…the retirement plan against misappropriation of funds by individuals handling the plan’s assets. However, the fidelity bond does not protect against claims for losses sustained because of a breach of fiduciary duty. Fiduciary Liability Insurance Protection Fiduciary liability insurance provides protection for trustees and other…
…can be a relatively simple exercise.. These online calculators commonly use factors such as current age, household income, and current retirement assets to develop an annual retirement savings target. Usually included in the results is a “desired income replacement rate,” which is the percentage of…
…plans must file a Form 5500 for every year the plan holds assets. Outsourcing these responsibilities to a 3(16) Plan Administrator can be a lifesaver for companies; a lack of knowledge/expertise can lead to a variety of penalties and inadvertent errors, ranging from hefty federal…
…raided by the FBI amid fraud and theft allegations, alleging that principals Jeff and Wendy Richie mishandled the plan assets of a South Carolina septic tank, trucking and concrete block company: according to a resultant lawsuit, as of March 15, 2017, the plan’s total value…
…pension plans and 106 million defined contribution plan participants covering estimated assets of $9.3 trillion. Given that plan sponsors and their vendors typically are responsible for significant amounts of money – not to mention personal data of plan participants, including not just Social Security numbers…
…affected participants. After-tax contributions are considered plan assets when testing whether the plan is “top-heavy.” If a plan is top heavy, meaning more than 60 percent of its assets are held by key employees (generally, the owners and officers of the business), then the plan…
…investment contracts or GICs, are backed by the strength of the insurance carrier. If the carrier became insolvent, potentially no assets would be available to pay participants. Bank or trust company stable value products, commonly structured as collective investment trusts or CITs, are often referred…
…infrastructure, can pension funds share in the cost? A growing source of non-government funding for infrastructure has come from targeted investment funds via commitments by pension funds and other institutional (non-retail) investors. According to Pensions & Investments, global assets under management in infrastructure increased from…
…the EBRI refers to as the nation’s $4.1 trillion Retirement Savings Shortfall (RSS). On February 7, EBRI’s research director Jack VanDerhei wrote that auto-portability “would help keep the DC [defined contribution] assets in the retirement system and — in theory — reduce leakage from cashouts…
Non-profit employers have a growing list of concerns associated with their 403(b) plans; fee litigation, illiquid annuity contracts, administration of legacy assets, diminishing on site participant education, fulfilling the fiduciary obligations and the list continues. What are 403(b) plans sponsors doing today to address these…
…most significant retirement plan legislation in more than a decade. As its name implies, the SECURE Act’s main purpose was to increase access to tax-advantaged retirement accounts and to help prevent older Americans from outliving their assets. Next came the Coronavirus Aid, Relief and Economic…
…Amazon effect The emergence of the “emerging markets” International demand for US financial assets & commodities 2018: What stock and bond valuations are telling us now? The risk of a US equity selloff? Concerns and opportunities The risk of a bond selloff? Concerns & opportunities…