Defined Contribution (DC) Plan | Strategic Benefits Advisors

A retirement plan where employers, employees, or both make regular contributions, and future benefits are based on how much money goes into the plan and how the plan’s investments perform. DC Plans provide an individual retirement account for each participant, with employees bearing the risk of investment losses. The 401(k) is a well-known example of a DC Plan.

SBA publishes guidance on which CARES Act provisions require immediate action by health and retirement plan sponsors
Plan sponsors will need to coordinate with healthcare providers immediately to begin complying with the law's mandatory provisions. While most retirement plan provisions are optional, they are nonetheless time-sensitive and call for coordination with the plan sponsor's recordkeeper and actuary.
Strategic Benefits Advisors offers guidance for plan sponsors as they seek to comply with landmark SECURE 2.0 retirement legislation
SBA's approachable yet informative summary identifies the SECURE 2.0 provisions that will have the greatest impact on defined contribution (DC) plan sponsors now and for the next several years.
SECURE 2.0: Guidance for retirement plan sponsors for 2023, 2024 and beyond
The question is not whether the new legislation impacts plan sponsors, it’s which of the more than 90 provisions apply to them and when do they take effect.
Plan sponsors could consider a different solution to provider woes
Occasional employee complaints about a benefit plan are inevitable. But when they become a regular occurrence, it can point to more significant problems with a plan administrator or other vendor. Companies that find themselves in this position have several options — including an often-overlooked option that we call "vendor recovery."
Consultants

Related Terms:

Term: Participant