(Photo: Peshkov/Adobe Stock) Many business owners tend to think of 401(k)s as the standard retirement plan solution, but it might not always be the right solution. There are different retirement plan options available to meet a variety of business needs, each offering tax benefits to employers and, in some cases,Read More →

“These investments present significant risks and challenges to participants’ retirement accounts, including significant risks of fraud, theft and loss.” The caution comes as the DOL has seen an increase in the number of companies marketing crypto investments for 401(k) plans in the recent past. The department’s Employee Benefits Security AdministrationRead More →

Plan sponsors should consider changing the information architecture to frame savings rates to boost saving among DC pension plan members and close coverage gaps among demographic cohorts, according to industry experts. New looking for scholars and Voya Financial provides additional context for considering change. The research, “Reducing Savings Gaps ThroughRead More →

New to ClassAction.org? Read our newswire disclaimer A proposed class action lawsuit alleges that Taylor Corporation and its board of directors and trustee investment committee failed to prudently manage the company’s employee pension plan. According to the 46-page case, the defendants breached their fiduciary duties to 401(k) participants and beneficiariesRead More →

WASHINGTON DC – Bipartisan legislation to remove a barrier preventing lifetime income products as the default investment choice in retirement plans was introduced today. The Employee Lifetime Income Act, introduced by Rep. Donald Norcross (DN.J.) and Rep. Tim Walberg (R-Mich.), would allow pension plan sponsors to use lifetime income solutionsRead More →

Last week, on January 24, the United States Supreme Court issued its much-anticipated decision in Hughes v. Northwestern University, unanimously ruling that pension plan trustees have a duty to continuously monitor pension plan investment options and remove any imprudent ones. In its opinion, the Supreme Court made it clear thatRead More →

HDFC Life recently unveiled its new policy, the HDFC Life Systematic Retirement Plan, to help investors manage their annual inflation-adjusted cost of living after retirement. It is an unrelated and non-participating individual / group deferred savings annuity plan that allows you to systematically build up your retirement savings while offeringRead More →

Pandemics, political and political changes, volatile investment markets — another year under the belt. WealthManagement.com asked several pension industry leaders for their thoughts on the most important developments of the past year for plan advisors. Wealth Management: What do you think are the main developments that have affected the workRead More →

This year, according to Institute of Investment Companies. These include employer-sponsored retirement plans (both defined benefit and defined contribution plans), individual retirement accounts (IRAs), and annuities. Contributor Depositphotos.com/Depositphotos.com – MarketBeat That’s a lot of money. But do these numbers reflect the amount you have saved? Do you have your ducksRead More →

NEW YORK – (BUSINESS WIRE) – December 1, 2021– Bartholomew Consolidated School Corporation in Columbus, Ind. selected Fair, a leading financial services organization and primary franchise of Equitable Investments Inc. (NYSE: EQH ), as the sole provider of its 403 (b) and 401 (a) supplemental pension plans after a competitiveRead More →

NEW YORK – (BUSINESS WIRE) – December 1, 2021– Bartholomew Consolidated School Corporation in Columbus, Ind. selected Fair, a leading financial services organization and primary franchise of Equitable Investments Inc. (NYSE: EQH ), as the sole provider of its 403 (b) and 401 (a) supplemental pension plans after a competitiveRead More →

NEW YORK – (BUSINESS WIRE) – December 1, 2021– Bartholomew Consolidated School Corporation in Columbus, Ind. selected Fair, a leading financial services organization and primary franchise of Equitable Investments Inc. (NYSE: EQH ), as the sole provider of its 403 (b) and 401 (a) supplemental pension plans after a competitiveRead More →

NEW YORK, December 01, 2021– (COMMERCIAL THREAD) – Bartholomew Consolidated School Corporation in Columbus, Ind. selected Fair, a leading financial services organization and primary franchise of Equitable Investments Inc. (NYSE: EQH), as the sole provider of its 403 (b) and 401 (a) supplemental pension plans after a competitive bidding process.Read More →

BALTIMORE, November 16, 2021 / PRNewswire / – Transamerica and FuturePlan by Ascensus today launched an innovative new group plan retirement solution called FuturePlan GPS (Group Plan Solution). FuturePlan GPS makes it easier for employers to sponsor a pension plan by reducing tedious administrative burdens and mitigating fiduciary risk. WithRead More →

CHICAGO, Oct.28, 2021 / PRNewswire / – HUB International Limited (Hub), one of the world’s leading full-service insurance and financial services brokerage firms, announced that it has won the Multiple Employer Plan (MEP) contract for the National Association’s Pension Plan of Manufacturers (NAM) for its more than 14,400 member companies.Read More →

HUB Wins Retirement Plan for National Manufacturers Association Retirement Plan Tweet this According to a recent study, 83% of small and medium-sized businesses consider pension plan offerings essential to attract and retain employees, and 58% say benefits can help improve productivity in the workplace. As the industry continues to faceRead More →

RADNOR, Pa .– (COMMERCIAL THREAD)–Today, Lincoln Financial Group (NYSE: LNC) announced that it is improving its retirement plan options by launching a Common Employer Plan (PEP), OpenPEP, in conjunction with NPPG Plan Professionals, a subsidiary of National Professional Planning Group, Inc. (NPPG ) and Morningstar Investment Management LLC, a subsidiaryRead More →

While they are one of the fastest growing Demographics in the country, Hispanic workers face major challenges in allocating enough money for retirement savings compared to other groups. In the report “A closer look at the finances of Hispanic American households”, Behavioral researchers at Morningstar looked at the underlying causesRead More →

About a year ago, the Trump administration tightened the rules that dealt with ESG investments as “suspect” in pension plans. The DOL added new language continuing to reinforce the idea that ESG blurs the line between what is acceptable and non-compliance with the fiduciary standard. However, that is about toRead More →

Hughes v. Northwestern Univ. n ° 19-1401,953 F.3d 980 (7th Cir. 2020),cert. allowed, 2021 WL 2742780 (US July 2, 2021) Oral argument scheduled for December 6, 2021. Problem: Are allegations that a defined contribution pension plan paid or charged its members a fee that significantly exceeded the fee for theRead More →

United States: On the Horizon – New Pension Design Opportunities! Meet: “Securing A Strong Retirement Act Of 2021”, Aka “SECURE 2.0” September 13, 2021 Bryan Cave Leighton Paisner LLP To print this article, simply register or connect to Mondaq.com. Important legislation is being drafted in the House that promises toRead More →

In the wake of the Setting Every Community Up for Retirement Enhancement Act (SECURE) of 2019, there is currently broad bipartisan support in Congress for additional pension legislation providing incentives to increase employee retirement savings. . The House and Senate have drafted essentially similar bills that are being drafted inRead More →

A bill allowing workers to make student loan repayments while their employers make matching contributions to their defined contribution accounts was reintroduced in the Senate on Thursday. Under the Pension Parity Act for Student Loans, employers are allowed to make matching contributions to workers’ 401(k), 403(b), and SIMPLE and governmentRead More →

(Photo: Shutterstock) The COVID-19 pandemic has had a noticeable impact on higher education institutions and their employees, and as a result, pension policymakers are looking to bolster their financial wellness plans to help employees feel more in control of their finances. Additionally, as plan sponsors seek to reduce complexity andRead More →

As many people struggle to overcome the financial setbacks caused by the COVID-19 pandemic, more employers are focusing their efforts on helping employees improve their financial well-being and save for the future. . An October 2020 study from the Employee Benefit Research Institute reveals that more and more employers areRead More →