Retirement plan committees aren’t required by ERISA; however, they can be extremely beneficial nonetheless — especially for larger plans. They can even help in the event a sponsor is sued, as long as the committees are constructed and operated appropriately. Depending on the size of the plan, some organizations split up committee responsibilities into investment oversight, administration, and settlor functions.

While one could say it’s always a good idea to focus on well-being of any type—whether it’s physical, mental, or financial wellness—there’s perhaps never been a more important time to help employees improve their financial literacy, behaviors, and resilience than right now.

Contributing to your employer’s retirement plan as soon as you’re eligible is crucial to meeting your retirement goals. The earlier you start saving, the more time compounding interest can has to work on your behalf.

ERISA requires employers to retain certain documents. These records are critical if your plan were ever to be challenged by the IRS, DOL or plan participants.

Establishing financial wellness metrics has become increasingly important over the last year. The COVID-19 pandemic has created economic hardships for many American families, depleting emergency funds for some and forcing others to take on additional debt to cover necessary expenses. At work, the resulting stress can lead to increased absenteeism, decreased productivity and greater health care costs for plan sponsors.

Understanding generational attitudes toward investing and the cognitive biases which can lead participants astray is key to helping employees of all ages improve their financial wellness and prepare for a secure and successful retirement.

From Wall Street Journal articles and editorials in Barron’s, to Facebook posts and holiday dinner conversations, Bitcoin is everywhere. This is not surprising when you consider Bitcoin’s exponential growth in 2017. In a year where the market saw new highs, one of the top-performing mutual funds returned 105.73 percent¹, and a top performing stock in the S&P 500 saw 132.3 percent growth (NGR)², Bitcoin’s growth made these all pale in comparison.

Saving for retirement can be intimidating, but it doesn’t have to be. Finding reasons not to contribute to your retirement plan will hurt you in the future.

Whether to use bundled or unbundled service providers is an important decision for your retirement plan. A fully bundled arrangement provides an easy, “one-stop shop” for services, while unbundling separates functions and uses a third-party administrator (TPA), distinct from the recordkeeper. While there is no right or wrong answer to this question, weighing the advantages of each option against the needs of the organization is essential.