Retirement Plan Rollover Chart
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General Items Retirement Plan Rollover Chart Summary: This is an updated chart of what the Internal Revenue Service regards as permissible when rolling funds over from one type of retirement account to another. Source: 401khelpcenter.com Why 401k Investor Education Doesn't Work, and How to Change That Summary: You go to get the oil changed in your car. You wait a few minutes, and finally the guy with the name patch on his shirt saunters up and throws a grease-covered manual at you and says, "Here. Do it yourself." That's a bit like what's happening to plan participants these days. Here's your 401k and individual retirement account, a few pie charts, a menu of investments and good luck to you. Author suggests financial education is simply not working. Here's why, and how we can fix it. Source: Usnews.com Summary: Cash Balance Plans have been around for many years. But, it was not until the passage of the Pension Protection Act of 2006 that plan sponsors finally received a green light to implement cash balance plans without fear. Since then, these plans have regained popularity, especially among small- to mid-sized professional businesses. Source: Manning-Napier.com The Debate Over ETFs in 401k Plans Summary: Exchange-traded funds are one of the fastest-growing segments of the financial services industry. But they have been very slow to catch on with retirement plans. Some industry insiders believe retirement plan providers have been slow to include exchange-traded funds in 401k plans because, unlike mutual funds, ETFs don't offer revenue sharing as do mutual funds. Source: Institutionalinvestor.com
403(b) Plans New Same Gender Marriage Guidance: Effect on 403(b) Plans Summary: While the Windsor decision and the related IRS guidance (including the effective date rules in Notice 2014-19) apply to 403(b) plans, the effect is more limited than with qualified plans because relatively few rules dealing with 403(b) plans deal with spouses. Source: Relius.net
Fiduciary and Plan Governance Material Summary: Author writes, "There's often a boat load of conflicts hidden in the fine print of your 401k or pension plan. Many of these conflicts are hidden from plain sight because your employer and fund managers don't want you to know about them.... Here are the four worst conflicts." Source: Forbes.com Fiduciary Duty and Investment Advice: Attitudes of Plan Sponsors Summary: This AARP survey of employers that sponsor retirement savings plans examines a range of issues related to investment advice available to plan participants from the financial institutions that provide their plan. It reveals widespread support for holding advice to a "fiduciary" standard; that is, requiring advice offered by DC providers to individual plan participants to be in the best interest of the participants. Source: Aarp.org ERISA Fidelity Bond and Fiduciary Liability Insurance: What's Required and What's Prudent? Summary: If you are a fiduciary with respect to your company retirement plan, you are personally liable for any losses incurred by the plan due to a fiduciary breach. Consider the dollar value of assets in your plan and the degree of your personal liability. How do you protect yourself, as well as the plan participants, from losses due to fraud or dishonesty? Source: Aktrps.com The Teflon Fiduciary: Could Your Adviser Avoid Responsibility for Bad Advice? Summary: A significant decision on fiduciary status has just been issued by the Court of Appeals for the 5th Circuit. Tiblier v. Dlabal which created what the author calls the "Teflon Fiduciary." This decision deserves lots of attention because it provides a blueprint for investment advisers to avoid responsibility for self-dealing and bad advice. Source: Pensionsbenefitslaw.com
Insight: Studies, Research and White Papers Why Every Retirement Committee Needs a Custom Charter Summary: A retirement committee without a charter is like a ship without a navigator -- the crew would not know where they are going or how to get there. Unfortunately, many retirement committees do not have a charter, and even those that do often find that it fails to provide adequate guidance because it is not specific enough to the organization. In the interest of sound organizational and plan governance, every retirement committee should have a custom charter that provides a framework for meeting its responsibilities. Source: Sibson.com The Retirement Savings Crisis and the Limits of Soft Paternalism Summary: The migration of American retirement savings from centralized, risk-pooling structures (Social Security and pensions) towards individual retirement plans (401k plans and other tax-favored, individually managed accounts) has had collateral consequences. This Article argues that each of these soft interventions has failed and will continue to fail in improving the allocation of retirement portfolios. In particular, soft interventions are undermined by particular aspects of the retirement-allocation decision -- including pervasive conflicts of interest in the mutual fund and retirement advisory industry, inherent difficulty, and legitimate uncertainty. Source: Ssrn.com
Target-Date Funds Fiduciary Handbook for Understanding and Selecting Target-Date Funds Summary: Target-date funds are a good idea that could become a great idea. This book on understanding and selecting target-date funds is written primarily for pension consultants. It contains 51 pages in ten chapters. Each chapter has three sections: a statement of facts, legal guidance, and an ethical perspective. Source: Targetdatesolutions.com Target-Date Funds: Looking Beyond the Glide Path Summary: A target-date fund's glide path, or how its asset allocation changes over time, is critical to helping shape outcomes for TDF investors, which in turn makes the TDF glide path an important aspect for plan sponsors to focus on in conducting due diligence. In this paper, authors explore key factors that go beyond the construction of TDF glide paths. Source: Vanguard.com Target-Date Funds Continue to Draw Assets in Retirement Plans Summary: Defined Contribution plan participants reduced their holdings in fixed income and increased allocations to U.S. small-cap and mid-cap equities in 2013, while target-date funds continued their steady climb as a top asset class, according to the second annual edition of Northern Trust's Defined Contribution Tracker. Source: Northerntrust.com
Court, Legal, Legislative and Washington DC Attorneys Make Predictions on Fee Litigation, Questions of Constitutional Standing Summary: Plan fee litigation, questions of constitutional standing and the fate of the pro-fiduciary presumption of prudence are the big issues currently driving fiduciary litigation under the Employee Retirement Income Security Act, practitioners said during a webcast. Source: Bna.com
Compliance and Regulatory Related Plan Design After United States v. Windsor: What Happens When Employers Ask and Employees Tell Summary: This article considers some of the issues employers will need to address with respect to their retirement, health and welfare plans in response to the Windsor decision. Source: Aon.com New Same Gender Marriage Guidance: Retroactive Effect Summary: The IRS promised future guidance with regard to amendment deadlines and the retroactive effect of the Windsor decision for retirement plans. They just released Notice 2014-19 to provide that promised guidance and this article deals with the retroactive effect. Source: Relius.net Two New Safe Harbor Procedures for Rollovers to Qualified Plans Summary: IRS Revenue Ruling 2014-9 provides two new, simplified safe harbor procedures an administrator of a qualified retirement plan under the Internal Revenue Code may use in order to be deemed to have reasonably concluded that an amount is a valid rollover contribution. Source: Practicallaw.com
Marketplace News Aon Hewitt Teams With HelloWallet NAPA Names Top 75 DC Industry Wholesalers TRA Introduces Retirement Resources App 401k Investor Website Launches ERISA SMART Adds TPA Services to Product Line Blue Prairie Group Adds to Consultants Network Pensionmark Continues Expansion With New California Location TRI-AD Offers AdvicePlus to Retirement Plan Participants OneAmerica Launches OneSolution Platform America's Best 401k Releases 'Plan Fee Checker' MassMutual Unveils Enhanced RetireSmart Participant Website BenefitsLink.com Launches iPad, iPhone App DCIIA Held First DC Auto Features Town Hall
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