Investment policy statements (IPSs) are commonplace among retirement plans — with around 83% providing one. This number tends to be even higher among bigger plans. See how an IPS can offer an additional layer of protection, clarify plan decision-making, and help your organization better define and meet business objectives in our latest blog.

ERISA states that every plan document must identify a “Named Fiduciary” to be the individual or entity serving as the primary fiduciary responsible for all plan management activities (e.g., President, Plan Administrator, The Company (BOD), or another individual or entity). A plan must have appropriate fiduciaries in place so that it can continue operations and participants have a way to interact with the plan.

With the nation’s economic outlook in question, It’s more important than ever to make sure your retirement plan offerings differentiate your organization from the competition. Whether you’re looking to deepen your bench by attracting top talent or retaining the valued employees you have, evaluate if your retirement benefit is enough to move the needle.

In September, the U.S. Department of Labor (DOL) released an Interpretive Bulletin that updates guidance on audits of benefit plans under the Employee Retirement Income Security Act. The updated guidelines intend to help determine when a qualified public accountant is independent for auditing and rendering an opinion on Form 5500. With the new guidance, DOL removes what it describes as certain “outdated and unnecessarily restrictive provisions” and reorganizes other provisions for clarity.

The IRS has released 2023 inflation-adjusted limits on retirement benefits and compensation. Check out the adjustments breakdown and learn about the highlighted changes for 2023.

With the recent market volatility, it’s understandable you may be concerned about your investments. Don’t let the market volatility spook you! Consider the following tips.

Recently, the U.S. Labor Department issued new 2022 guidance regarding 401(k) retirement plans offering investments in cryptocurrency and/or self-directed brokerage accounts in their plan menu. Based on the new guidance, employers could have fiduciary responsibility for participant cryptocurrency trades made through their self-directed accounts. Read the article to learn more.

As the seasons change and the days start getting chillier, market trends are calling for doom and gloom in the economy. Some argue a recession is inevitable, if not already here. What exactly does this mean and what should Americans do if in fact we are in a recession?

Most 401(k) plans have access to a large pool of funds, making them an attractive target for cybertheft. They contain a plethora of sensitive personal information which can entice hackers interested in perpetrating identity theft and other forms of fraud. Because of these risks, it’s important for fiduciaries to understand cybersecurity and to follow established safety protocols aimed at keeping their plans secure.

According to a recent study by the General Accountability Office, 29% of Americans 55 and older do not have any retirement savings or pension plan, and those who have saved are woefully behind. The bleak outlook can largely be attributed to a lack of education when it comes to retirement planning. Here are three key areas to center your retirement planning around.

“Zillennials,” or people who were born between 1993 and 1998, expect more holistic benefits packages from their employers. Because Zillennials are evaluating their work experience in a new and expanding way, it’s important for employers to understand this dynamic when considering hiring practices and potential redesign of their employee benefits package.