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Defined Contribution Plans
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Retirement disclosures to increase transparency and shop for service providers
February 7, 2012The Department of Labor unveiled a final 401(k) fee disclosure rule last Thursday that requires plan providers to give more details about what employers pay for retirement plan administration and other services.
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8 moves to improve your retirement plan
February 1, 2012Strategic retirement planning should be a blend of science and art. 401(k) returns are unimpressive, and Americans save far less than our global counterparts. If you want to maintain integrity in your fiduciary relationships, it's time to find the courage to make changes to your plan that will benefit your long-term employees for many years to come:
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Retirement wisdom turned upside down
February 1, 2012Based on 30+ years of plan sponsor experience, I believe negative press about 401(k) loans are aimed at the wrong target. Rather, hardship withdrawals should be in the crosshairs, not loans.
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401(k) limits increase
February 1, 2012The maximum annual participant contribution to 401(k) plans has increased for 2012 but employees may not be aware of it, according to a recent Fidelity Investments survey.
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Target-date funds get customized as plan sponsors take charge
February 1, 2012Custom target-date funds are beginning to proliferate at the expense of their off-the-shelf counterparts, in part because plan sponsors want to have greater control over what’s in a fund and have access to a wider array of investments to put in them.
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IRS reduces program for requesting tax status determination letters
January 27, 2012On January 3, 2012, the Internal Revenue Service issued Revenue Procedure 2012‑6, which formally changes and eliminates certain features of its determination letter program for qualified retirement plans. According to an earlier announcement of these changes (in IRS Announcement 2011-82), the IRS concluded that the features being eliminated are “of limited utility to plan sponsors in comparison with the burdens they impose.” However, the changes will significantly restrict the determination letter service on which plan…
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Employers doubtful about workers’ ability to adequately prepare for retirement
January 26, 2012As the economy continues to falter, employers have become increasingly reticent about their employees' ability to successfully save for retirement, according to a new survey by Aon Hewitt. In response, employers are creating solutions to help rethink their retirement benefits plan strategies and assist their employees in better preparing for retirement.
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American commitment to retirement remains with the 401(k)
January 25, 2012Despite flat stock market returns in 2011, investors haven't lost faith in their workplace retirement plans, according to two studies released on Tuesday by the Investment Company Institute.
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U.S. workers’ financial situation and confidence in retirement security improve
January 19, 2012U.S. employees’ confidence in their ability to retire comfortably continued to rebound last year. However, despite growing satisfaction with their financial situation and fewer employees reporting significant declines in retirement savings, many employees remain concerned and are taking steps to get their financial houses in order, according to a new survey by Towers Watson.
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Broker-dealers up in arms over 401(k) fee disclosure
January 12, 2012Broker-dealers are up in arms over a little-known provision of the Department of Labor's 401(k) plan fee disclosure rules.
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401(k) contribution limits rise for 2012
January 12, 2012The New Year is a good time to communicate to employees that the maximum annual participant contribution to 401(k) plans has increased, says one retirement plan expert.
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EBSA makes 2011 5500 information available
January 6, 2012Although it is probably not high on the list of priorities for plan administrators, the end of a calendar year usually means means the start of the process of preparing 5500s. They may not be due right away, but it is always good to know what information you will have to provide when you eventually file them. The Employee Benefits Security Administration has made an informational copy of the 2011 5500 available, with instructions, on…
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List of top retirement plans has Southwest pilots flying high
December 21, 2011Southwest Airlines pilots are now free to retire about the country. That's because they have the nation's best 401(k) plan.
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IRI to Federal Insurance Office: Annuities critical to retirement
December 20, 2011The Insured Retirement Institute Friday responded to the Federal Insurance Office’s request for comment on how to modernize insurance regulation in the U.S., saying that the nation’s insurance regulatory system needs to be modernized — and insurance products, most notably annuities and other insured retirement income products, need to be made available to underserved populations.
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Low-income workers benefit from 401(k) plans
December 19, 2011A new paper from the Center for Retirement Research at Boston College challenges the assumption that the tax deferral advantage offered by 401(k) plans mainly benefits high-income workers, who face higher marginal tax rates.
