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.
Tag: Defined Contribution
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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.
About a third of participants across Millennials, Generation X, and Baby Boomers who self-manage the investment of their plan accounts are more conservative than a typical target-date fund appropriate to their age.
Looking at asset flow data provided by Wells Fargo, there is very little money going into the standalone index equity fund options being added to DC plan menus—and this is probably a good thing.
Today, just 8.8% of “mega plans” with assets greater than $1 billion utilize a fully bundled structure.
The new edition aims to support the needs of employers providing defined contribution plans by enabling service providers to prepare consistent RFP responses, resulting in reduced response times and more accurate evaluations.
Alongside numerous changes, the bill seeks to eliminate the current 10% cap on automatically-increased deferral rates of employees who are automatically enrolled in a plan.
A new public website has simpler navigation features, straightforward design, targeted messaging and an increased focus on educational tools.
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For someone making $90,000 a year, that would jump to $277K, America's Best 401k says.
However, employers will likely have some difficulty in knowing how to handle the January 1, 2018, effective date that has been assigned for many provisions in the House and Senate tax reform proposals, especially for the purposes of income tax withholding.
As laid out by a Finhabits report, very few workers save for retirement unless their employer offers them a retirement plan; as a result, only 30% of small-business workers are saving for retirement in the U.S.
A Lincoln Financial Group study revealed little participation rates in governmental defined contribution plans, compared to 401(k) and 403(b) plans.
Among plans with both automatic enrollment and escalation, 70% have participants saving 10% of more.