…the defined benefit plans of the employees of the Federal Home Loan Banks. Today we have over 1,400 institutional relationships that involve, in most cases, the complete outsourcing of our clients’ DB or DC plans. So what really is new since 2008? We believe that…
…of the employees. Three categories for investing participant’s contributions were established by the Department of Labor; age-based, risk-based and managed accounts. It was determined by the DOL that target date funds (TDFs) were appropriate since they take into account the age or retirement date of…
A blog by John Pinto, Presdent & CEO – June 9, 2014 It was not a typical day for retirement plan professionals, but it was certainly memorable. On May 15, 2014, I had the pleasure of joining 15 of our passionate employees from our White…
…participants achieve long-term successful retirement outcomes and attain retirement readiness. This includes adding features such as automatic enrollment, automatic escalation of salary deferrals and utilization of qualified default investment funds. It is important to consider adopting these features to benefit new employees as well as…
…ultimately belongs to the bank, it is the named fiduciary who holds the liability in such instances. Such an arrangement can also be of value in the case of multiple employer plans (MEPs), an employee benefit plan that can be maintained as a single plan…
A blog by Richard Rausser, CPC, QPA, QKA, Senior Vice President, Pentegra Retirement Services – July 28, 2015 “I might need my money.” This is a remark that is frequently voiced by retirement plan participants – especially inexperienced investors and/or younger employees – when faced…
…is intended to help participants design their 401(k) plan accounts in an uncomplicated way that is easy to understand. Many companies’ 401(k) plans include simple, yet effective tools, such as automatic enrollment, where the plan sponsor chooses a “default investment” for employees’ contributions. These default…
…the forest for the trees” scenario. By definition, retirement planning professionals are primarily concentrating on how to help their clients, and those clients’ employees, to develop a prudent savings strategy in order to achieve a comfortable retirement. We see people constantly striving to “hit their…
…for plan years beginning in 2019 and beyond. The proposed changes seek to improve publicly available information about employee benefit plans and reinforce the important duties plan fiduciaries have under ERISA to prudently operate plans and monitor service providers. The table below highlights our first…
…Now may be as good a time as any to start the conversation. Different couples have different lifestyles According to the U.S. Department of Labor, 60.6% of married couples have two working spouses. However, not all employers offer retirement plans for their employees – particularly…
…trade agreements. The future of yet another matter also remains unclear: what shape changes to the fiduciary standard as applied under the Employee Retirement Income Security Act of 1974 (ERISA) will take. If, of course, there are any changes. Following five years’ worth of development…
Every retirement plan design begins with a study of a company’s payroll. It’s the essential information that drives thinking around how to optimize tax and savings potential for both business owners and their employees. Once a plan is installed, we rely on payroll data to…