To defend themselves against ERISA violations, plan sponsors need to understand their fiduciary obligations. As the parties generally responsible for plan oversight, benefits committees play a central role in minimizing compliance risk.
Ask an Adviser: Can terminating a defined benefit plan be more seamless?
Learn how to best position a frozen DB plan for termination.
Ask an Adviser: How do we handle late deposits on 401(k) deferrals?
The late deposit of employee 401(k) deferrals is among the most common mistakes retirement plan sponsors make. Here’s how to correct it.
How to help 401(k) plan sponsors avoid excessive fee lawsuits
To avoid class-action settlements and regulatory penalties that can cost millions, plan sponsors must ensure 401(k) fees are cost-conscious for participants. Here are best practices to consider.
What happens when you squeeze a vendor too tight
When a plan sponsor (or search specialist working on the plan sponsor’s behalf) squeezes a vendor too tight, the resulting contract may come with an attractive price tag, but it will set plan sponsors up for a downstream nightmare of quality and service issues that negatively impact both plans and their participants.
A closer look at SECURE Act 2.0’s less-talked-about provisions
What you need to know about provisions that could have a significant impact on retirement plan compliance.
How to tell if you’re paying reasonable fees for actuarial services
As a defined benefit (DB) plan sponsor, it can be difficult to determine whether the fees you are paying for actuarial services are reasonable. Here are some ways to evaluate whether actuarial fees are in line with the services provided.
Plan sponsors should do their homework before offering student loan assistance
Student loans can be a distraction that diminishes employee productivity and may prevent employees from achieving their financial wellness goals. In response, employers have recently begun introducing benefit programs designed to assist employees with their student loan debt.
(Webinar) Financial wellbeing: practical considerations and insights for employers
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 …
Pandemic sharpens focus on employee financial wellness
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.