The legislation would strengthen consumer protections, improve access to retirement savings plans for part-time workers, help increase women’s financial literacy, and give specific support to low-income women and survivors of domestic abuse.
Tag: Defined Contribution
Sponsors of defined contribution (DC) plans are invited to respond to our annual DC Survey. The survey is our largest and most important research project of the year, but we need your help for it to be a success. Please consider responding by the October 19 deadline.
A new interactive interface allows employees to think about retirement and health savings together and visualize the best way to allocate limited assets.
“There is a lot of value in having conversations about retirement income that are not just product driven,” said Josh Cohen, head of institutional defined contribution for PGIM.
A report from Bank of America Merrill Lynch shows employees who do not feel financially well are most concerned about shorter-term financial goals, whereas employees who do feel financially well are most concerned about long-term goals.
One reason DC plans are outpacing DB plans in terms of ESG adoption has to do with a difference in pressing priorities, rather than doubts among DB plans of the viability or usefulness of ESG.
In creating a unified sales and service structure for DC, DB, multiemployer and association retirement plans, the firm wants to provide a more consistent experience for both advisers and plan sponsor clients regardless of market size, location or organizational structure.
Through the expanded Fidelity managed account program, employees will benefit from “ongoing, proactive engagement, including expanded annual checkups, reminders, and information that addresses their specific investment needs, to help them stay on track toward their financial goals.”
In addition, Vanguard found among its book of business a large increase in the number of small businesses offering retirement plans to employees.
In a broad statement marking the first anniversary of the OregonSaves program, State Treasurer Tobias Read suggests the pace of signups is advancing, with an average of more than a thousand people now being registered a week to start contributing.
A new Cerulli Associates survey suggests that at least half of 401(k) plan participants have no idea what to do with the savings they have diligently set aside for retirement.
The text of the new decision says the second amended complaint has failed because “it is an attempt to replead dismissed counts,” and because it includes an entirely new cause of action, violation of the Racketeer Influence Corrupt Organizations Act.
Is it more than education? Is it a full-blown program or something spontaneous and ad hoc? How frequently is it delivered, and how is it benchmarked? Who delivers it, and when?
The trust and expectation that employees place in their employers to help them prepare effectively for retirement is stronger than ever, and this is both a burden and an opportunity for DC plan sponsors.
Data from BMO GAM shows DC retirement plan fees have fallen for all sizes of plan sponsors except those with between $10 million and $50 million in assets.
Participants in the Lowe’s 401(k) plan have filed an ERISA complaint against their employer and Aon Hewitt Investment Consultants over alleged imprudent investment decisions.