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News Archive
(What’s) The Fiduciary Role of the Retirement Committee
Plan committees must often make tough decisions – and the time to be ready is before you have to make them. At the 75th PSCA National Conference we’ll explore how you get your people trained, the frequency of the training and who on your committees are considered fiduciaries. This session will also cover how to handle a group dynamic decision... Read More >>
QOTW: Eligibility Changes
In the most recent annual survey report, we saw an increase in the number of employees eligible to participate in retirement plans with shorter service requirements, lower age requirements, and more employee groups eligible to participate. Last week we asked members if they have made changes to plan eligibility requirements, and if not, do they... Read More >>
QOTW: Arbitration Clauses
Over the past couple of years arbitration clauses have been invoked to sidetrack and/or deflect participant litigation. This week we asked plan sponsors if their plan has such a clause. Only one respondent indicated that they do, more than half (56.9 percent) do not, and the rest are unsure. A handful of respondents stated that they are currently... Read More >>
Disclosure “Closure?”
The lifetime income participant-disclosure requirement is here and in effect for all retirement plan statements sent after September 2021. So, how can you create meaningful communications that fulfill the legal requirements, and still give your participants realistic insight into their future retirement income, and savings adjustments that may be... Read More >>
‘Prep’ Positions: Audit Proofing your Plan
Department of Labor audits are no fun – to put it mildly – but they can be managed. The one thing you don’t want is to find yourself in an audit situation unprepared. Come join us for an interactive and engaging session on things you should be doing now to put you in the best position possible for that inevitable day when you get that letter from... Read More >>
QOTW: Emergency Savings Accounts
No organizations currently facilitate an emergency savings account, but many are interested in doing so. Many organizations said that they are currently discussing these accounts and evaluating how to implement and administer them. Other organizations said they currently address the topic through education and/or through their financial wellness... Read More >>
Loan Arrangers: Student Loans – From Backpack to Briefcase
As an employer, what tools and resources can you offer to support newly graduated employees starting payments on student loans, or those who have been paying off years of student loans? What third-party resources are available to help implement a repayment program? What are the barriers and what resources do you have to overcome those barriers?... Read More >>
QOTW: Roth Defaults
A handful of organizations (6.4 percent) have considered Roth after-tax contributions as the default deferral type for automatic enrollment – none have made the switch from pre-tax contributions, yet. Those that have considered it shared: Considered but traditional 401k was preferred as the default. These are popular options for our employees who... Read More >>
‘Table Talk: Just for Plan Sponsors
One of the most popular – and informative – sessions at the PSCA National Conference is our plan sponsor roundtables. The plan sponsor roundtables have been held during each PSCA Annual National Conference for many years. They’re always dynamic and highly regarded sessions where plan sponsors discuss pressing issues with their peers, with no... Read More >>
QOTW: Electronic Disclosures
For our first QOTW in 2022, we asked plan sponsors if they have implemented the electronic disclosure rules implemented in 2020. Nearly 40 percent of organizations have adopted the rule, comments include: It is about time. Our vendor is wonderful and handled all the issues for us! We implemented for everything with the exception of SPD mailings.... Read More >>