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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 >>
Recordkeeping in the Electronic Age
Editor’s Note: This is Part I 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. Recordkeeping today is not your grandfather’s recordkeeping. Maybe not even your older sibling’s. So guidance and education from the Department of Labor (DOL) would be... Read More >>
Are QLACs Getting a Closer Look by Plan Sponsors?
In recent years, there has been quite a bit of focus on lifetime income solutions and decumulation strategies, but in considering such solutions, a new survey finds that defined contribution plan sponsors may be taking a closer look at qualified longevity annuity contracts (QLACs). This comes as more Americans are reaching the traditional... Read More >>
Plan Sponsors Embrace Pension Risk Transfers
Reportedly, there has been a surge in pension risk transfer (PRT) activity—and plan sponsors' interest is part of the reason why. According to the U.S. Pension Risk Transfer (PRT) report Aon released March 20, there was sharp growth in PRT activity in the fourth quarter of 2023. And so far this year, they say, the U.S. pension risk transfer market... Read More >>
Plan Sponsors Offer Tips for Retaining Retirees
Sponsored by: MFS Investment Management There have been some recent articles discussing how more plan sponsors are encouraging participants to keep assets in the plan, and a discussion as to whether plan sponsors have enough investment options geared specifically towards those participants. We asked about this issue a few years ago and at the... Read More >>
Good News: Automatic Enrollment Defaults Trending Higher
An early preview of Vanguard’s How America Saves 2024 finds that plan sponsors are continuing to make improvements to their plan designs. The report reveals that 60% of plans with an automatic enrollment design defaulted their employees into the plan at a rate of 4% or higher—which is a new record high and a trend that has continued to increase... Read More >>
The Evolving Workscape - WiR Third Thursdays Podcast
Listen on iTunes | Listen on Spotify | Listen on Google Podcasts March 2024 Episode Description: With the aging population growing so rapidly and birth rates declining, many industries could face labor shortages. As many employers face a coming wave of baby-boomer retirements, the gaps in unique skills, experience, and institutional knowledge... Read More >>
Fee Disclosure Discourse
Sponsored by: MFS Investment Management About 15 years ago, the DOL mandated recordkeepers provide detailed fee disclosure reports to plan sponsors, and that plan sponsors do the same for participants. The belief was that participants did not understand fees associated with investment options in the 401(k) plan and this mandate was intended to... Read More >>
‘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 >>