Mercer Outlines 2017 Top Priorities for DC Plan Sponsors
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Insight: Studies, Research and White Papers Mercer Outlines 2017 Top Priorities for DC Plan Sponsors Abstract: The changing needs of individuals and an evolving regulatory landscape requires plan sponsors to reassess their defined contribution plans. Mercer suggests that DC plan sponsors prioritize eleven areas for 2017. Source: 401khelpcenter.com PSCA Releases Results of 59th Annual Survey of Profit Sharing and 401k Plans Abstract: Participation and deferral rates in Defined Contribution Profit Sharing and 401k Plans posted steady increases in the most recent annual survey published by the Plan Sponsor Council of America. Respondents to the survey report that almost 90 percent of US employees are eligible to participate in their employer's DC plan. The average percentage of eligible employees who have a balance in their plan is 87.6 percent, and 81.9 percent made contributions to their plan in 2015. This is up 5 percent over 2010. Source: 401khelpcenter.com 2016 PLANSPONSOR DC Investment Survey Abstract: This year's PLANSPONSOR/Janus Capital Group survey of plan sponsors' approaches, attitudes and intentions show a shift in focus from fiduciary risks and duties to the importance of fees. Is this a good thing? Maybe. Or maybe not. Source: Rackcdn.com Extensive Plan Data Reveal Key Design Features and Trends Abstract: A new in-depth study of 401k plans by BrightScope and the Investment Company Institute finds that the great majority of employers that sponsor 401k plans -- more than three-quarters -- contribute to their plans, using a range of formulas when they provide matching contributions. The report, released today, also reveals that plans offer a wide variety of investment choices and that mutual fund fees in 401k plans have trended down. Source: 401khelpcenter.com »» Click here for More Studies, Research and White Papers 403(b) Plans A Glimpse Into 403(b) Plan Trends Abstract: New 10-page Plan Sponsor Council of America survey highlights fiduciary awareness. PSCA's 2016 403(b) Snapshot Survey reflects responses from 281 not-for-profit organizations that currently sponsor a 403(b) plan. Source: Psca.org »» Click here for More 403(b) Material Fiduciary and Plan Governance Material Adopting a Fiduciary Governance Program Abstract: This article discusses establishing a program for fiduciary governance, a program that defines the roles and responsibilities of those who oversee and manage your corporate retirement plan, as well as processes and tasks for their committee meetings. Source: Alliantwealth.com Services to Look for From Recordkeepers Abstract: Selecting a recordkeeper is critical for retirement plans. They provide a variety of services and plan sponsors and advisers should look for the ones most important to them and their participants. Source: Planadviser.com »» Click here for more Fiduciary and Plan Governance Material Items of Special Interest to Service Providers Practice Development: Best Practices When Managing Your Staff Abstract: In the success of your firm, equally important to free cash flow, is the people. You need to make sure you have the right people on your team. This article reviews a number of best practices when hiring and managing your staff. Source: Planadviser.com Court and Other Legal Issues Process Remains Critical Factor in ERISA 401k Plan Litigation Abstract: A recent decision by the Northern District of California provides a welcome counterpoint in the fact that a detailed complaint has been filed alleging various breaches of the duty of loyalty and duty of prudence does not mean that there was any breach of fiduciary duty whatsoever. Source: Wagnerlawgroup.com Edison Workers' 401k Fee Challenge Revived by Ninth Circuit Abstract: Edison International workers convinced an appeals court to revive their claim accusing the company of breaching its ERISA fiduciary duties by failing to monitor allegedly high fees charged in the company's 401k plan. Source: Bna.com (registration may be required) DOL Files Lawsuit to Appoint Independent Fiduciary to Administer 401k Abstract: The DOL is seeking the removals of Hidebumi Minagawa as plan administrator and trustee, and of Hailu Solomon as trustee, and the appointment of an independent or successor fiduciary with discretionary authority to administer the plan in order to effectuate its termination and the distribution of the plan's remaining assets. Source: Dol.gov Hotel Giant Starwood Hit With 401k Fee Class Action Abstract: Starwood Hotels & Resorts Worldwide is the latest company accused of breaching its fiduciary duties by layering up its 401k plan with high-priced, poorly performing investment options. Source: Bna.com (registration may be required) »» Click here for more Court and Other Legal Issues Legislative and Washington DC The Legacy of DOL's Champion for Employee Benefits Abstract: Phyllis Borzi has one month to go in office as assistant secretary for the Department of Labor's Employee Benefits Security Administration, but stacks of files are still heaped on her desk and on the floor. Source: Bna.com (registration may be required) A Financial Services Regulation Wish List for the Trump Administration Abstract: Ron A. Rhoades, J.D., CFP(R), is an Asst. Professor of Finance at Western Kentucky University's Gordon Ford College of Business, where he serves as Director of its Financial Planning program. This is his five-point financial services regulation wish list for the Trump administration. Source: Sscholarfp.blogspot.com »» Click here for more on Legislative Actions Compliance and Regulatory Puerto Rico Treasury Announces Key Benefit Plan Limits for 2017 Abstract: Puerto Rico's secretary of Treasury has announced the qualified retirement plan limits for 2017. Plan sponsors should ensure that documents and employee communications are updated to reflect the adjusted 2017 limits, and take steps to apply these limits properly in the administration of Puerto Rico qualified or dual qualified retirement plans. Source: Xerox.com IRS Simplifies User Fee Relief for Small Employer Plan Determination Letter Requests Abstract: The IRS has issued a notice simplifying the requirements for certain small employers to avoid paying a user fee when submitting recently established retirement plans (including 401k plans) for determination letters. Source: Thomsonreuters.com »» Click here for more Compliance and Regulatory Material Marketplace News Orion Launches Fee-Benchmarking Tool ERISA Plan Services and FinTrust Investment Advisors Merge The Wagner Law Group Opens D.C. Office ERISA Attorney Dan Brandenburg Joins The Wagner Law Group Lockton Retirement Expands Northeast Practice New Tool for IRAs to Help With Fiduciary Rule Compliance Ascensus Announces Acquisition of Matthews Benefit Group Jason Miller Joins Pentegra as Regional Director »» Click here for More Marketplace News
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