The Pension Protection Act of 2006 has helped to reduce costs and limit liabilities for multiemployer plans. But the landmark legislation will sunset at the end of the year, which has many stakeholders and consultants predicting future retirement uncertainty for the more than 10 million participants in multiemployer plans across the nation.
The quality of Form 5500 reporting depends entirely on whether benefit managers and plan fiduciaries select qualified auditors and service providers, says Ian Dingwall, chief accountant for the DOL's Employee Benefits Security Administration, speaking this week during the International Foundation for Employee Benefit Plans' annual conference in Boston.
EBNs annual Benefits Forum & Expo, held last week in Boca Raton, Fla., included a special focus on wearable wellness and an inspirational keynote address from marathon swimmer Diana Nyad. In case you missed the event, heres our coverage.
Group annuities are common among 401(k)s because they appear to be cost effective, turnkey options. However, careful due diligence will reveal they are big aggressors when it comes to fees that hinder portfolio growth.
A recent alert from the Securities and Exchange Commission emphasized how easily and quickly false information can be spread via social media by market manipulators who may be posing as legitimate or trusted sources of information. Plan sponsors may want to communicate this information to their 401(k) plan participants.
Since joining the NFL Players Association 25 years ago, Dana Hammonds has launched a successful financial education program and constantly fine-tuned educational topics and outreach to meet players needs. She is the recipient of EBNs 2014 Benny Award for Leadership in Retirement Planning.
Many studies indicate that workers should save at least 12% to 15% of their income each year. It is likely that most 401(k) plan participants are not saving anything near this amount.
Target-date funds continue to increase in popularity among investors as low-cost retirement vehicles, at the same time the Internet and increased benchmarking have made the retirement industry more transparent than ever.
Some industry sectors are bucking the trend from defined benefit pension plans to defined contribution plans, with more than half of companies in the insurance and utility sectors still offering DB and DC retirement plans to new salaried employees.
Despite the ever-changing world, ERISA remains strong and steady. The average American worker is far better off because of ERISA, which has held up remarkably well over the past four decades.
On the 40th anniversary of ERISA, benefits attorney Howard Shapiro contemplates the differences between this landmark piece of legislation and another, the Affordable Care Act.
Happy birthday ERISA! The Employee Retirement Income Security Act of 1974 turns 40 on September 2. Heres a look at 11 important milestones, modifications and case law in the legislations 40-year history.
With such a wide range of opinions about how much money employees need to save for retirement estimates vary from eight to 25 times final pay it can be hard for participants to know what to aim for.
While American employees appreciate having a 401(k) plan, the majority will likely spend more time planning for a new car purchase or vacation than researching their plans investment options.
HighTower has recruited newly formed 401(k) practice Fiduciary Plan Advisors to its network platform.