It’s important that a 401(k) participants account is paid out in accordance with their wishes if something happens to them. We highlight three things a plan sponsor can do for their participants regarding up-to-date beneficiary designations. Retirement plan sponsors have many levers they can pull to help shape participants’ retirement…
There’s a relatively new retirement partnership that you may not know about. It’s common for employers to view health benefits and retirement benefits as separate entities. Each type of benefit offers something different to workers, and they are both governed by their own unique set of regulations. In fact, the…
Articles about financial differences between women and men often focus on the wage gap. But there’s another gap between the sexes that’s related to income and just as important to discuss. Let’s call it the retirement readiness gap. According to recent statistics, the majority of individual workers face an uphill…
A Request for Proposal (RFP) does more than help a plan sponsor select service providers for different aspects of their plan. RFPs also help meet the requirements under ERISA §404(a)(1), to act in the best interests of the plan participants and to document the methodology used to establish a process…
Last year was a busy one for class action lawsuits and settlements against plan fiduciaries and it looks like 2016 is shaping up to be more of the same. Three new and notable class action lawsuits against retirement plan sponsors were filed within the past couple of months. The complaints…