Mobile-friendly, responsive web portal design has increased in the retirement industry to match consumers’ rising desires to be able to complete routine tasks without being tethered to a computer.
Tag: Defined Contribution
A new survey shows many Americans are flatly unaware that they can use their health savings account assets accumulated in their working years to pay for health care and long-term care expenses in retirement—believing erroneously the money must be spent or be forfeited each year.
An in-depth review of the results of the latest BlackRock Defined Contribution Pulse Survey show the largest plan sponsors continue to push for the most progressive best practices and plan designs.
The agency also offered suggestions for rollovers by participants in foreign retirement plans.
According to the firms, the “one wallet” approach provides employees with a holistic view of their overall wealth and health when electing their workplace benefits.
More plan sponsors this year than last have voiced a concern that their workers may have to delay retirement; this is the case despite the fact that plan participants are broadly feeling much more optimistic.
Since the last study of this kind by CEM Benchmarking, average DB fund costs have increased from 0.40% to 0.60%, whereas DC plan costs have remained constant at 0.39%; overall, DB plans outperformed DC plans in the last decade by only 0.46%.
This increases to 8.9% for men and decreases to 6.4% for women.
A mere 16% currently offer a pension plan to new hires.
Under a new bill in the California legislature, the state’s Human Resources Department would administer and oversee a defined contribution-type program for state employees, redirecting matching contributions that otherwise would be paid into the state pension system.
ERISA requires plan sponsors to regularly monitor investment lineups to ensure they remain prudent—a task made more complicated by the multi-layered construction of target-date funds; a new paper points to the best practices of defined benefit plans for some guidance.
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With the new opinion, the district court seeks to make clear where the line is when it comes to pleading standards in ERISA lawsuits.
For one thing, a federal court judge found the defendants provide no authority supporting their contention that a plan document executed after the participant has ceased participation in the plan can bind the participant to arbitration.
Fidelity confirms that it will soon begin charging a 0.05% fee on assets invested through its platform into Vanguard products.