Plans That Work With a Professional Retirement Plan Advisor Are More Successful
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Newsletter Sponsor Plan Now for CFDD's 2014 Advisor Conference The CFDD's October 15-17, 2014 Advisor Conference, Enhancing Margins, Enterprise Value & Motivating Sponsors to Implement Your Recommendations, is the premier education and networking event for the retirement plans advisory industry. Hosted on the cost effective, culturally rich and networking friendly San Antonio River Walk, CFDD '14 offers more content, CE credits, and value than any other industry event. Click here to learn more.
Insight: Studies, Research and White Papers Plans That Work With a Professional Retirement Plan Advisor Are More Successful Summary: This study of 400 employers that sponsor a 401k or 403(b) plan found that sponsors who partner with a Professional Retirement Plan Advisor enjoy superior outcomes in many areas. In particular, partnering with a Professional Retirement Plan Advisor entirely dedicated to retirement plans helps plan sponsors enhance the retirement readiness of employees. Source: Retirementadvisor.us Study: Employees Value Benefits More Than Ever Summary: Guardian announced the results from the second annual Guardian Workplace Benefits Study, aimed at measuring the perceived value of employee benefits among American workers. The study reveals that while employees are placing greater value on their workplace benefits, employers are looking to control costs by asking workers to shoulder increasing responsibility for their coverage. Source: 401khelpcenter.com Few Use Robust Digital Tools to Address Challenges DC Plan Sponsors Face Summary: Just a few leading recordkeepers address the challenges DC plan sponsors face with robust digital tools to help them embrace their fiduciary role, increase enrollment in plans and motivate their workforce to boost their preparation for retirement, a new study of DC plan sponsor websites from Kasina finds. Source: 401khelpcenter.com The Math of 401k Plans -- What You Need to Know Summary: This infographic provides insights into what most people really don't know about the effects of investment-related costs in 401k plans, and what you can do about it. Source: Americasbest401k.com Study Uncovers Shifting DB Plan Sponsor Attitudes Summary: Bundled Defined Benefit and Total Retirement Outsourcing opportunities remain a strategically viable market for retirement service providers over the next five years according to Chatham Partners' most recent "DB and Total Retirement Outsourcing Insight Survey." Source: 401khelpcenter.com SIMPLE IRAs vs. Safe Harbor 401k Plans: What Are the differences? Summary: Savings Incentive Match Plans for Employees (SIMPLEs) are frequently mentioned as a low cost alternative to 401k Safe Harbor Plans for providing employees the opportunity to save for retirement. This chart compares the differences between SIMPLE IRAs and Safe Harbor 401k Plans. Source: Consultrms.com
403(b) Plans Survey to Identify 403(b) Plan Best Practices and Key Trends Summary: Non-profit organizations that sponsor 403(b) plans have an opportunity to find out how their retirement program compares to others across the nation by participating in the 2014 Plan Sponsor Council of America (PSCA) 403(b) Plan Survey. Source: 401khelpcenter.com
Fiduciary and Plan Governance Material Retirement Plan Committees for 401k and 403(b) Plans Summary: A retirement committee of members who have a thorough knowledge of the plan and its provisions enables the plan sponsor to demonstrate compliance with fiduciary requirements. No matter the size of your retirement plan, it is a good idea to form a retirement plan committee. This article provides a few suggestions for items of discussion by committee members. Source: Consultrms.com
Items of Special Interest to Advisors Research Reveals Opportunities for Retirement Plan Focused Advisors Summary: Financial professionals who want their practices to flourish should deepen their retirement plan knowledge and focus. The greater the financial professional's retirement plan know-how, the better the plan's results -- and the higher the client ratings. That's according to retirement plan sponsors surveyed by the Retirement Advisor Council. Source: 401khelpcenter.com Schwab Shoos $25 Billion of Client Assets Out the Door Summary: It is almost unthinkable to fire $25 billion of 401k clients that you paid more than $100 million for. But decisions need to be forward-looking and take into account changed circumstances. This turn of events at Schwab is a reminder just how much the 401k market has changed and why RIAs need to be alive to its possibilities. Source: Riabiz.com Yale Law Professor Again Targets Industry Fees Summary: Ian Ayres, a lawyer and economist serving as the William K. Townsend Professor at Yale Law School, may be familiar to industry members and observers from a curious series of events that unfolded in mid-2013. The professor is again making waves in the retirement industry with the release of a study arguing plan sponsors tend to establish investment menus that encourage under performance. Source: Planadviser.com
Court, Legal, Legislative and Washington DC More States Look to Mandate Retirement Plans for Private Employees Summary: Lawmakers in Maryland and Wisconsin are working to make retirement plans more readily available to private sector employees. Their efforts follow recently enacted California legislation that requires employers to contribute 3% of a worker's salary to a retirement account. Source: Benefitnews.com Morgan Stanley Dodges a Bullet: ERISA Lawsuit Dismissed Summary: A proposed ERISA class action lawsuit filed against Morgan Stanley was dismissed in the Southern District of New York. Morgan Stanley, the broker to the Skin Pathology Associates, Inc. 401k Profit Sharing Plan, was alleged to have received unreasonable compensation because of a "pay to play" or "kickback" scheme involving the plan's recordkeeper. The court, citing the new ERISA 408(b)(2) regulations, found that although a claim could be brought against a non-fiduciary broker like Morgan Stanley, here the additional compensation had been disclosed to the plaintiffs. Thus, as a consequence, no claim could be brought against Morgan Stanley as a party in interest. Source: Fraplantools.com ASPPA Not Happy With Rep. Camp's Tax Reform Proposal Summary: ASPPA CEO/Executive Director Brian Graff said, "We were very disappointed to see these provisions in the proposal.... [We] must strongly oppose this tax reform proposal given its negative impact on American workers' retirement security." Source: 401khelpcenter.com
Compliance and Regulatory Related Disposition of Forfeitures in 401k and Other Defined Contribution Plans Summary: In the event the plan document allows forfeitures to be utilized by plan sponsors to pay plan expenses or fund employer contributions, forfeitures are often "found money" that helps the company's cash flow. But, there may be consequences for plans that do not properly dispose of forfeitures according to the terms of the plan document. Source: Eisneramper.com Mass. Opens Inquiry Into 401k Year-End Matching Shift Summary: The Massachusetts Securities Division is calling on 401k plan administrators to report how many companies have shifted to a lump-sum matching contribution once a year. The unit sent a letter to the 25 largest providers of 401k plans, requesting the number of employers who pay distributions at year-end, when the move was made from more frequent payroll periods and what workers are told about the potential consequences. Source: Businessweek.com Video: Participating in Multi-Employer Plans Summary: The FASB's Accounting Standards Update 2011-09, which essentially became effective for non-public entities for calendar year 2012, required entities that participate in multi-employer plans to provide more robust disclosure in their financial statements. Watch this quick, two-minute video to learn examples of this requirement. Source: Erisasunscreen.com
General Items "Experienced" Plan Provider Can Mean a Lot of Things Summary: Plan sponsors need to work with experienced financial advisors, third party administration firms, and ERISA attorneys on their plan needs. But like with reasonable fees, the term "experienced" is vague. Levels of experience may vary, but it's important to find the retirement plan provider with the right level for your needs. Source: Jdsupra.com Debt and 401k Retirement Savings Summary: Since debt continues to be the number one reason most workers don't participate in their 401k, we want to give you some simple tips on how to start funding your retirement savings and some guidelines for controlling your debt. Source: 401khelpcenter.com
Marketplace News Hubbell Consulting Expands Investment Team America's Retirement System Offering Dave Ramsey Financial Literacy Course Integrated Wealth Management Expands Into Idaho ESOP Specialist GreatBanc Trust to Acquire North Star Trust Slaughter 401k Rebrands as RPS Retirement Plan Advisors Broadridge Launches 'Retirement Advisor Intelligence' Wells Fargo Integrates 401k, Checking, and Other Account Information Fidelity Reports 78% Growth in Workplace Managed Account Business Pensionmark Expands Network Into San Joaquin Valley
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