Thanks to new cost-of-living adjustments, the Internal Revenue Service is allowing the American workforce to save a bit more in their retirement plans next year.
Employer clients acting as the fiduciary of a benefit plan may often seek the advice of their trusted adviser. ERISA recognizes that need but also disallows the misuse of an expert. So what qualifies as misuse?
Volatility has returned to the equity markets with a vengeance. The Dow Jones Industrial Average has fluctuated by hundreds of points on many recent trading days. During these times your 401(k) plan participants can become very nervous.
With companies granting over $110 billion in equity each year to employees, the stakes are very high for employers to demonstrate a strong return on investment from their equity compensation plans. And yet, there appears to be a disconnect in how these companies and their employees perceive equity awards.
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 United States Supreme Court has agreed to hear Tibble v. Edison International, a case in which the plaintiffs contend their ERISA plan fiduciaries breached their duty of prudence by offering higher-cost retail-class mutual funds to 401(k) plan participants, even though identical lower-cost institutional-class mutual funds were available.
With more confusion swirling in the employer 401(k) market not to mention an American workforce with staggeringly low retirement confidence advisers and consultants recommend employers play a bigger role as a fiduciary when considering administration fees and investment education.
Commentary: On Friday, September 26, Bill Gross, the portfolio manager of the PIMCO Total Return Bond Fund, left the company for another job. Many financial advisers, including me, believe that his departure is a positive for the Fund and PIMCO. Why is this important to you as a retirement plan sponsor?
The American Benefits Council has introduced its strategic plans for health and retirement policy, providing 46 specific regulatory recommendations for Congress to consider in easing the burdens on employees, employers and government agencies.
Offering financial education can provide a big boost to employee productivity, allowing employees to solve financial dilemmas and refocus on work.
Through the use of education and communication, employers and benefit advisers can have a huge impact on their employees retirement readiness. Making that education meaningful, however, is key to employee engagement and understanding. Here are five tips from Grinkmeyer Leonard Financial and investment advisers with Commonwealth Financial Network on how to make retirement education meaningful.
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.
Despite great strides in retirement security, some lawmakers and benefit leaders see an opportunity to revisit tax policies that could help incentivize all Americans to save more as they plan their exits from the workforce.
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.
A new Senate bill calling for an amendment to a controversial section of the Employee Retirement Income Security Act is expected to save employers and plan sponsors $15 million over the next decade, according to new estimates.