Advertisement
News
‘Employment Extenders’ and What Their Proliferation Means for Retirement Plans
The “Baby Boom” is still having an impact on the workplace despite its advancing age, with an increasing number from that generation staying in the workforce longer than the “normal” retirement age. And that has implications for plan sponsors, retirement saving, and retirement plans. Extended Tour of Duty Edge Research examined this trend in “... Read More >>
Plan Sponsors Recognize the Value of Fiduciary Oversight: Survey
In what may come as no surprise, a new survey that looks at plan sponsor attitudes toward retirement plan management finds that plan sponsors that use outsourced fiduciaries highly value the service as an important backstop. When asked what resources they currently use to help manage fiduciary responsibility for their retirement plan, more than... Read More >>
Action Steps an Employer Can Take to Support Gen Z in Saving
Editor’s Note: This is part II of a two-part series. Part I is available here. Generation Z is looking ahead and shows a healthy regard and respect for their financial future, long-term. Studies show that they have a strong interest in financial literacy, saving and employer-provided retirement benefits. Members of Gen Z also expect to spend 30... Read More >>
IRS Expects to Fix Glitch Affecting Form 8955 Refunds
The IRS has confirmed that they expect to fix a system-wide glitch that has resulted in improperly withheld refunds of erroneous penalties related to Form 8955-SSA filings. Kelsey Mayo, the American Retirement Association’s Director of Regulatory Policy, reports that some plan sponsors’ refunds have been improperly withheld, but that the IRS has... Read More >>
Communication Strategies to Tackle Common Participant Savings Barriers
How are you communicating your benefits to your employees? It is so important that we get information to our employees and provide them with the communication and education they deserve. Tackling communication in the right way has potential to enhance retention and recruitment strategies and will build stronger employee and employer relationships... Read More >>
DOL Sends Fiduciary Rule to Office of Management and Budget
The Office of Management and Budget (OMB) received the fiduciary rule, listed as Retirement Security Rule: Definition of an Investment Advice Fiduciary, from the Department of Labor (DOL) on March 8. The OMB will review its costs and benefits within 90 days. However, the compressed two-month period in which the DOL finalized the rule has industry... Read More >>
Aging Up RMDs
Sponsored by: MFS Investment Management A Required Minimum Distribution (RMD) age is the statutory maximum age at which participants must begin to take withdrawals from their 401(k) plan. Because the taxes are deferred until distribution, the government does not allow you to keep it there forever – they want their money at some point. A... Read More >>
‘Positive’ Thinking: Why Small Businesses That Offer a 401(k) Do So
Recently, we explored the reasons why small businesses DON’T offer a retirement plan to their workers. But there are quite different—and positive—reasons for choosing to do so. The obstacles that keep most small businesses from offering a retirement plan to their workers are an assortment of factors, real and (somewhat) imagined. There ARE... Read More >>
Gen Z and Retirement Readiness: Room for Optimism
Editor’s Note: This is part I of a two-part series. It’s not unusual for older generations to look askance at their younger counterparts and dismiss them with a harumph at the thought that one day they will come to the fore. But plan sponsors may find it worth noting that some recent data suggests that in the case of the youngest demographic group... Read More >>
Forecasting Forfeiture Changes
Sponsored by: MFS Investment Management There have been several lawsuits recently alleging breach of fiduciary responsibility by plan sponsors due to the way in which forfeitures are allocated. To date, none of the lawsuits have moved forward or have been found in favor of the plaintiff, but we wondered if this new avenue of legal action was... Read More >>