Confirming marital status when a participant dies is an important part of a plan administrator’s responsibilities, but it takes legwork and personalized attention. Here are some tactics we have used with great success.
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.
Given the SECURE Act’s broad scope and nuanced provisions, how should plan sponsors prioritize their responsibilities under the new law? Here’s a systematic approach for developing a SECURE Act plan of action.
Periodic checkups can keep plans running smoothly and help plan sponsors identify issues early, before those become difficult and expensive to correct. Such audits come in two varieties—transactional audits and operational audits.
The SECURE Act has been signed into law by President Trump. The law’s provisions, most of which go into effect January 1, will affect the way DC and DB plans are administered in 2020 and beyond.
The onus of safeguarding plan participants from fraud does not fall solely on the recordkeeper. Both DC plan sponsors and recordkeepers need to agree on fraud-resistant processes that are clearly documented, rigorously implemented and consistently followed. Here are a few tips.
Now poised to pass the Senate, the SECURE Act — as part of Congress’s omnibus spending bill — could be inked by the President as soon as week’s end. It represents the most significant retirement legislation in more than a decade.
Every year, 3.8 million people in the U.S. reach retirement age. How can plan sponsors help workers get ready? Offering a retirement readiness program that considers employees’ emotional, financial and healthcare needs can go a long way toward helping them prepare.
Passed by the House with a nearly unanimous margin of 417 yeas to 3 nays this June, and despite holding the consent of 97 of 100 senators, the SECURE ACT may not be passed by the Senate in 2019. Here’s the latest.
The benefits outsourcing market is evolving rapidly, making it hard for plan sponsors to know what to look for — and who to consider — when preparing RFPs for the outsourcing of defined benefit, defined contribution, health and welfare and nonqualified benefits. Here are some tips.
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