Employer Retirement Plans Comparison Table
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In This Issue
General Items
Employer Retirement Plans Comparison Table for Small Businesses - 2015 Plan Year Summary: This four page table provides a comparison of the features and benefits that apply to retirement plans that can be sponsored/adopted by small business owners. Focus on the areas that are important to the business owner, so as to help ensure that the plan that is chosen is the plan that is most suitable for the business.
Source: Retirementdictionary.com
Six Things 401k Plan Sponsors Need to Do Now Summary: January may be flying by, but the New Year is still fresh. This is still a great time to make sure that the qualified 401k plan you offer your employees helps them effectively save for retirement and remains qualified. Not sure where to start? Here are six ways to get the most out of your 401k plan.
Source: Deardrebit.com
Fiduciary and Plan Governance Material
Monitoring 401k Investments Doesn't End Summary: The pivotal question under review by the Supreme Court is whether an imprudent fund selection decision by retirement plan fiduciaries constitutes a one-time breach or triggers a succession of breaches if the fiduciaries fail to address the imprudent position during investment-monitoring activities.
Source: Investmentnews.com (free registration may be required)
Patent Infringement Lawsuit Reminds ERISA Fiduciaries to Monitor Service Providers Summary: In August 2014, GRQ Investment Management sued Financial Engines on patent infringement issues. While the court dismissal with prejudice GRQ's claim, the lawsuit is an important reminder of the fiduciary duty to carefully select and periodically monitor ERISA plan service providers.
Source: Mcguirewoods.com
Insight: Studies, Research and White Papers
ICI Survey Finds Americans Oppose Changing Tax Incentives for 401k Saving Summary: A strong majority of U.S. households, including those with and those without retirement plan accounts, disagree with proposals to remove or reduce tax incentives for retirement saving in defined contribution (DC) accounts, including 401k accounts, according to new survey findings by the Investment Company Institute.
Source: 401khelpcenter.com
Target Risk Funds: A Substitute for TDFs? Summary: Target risk funds and target-date funds are two types of mutual funds that make the asset allocation decision for an investor. This article is the first comprehensive study of their characteristics and performance and how they compare to target-date funds as an investment vehicle.
Source: Ssrn.com
2014 Plansponsor DC Survey: Plan Benchmarking Summary: The retirement plan industry's reinvigorated focus on fees has been a positive development overall for plan participants, leading to better prices and greater transparency. Article looks at the big picture in plan fee benchmarking.
Source: Plansponsor.com
Items of Special Interest to Service Providers
White House Memo Offers a Peek at DOL Fiduciary Strategy Summary: The White House believes that many retirement plan participants aren't adequately protected from advisors with conflicts of interest. That's why President Barack Obama's chief economic advisor supports the DOL's effort to amend the definition of fiduciary in retirement plans.
Source: Thinkadvisor.com
As an RIA, Shouldn't You Be Offering 401k Plans? Summary: Many RIAs weigh expanding deeper into the retirement plan business, but decide it might not be worth their while. Often they think that increasing the number of plans they service might take away from the productivity and profitability among core advisory clients; many also believe that it's not a profitable business. Those that do may be missing new business opportunities.
Source: Financial-Planning.com
Plan Automation
Companies Improving Automatic Features in 401k Plans Summary: To improve the long-term financial outlook for workers, a new survey from Aon Hewitt reveals that the majority of companies now offer automatic features in their 401k plans to ensure that workers are saving enough to receive full company matching contributions over time.
Source: 401khelpcenter.com
Legislative and Washington DC
White House Unveils Sweeping Retirement Proposals Summary: The Administration is touting a series of retirement tax reform proposals that they claim would give 30 million additional workers access to a workplace savings opportunity.
Source: Asppa.org
Call to Limit 401k Contributions by "Wealthy" Is Contentious Summary: President Barack Obama outlined his plans to reduce many tax deductions for those deemed to be "the wealthiest Americans" in order to fund his new spending proposals. Among the most controversial of these items, and one that's generating criticism from many in the employee benefits community, is the president's proposal to (as a White House fact sheet put it) "Prevent wealthy individuals from using loopholes to accumulate huge amounts of tax-favored retirement benefits."
Source: Shrm.org
Compliance and Regulatory Related
Service Provider Anti-Fraud Controls Summary: This 1:31 minute video reminds plan sponsors that your service provider's transactions are an extension of your plan's transactions. It suggests you ask your provider this question: What anti-fraud controls do they have in place to protect my plan?
Source: Erisasunscreen.com
Possible "Window" for Delivery of Participant Fee Disclosures Summary: The DOL submitted change to their fee disclosure regulation to the Office of Management and Budget for review and approval. The change would provide a "window" period for delivering fee disclosures for participant-directed individual account retirement plans.
Source: Xerox.com
DOL Announces Changes for Form 5500 for 2014 Summary: Although the filing date for the DOL's Form 5500 is still several months away, 401k and 403(b) plan sponsors should take a few minutes to become familiar with the changes, which are outlined in this article, that have been made for the 2014 reporting year.
Source: Strategicbenefitservices.com Summary: The 2014 ERISA Advisory Council examined recent movement of participant assets out of DC and DB plans, and into retirement accounts not covered by ERISA, such as IRAs or other savings accounts, or as plan distributions. Based upon testimony received during two days of hearings, this report provides ideas for plan administrators and plan participants, including communications strategies and plan design options to facilitate lifetime retirement plan participation.
Source: Dol.gov
ERISA Advisory Council Report on Outsourcing Employee Benefit Plan Services Summary: The 2014 ERISA Advisory Council examined the role that outsourcing plays in helping plan sponsors and other ERISA plan fiduciaries meet the increasingly complex task of managing and administering their employee benefit plans. This is their report with recommendations.
Source: Dol.gov
Marketplace News PSCA Re-Launches ERISA Fiduciary Training Program Broadridge to Acquire Wilmington Trust Unit Pinnacle Plan Design Expands Into New York Market BrightScope Launches AdviceMatch Stable Value Investment Association Launches Public Education Campaign Retirement Revolution Names BPO Partner Implementation Manager
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