and make costs more predictable also create challenges for investing plan assets.
October 14, 2014 (PLANSPONSOR.com) - Sage Advisory Services and July Business Services launched a full-service packaged solution for cash balance plans.