Advertisement
News
Aligning Retirement Benefits and Employees’ Needs
You offer a retirement plan, but participation is not what you had expected. Why? What’s not to love? After all, retirement plans offer benefits to employees—and employers. They give employees a way to save for their future and build long-term financial security; for employers, a retirement plan can help attract and retain employees. Betterment... Read More >>
Addressing Missing Participants: The Why and the How
Spring cleaning is well underway. But that need not be limited to closets, kitchens, and garages—it can serve retirement plans and their administrators too. And one such prime function is addressing missing participants. Missing participants—former employees whose benefits remain in the plan but who cannot be contacted or don’t respond to... Read More >>
IRS Issues Guidance on Certain RMDs for 2024
The IRS on April 16 issued guidance on certain specified required minimum distributions (RMDs) for 2024. It adds that the final regulations it plans to issue related to RMDs will apply for purposes of determining RMDs for calendar years beginning on or after Jan. 1, 2025. The guidance is contained in Notice 2024-35. Previous Guidance The IRS in... Read More >>
DOL Turns to Recordkeepers for Help with Lost and Found Database
The Department of Labor (DOL) on April 15 released a proposed information collection request (ICR) to help implement a forthcoming lost-and-found database to assist individuals with locating missing retirement accounts, but the operation appears to have hit a slight bump in the road. Section 303 of the SECURE 2.0 Act of 2022, which was enacted... Read More >>
Limiting Loans and HSW Money Sources
Sponsored by: MFS Investment Management How much access plans allow to retirement assets during employment through loans and hardships is variable and sponsors are often trying to strike a balance between allowing access in emergencies and preserving assets for retirement. Knowing that they can access their money during emergencies can often help... Read More >>
What Plan Sponsors Want (and Expect) from Advisors
What do plan sponsors want? What products and services do they feel are right for their participants? Importantly, what do they expect from the advisors with whom they engage? These questions and more were answered at an afternoon general session at the recent NAPA 401(k) Summit in Nashville, Tenn. Appropriately titled “What Do They Want? Ask a... Read More >>
Call for Guidance on Recordkeeping in the Electronic Age
Editor’s Note: This is Part II of a two-part series on a recent report by the Advisory Council on Employee Welfare and Pension Benefit Plans to Acting Secretary of Labor Julie Su. Part I is here. Recordkeeping has long been moving from paper-based to electronic. The Advisory Council on Employee Welfare and Pension Benefit Plans in a recently... Read More >>
OMB Concludes Fiduciary Rule Review, DOL Release Expected Soon
The White House's Office of Management and Budget (OMB) has completed its review of the Retirement Security Rule, and it is expected to be released by the Department of Labor (DOL) by the end of the month, according to reliable sources. The OMB concluded its review and removed the rule from its regulatory review dashboard on April 10. The news... Read More >>
Nominations Now Accepted for American Retirement Association’s 2025 Board of Directors
Nominations are now being accepted for the American Retirement Association’s 2025 Board of Directors. Elected at-large members of the Board of Directors serve for one term of three calendar years. Nominees must be nominated by at least two members to be considered. Submit a nomination today! Click here: https://usaretirement.wufoo.com/forms/ara-... Read More >>
Hours or Years?
Sponsored by: MFS Investment Management A question came up recently on a committee call about how plan sponsors calculate time for eligibility and vesting requirements – are they tracking hours, or using elapsed time (6 months, 1 year, etc.). One plan sponsor stated they had recently changed from calculating hours worked to elapsed time for ease... Read More >>