What Disclosures May be Distributed Electronically under the DOL Safe Harbor? A comprehensive guidance - and safe for plan fiduciaries - is the safe harbor for electronic delivery provided in the DOL regulations.

Albert Einstein may not be remembered as a finance expert, although he seems to have had a bead on the power of smart investing. When asked what mankind’s greatest invention was, he’s reputed to have answered “compound interest,” describing it as the “eighth wonder of the world.”

According to the College Board, the cost of a four-year education increased more than 200% (after inflation) from 1988 to 2018. This has placed a tremendous burden on graduates, with national student loan debt now topping a staggering $1.6 trillion.

If your plan has not been recently audited, it is likely only a matter of time before the Internal Revenue Service (IRS) or the Department of Labor (DOL) comes knocking. If/when you are notified of an audit, early preparation can help streamline the process, keep the investigation narrow, and avoid potential financial penalties and interest.

Although not legally required by ERISA, a retirement plan committee charter is a very important document for plan governance which may help fiduciaries avoid potential liabilities. Committee Charters are one effective way to “evidence” intent of prudent plan management. Having a charter is a “best practice” all plan sponsors should seriously consider.

A recent comprehensive TIAA survey of financial wellness plan participant perceptions may be helpful to plan sponsors who have, or are considering implementing, a wellness plan for their employees.

So much about financial wellness has to do with cultivating a mindset favoring delayed versus immediate gratification. In the language of behavioral economics, the tendency to prefer short-term rewards is called hyperbolic discounting.

Both ERISA and the IRS require DC plan loans to reflect a “reasonable rate of interest”.