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7 Ways to Reduce Fiduciary Liability
In 2020, nearly 100 lawsuits alleging breach of fiduciary duty were filed. With the number of 401(k) lawsuits on the rise targeting plans both large and small, sponsors are well-advised to consider taking additional measures to mitigate fiduciary risk where practicable.
Bitcoin: Coming to a 401(k) plan near you?
A 2018 report on Bitcoin (BTC) by RPAG, and the conclusions therefrom, remain relevant today. In short, the prudence in adding Bitcoin to a retirement plan is questionable, at best.
ONLINE SECURITY TIPS FROM THE DEPARTMENT OF LABOR
Reduce the risk of fraud and loss to your retirement account by following some basic tips and rules provided by the DOL.
Caveat Guarantor
Retirement income products, or in-plan annuity options, have been available for over a decade, yet their utilization has been stagnant due to concerns about price, portability, and convertibility. With the recent market volatility in 2020 and recent passing of the SECURE Act, we have seen an industry push towards the research, development, and implementation of what are now referred to as “guaranteed income products.”
What is the status on allowing 401(k) match for student loan payments?
A newly proposed Senate bill by Senate Finance Chairman Ron Wyden, would enable participants to continue saving for retirement while repaying their student debt, even in the event they can't afford to make their own contributions to a 401(k) plan. This feature could be offered at the option of the employer and would apply only for expenses pertaining to higher education.
If You are Going to Exclude Active Funds from Your Retirement Plan Investment Lineup, Have Good Reasoning
The tidal surge of funds flowing from actively managed funds into passive funds reached a tipping point in 2019, when Morningstar preliminary data indicated passive U.S. equity assets would surpass active equity assets for the first time. This inflection point was widely anticipated. Over the prior decade, active domestic equity funds leaked $1.3 trillion in outflows, while their passively managed counterparts logged nearly $1.4 trillion in the opposite direction.
Webinar Replay - Convergence of Health & Wealth
Webinar Replay - Convergence of Health & Wealth
What’s an HSA and is it Right for You?
Health savings accounts (HSAs) have grown tremendously in popularity over the past few years. You’ve probably heard of them or maybe your employer offers one. This memo will uncover answers to common questions you may have about HSAs.
5 Tactics to Increase Retirement Plan Participation
As a plan sponsor, you know the advantages of offering a retirement plan for you, including: employee recruitment, increased retention, reduced worker stress, higher productivity and tax benefits. Higher participation and contribution rates can also reduce the chance the plan will fail discrimination testing and be subject to financial consequences if needed corrections aren’t made on time.
But the key to unlocking all the retirement plan benefits for both you and your employees is not simply having a plan, but making sure that enough workers actually use it.
WFH (Wellness From Home) Challenges Both Participants and Plan Sponsors
COVID-19 has posed a duel set of related challenges for plan sponsors and participants. For employees, the pandemic has pitted more immediate financial needs against prioritizing planned savings — and shifted the traditional focus of employee-sponsored financial wellness programs from the future to the present. And sponsors face the difficulty of effectively engaging remote workers showing increased demand for financial wellness programs.
ERISA Definitions and Financial Designations and What They Mean for Plan Sponsors
Plan sponsors and retirement plan committees are likely to encounter a myriad of industry-related naming devices and designations. It is important that they understand what each means in terms of definition, background, and practical impact/importance to the plan, the plan’s fiduciaries, and the plan’s participants.
Fiduciary Hot Topics Q2 2021
Fiduciary Hot Topics - Federal District Court Rules Record Keepers May Use Participant Data to Cross-Sell Retail Products; the Biden Administration Plans to Walk Back the Restricting the Use of ESG Funds; Tax Payers will Pick up the Tab for Underfunded Multiemployer Pension Plans for the Next 30 Years; Funding Relief for Underfunded Single Employer Pension Plans and Senate Removes Freeze on 401(k) Inflation Adjustments from ARPA.