Below you'll find a list of all posts that have been tagged as “defined benefit (pension) plans”
Program length: 60 minutes Register and view now (available through March 2021) Interest in financial wellbeing programs hit a fever pitch after the pandemic-related events of 2020 exposed weaknesses in employees’ preparation and readiness for volatile economic circumstances. Industry research confirms that financial wellbeing has become a topic of considerable interest to employees and a top priority for many organizations. Evaluating potential …
COVID-19 has made financial wellness a hot topic in 2020 as employees seek to become more financially resilient. Here are some initial steps plan sponsors can take to gauge how well employees are using their existing benefits and determine whether additional financial wellness benefits are called for.
“Free implementation” has become a ubiquitous element of benefit plan administration proposals. The appeal to plan sponsors is understandable, but rest assured, with free implementation, you get what you pay for. Understanding the true cost of implementation will help plan sponsors evaluate potential benefit administrators and initiate the implementation process with eyes wide open and a more realistic budget.
Each phase of pension plan termination involves numerous decision points and incredible amounts of data-crunching.
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.
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 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.
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.
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.
