…fiduciary obligations as a plan sponsor. WHAT SHOULD I BE LOOKING AT WHEN DETERMINING THE EFFECTIVENESS OF MY ORGANIZATION’S RETIREMENT PLAN? Measuring your plan’s success is more than simply evaluating plan deferral and participation rates it includes measuring fiduciary responsibilities, the degree to which plans…
…of its plan participants, in accordance with the stipulation that anyone serving as an Employee Retirement Income Security Act of 1974 (ERISA) fiduciary has the authority to control and manage the operation of a retirement plan, but must do so solely in the best interest…
…nearly 90 percent of plan sponsors do just that. But while that may be legal, it gets into a grey area when considering the Department of Labor’s fiduciary rule, which in effect says that plan sponsors are fiduciaries and, as such, must make decisions that…
…of PEPs allow the participating employers to benefit from lower fees than in traditional single employer plans. In the RFI, the DOL states: PEPs are required to designate a pooled plan provider who is a named fiduciary of the PEP. As a fiduciary, the pooled…
…contribution plans. To be eligible, GoP member plans must – among other things — be an individual account plan or defined contribution plan; operate under the same trustees; and have the same designated fiduciary or fiduciaries. GoPs are scheduled to be made available in 2022….
…employers to notify the IRS or pay a fee. Errors that cannot be resolved using the SCP often can be corrected (for a fee) under the Voluntary Correction Program. Additionally, the U.S. Department of Labor has a Voluntary Fiduciary Correction Program for certain fiduciary violations….
…that did not happen in this situation. As a result, the company’s fiduciary made distributions to the children once the employee died – without the second wife’s consent – resulting in that wife suing the company. So what can be done to address not only…
…investment line-up brings on fiduciary liability for plan officials. As with all plan investment options, plan officials are responsible for the prudent selection and monitoring of a stable value fund. Understanding the unique aspects of stable value funds is the first step in an effective…
…DEFERRED INVESTMENT ALTERNATIVE (QDIA)? When a participant fails to make an investment fund choice for their 401(k) contribution, the plan fiduciary may be required to step in and make that decision, depending upon plan options. If the plan has approved QDIA, the plan fiduciary would…
“Highlighting five trends in the capital markets and retirement industry which are expected to impact pension sponsors and retirees this year. Tax Reform Interest Rates PBGC Premiums The DOL Fiduciary Rule Exchange traded funds (ETFs) “…
“Join us as we discuss major trends creating opportunities and challenges for trust and wealth management departments. Topics include: Regulatory: The impact of the DOL Fiduciary Rule Markets: Entering an era of more modest investment returns Demographics: Adapting from accumulation to decumulation Technology: Robo Advisors…