- Date
- Author
- All
- Employee Benefit Advisor
- Employee Benefit News
- BenefitsLink
- BenefitsPRO
- Parents Magazine
- PLANSPONSOR
- SHRM
- All
- artificial intelligence (AI)
- benefits administration
- brokers
- chatbots/ smartbots
- data errors/ clean-up
- data security/ cybersecurity
- DOL
- ERISA
- financial wellness/ retirement readiness
- FSA
- group annuities
- HSA
- lost participants/ beneficiaries
- lump-sum window
- M&A
- multi-factor authentication
- nondiscrimination testing
- outsourcing
- overpayments/ repayments
- plan audits
- plan design
- plan funding
- plan implementation/ vendor conversion
- plan liabilities
- plan management
- plan termination
- required minimum distribution (RMD)
- retirement plan data fraud
- safe harbor
- SECURE Act
- testing
- vendor management/ recovery
- vendor search/ RFP process
- defined benefit (pension) plans
- defined contribution (DC) plans
- health & welfare plans
- nonqualified plans (deferred comp/ SERP/ etc.)
- retirement plans
- voluntary benefits
- employee stock purchase plans (ESPP)
SECURE 2.0: Guidance for retirement plan sponsors for 2023, 2024 and beyond
Thought Leadership, BenefitsPROThe 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....
New outline of SECURE 2.0 provisions offers guidance for plan sponsors
Thought Leadership, 401(k) SpecialistCliffsNotes-like summary provides help for mid- to large-size retirement plan sponsors trying to navigate the expansive new legislation...
Is your benefits committee up to par? Here’s how to be sure
Thought Leadership, benefits administration, Employee Benefit News, ERISATo 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....
Advisers in conversation: Creating lifetime income in retirement
Thought Leadership, benefits administration, defined contribution (DC) plans, Employee Benefits News, financial wellness/ retirement readiness, group annuities, retirement plans, SECURE ActSBA founding principal Mindy Zatto joins Ted Benna, who designed and implemented the first 401(k) savings plan, for a discussion on the future of retirement savings plans and how plan sponsors can help close the participant education gap....
Ask an Adviser: Can terminating a defined benefit plan be more seamless?
Thought Leadership, benefits administration, data errors/ clean-up, defined benefit (pension) plans, Employee Benefit News, group annuities, lost participants/ beneficiaries, lump-sum window, plan funding, plan liabilities, plan management, plan termination, required minimum distribution (RMD), retirement plansLearn how to best position a frozen DB plan for termination....
4 ways plan participants and vendors can help improve cybersecurity
Thought Leadership, benefits administration, data security/ cybersecurity, defined benefit (pension) plans, defined contribution (DC) plans, Employee Benefit News, health & welfare plans, multi-factor authenticationIn a world of mounting cybersecurity threats, participants and vendors must play their part in warding off catastrophic attacks. Here are four strategies that can help....
Time well spent: Optimizing time away from work administration
Thought Leadership, benefits administration, BenefitsPRO, health & welfare plans, voluntary benefitsHere are some considerations for plan sponsors as they seek to streamline TAFW processes....
Ask an Adviser: How do we handle late deposits on 401(k) deferrals?
Thought Leadership, benefits administration, data errors/ clean-up, defined contribution (DC) plans, DOL, Employee Benefit News, plan audits, plan management, retirement plansThe 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
Thought Leadership, benefits administration, defined contribution (DC) plans, Employee Benefit News, ERISA, plan management, retirement plans, vendor search/ RFP processTo 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....
Ask an Adviser: How can employees pay off student loans and still save for retirement?
Thought Leadership, defined contribution (DC) plans, Employee Benefit News, financial wellness/ retirement readiness, retirement plans, voluntary benefitsStudent loan debt is cited by 1 in 4 people as the reason they’re not saving for retirement. Fortunately, hope is on the horizon. Congress is currently considering two bills that would allow employees to pay off their student loans...
Governance basics every plan sponsor should know
Thought Leadership, benefits administration, data security/ cybersecurity, defined benefit (pension) plans, defined contribution (DC) plans, DOL, ERISA, health & welfare plans, lost participants/ beneficiaries, nonqualified plans (deferred comp/ SERP/ etc.), plan audits, PLANSPONSOR, retirement plans, vendor management/ recoveryHow do plan sponsors operate and administer employee benefit plans in a manner that is both effective and compliant with applicable regulatory and fiduciary obligations?...
Why you should encourage ‘mini’ retirement plan audits
Thought Leadership, benefits administration, defined benefit (pension) plans, defined contribution (DC) plans, DOL, Employee Benefit News, health & welfare plans, lost participants/ beneficiaries, lump-sum window, overpayments/ repayments, plan audits, required minimum distribution (RMD), retirement plans, SECURE Act“Audit” is practically a four-letter word for plan sponsors, advisers and administrators. But an audit doesn't have to be a bad thing....
What happens when you squeeze a vendor too tight
Thought Leadership, benefits administration, BenefitsLink, defined benefit (pension) plans, defined contribution (DC) plans, health & welfare plans, outsourcing, plan management, retirement plans, vendor management/ recovery, vendor search/ RFP processWhen 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...
This retirement change Congress is considering will help many families struggling with student loan debt
Thought Leadership, defined contribution (DC) plans, financial wellness/ retirement readiness, Parents Magazine, required minimum distribution (RMD), retirement plansCongress wants more changes to the U.S. retirement system — and one likely retirement provision could benefit families with student loans, big time....
A closer look at SECURE Act 2.0’s less-talked-about provisions
Thought Leadership, benefits administration, BenefitsPRO, data errors/ clean-up, defined benefit (pension) plans, defined contribution (DC) plans, lost participants/ beneficiaries, overpayments/ repayments, plan management, required minimum distribution (RMD), retirement plans, SECURE ActWhat 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
Thought Leadership, benefits administration, defined benefit (pension) plans, M&A, outsourcing, plan audits, plan liabilities, plan management, PLANSPONSOR, retirement plans, vendor search/ RFP processAs 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....
6 things your pension administrator may not be doing
Thought Leadership, benefits administration, defined benefit (pension) plans, Employee Benefit News, ERISA, lost participants/ beneficiaries, lump-sum window, outsourcing, plan termination, vendor management/ recoveryAre you getting the most from your defined benefit pension plan outsourcer? Here are six things to check the next time you look under the hood of your relationship....
Plan sponsors should do their homework before offering student loan assistance
Thought Leadership, benefits administration, financial wellness/ retirement readiness, plan design, plan management, PLANSPONSOR, SECURE Act, voluntary benefitsStudent 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...
(Webinar) Financial wellbeing: practical considerations and insights for employers
Thought Leadership, benefits administration, defined benefit (pension) plans, defined contribution (DC) plans, employee stock purchase plans (ESPP), financial wellness/ retirement readiness, FSA, health & welfare plans, HSA, nonqualified plans (deferred comp/ SERP/ etc.), plan design, plan management, retirement plans, SHRM, voluntary benefitsProgram 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 readi...
Now is the time for employers to educate themselves on how AI can benefit HR
Thought Leadership, artificial intelligence (AI), chatbots/ smartbots, Employee Benefit News, health & welfare plans, retirement plansEmployers are increasingly exploring artificial intelligence as a means of solving their HR challenges. But a host of challenges — from a general lack of consensus about what “AI” even means to systems integrations issues — have...
Pandemic sharpens focus on employee financial wellness
Thought Leadership, benefits administration, BenefitsLink, defined benefit (pension) plans, defined contribution (DC) plans, employee stock purchase plans (ESPP), financial wellness/ retirement readiness, FSA, health & welfare plans, HSA, nonqualified plans (deferred comp/ SERP/ etc.), outsourcing, plan design, plan management, retirement plans, voluntary benefitsCOVID-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...
‘Free’ plan implementation can come with big costs
Thought Leadership, benefits administration, data errors/ clean-up, defined benefit (pension) plans, defined contribution (DC) plans, health & welfare plans, lost participants/ beneficiaries, M&A, nonqualified plans (deferred comp/ SERP/ etc.), outsourcing, plan implementation/ vendor conversion, plan management, PLANSPONSOR, retirement plans, testing, vendor search/ RFP process“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...
You’ve frozen your pension — now what? 6 steps in terminating a plan
Thought Leadership, benefits administration, BenefitsPRO, data errors/ clean-up, defined benefit (pension) plans, group annuities, lost participants/ beneficiaries, lump-sum window, plan funding, plan liabilities, plan management, plan termination, retirement plansEach phase of pension plan termination involves numerous decision points and incredible amounts of data-crunching....
To keep pension plan liabilities accurate, get to know participants’ marital status
Thought Leadership, benefits administration, defined benefit (pension) plans, DOL, lost participants/ beneficiaries, plan audits, plan liabilities, PLANSPONSOR, retirement plansConfirming 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....
Here’s how to create a SECURE Act plan of action
Thought Leadership, benefits administration, defined benefit (pension) plans, defined contribution (DC) plans, financial wellness/ retirement readiness, health & welfare plans, nondiscrimination testing, plan design, plan funding, required minimum distribution (RMD), retirement plans, safe harbor, SECURE ActGiven 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....
Preventive maintenance is key to retirement plan health
Thought Leadership, benefits administration, defined benefit (pension) plans, ERISA, lost participants/ beneficiaries, plan audits, plan management, PLANSPONSOR, required minimum distribution (RMD), retirement plans, testingPeriodic 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....
A background on retirement plan cyber crimes and how to mitigate them
Thought Leadership, benefits administration, data security/ cybersecurity, defined benefit (pension) plans, defined contribution (DC) plans, DOL, ERISA, multi-factor authentication, plan management, PLANSPONSOR, retirement plan data fraud, retirement plansThe 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...
Retirement readiness starts at work
Thought Leadership, benefits administration, BenefitsLink, defined benefit (pension) plans, defined contribution (DC) plans, employee stock purchase plans (ESPP), financial wellness/ retirement readiness, FSA, HSA, nonqualified plans (deferred comp/ SERP/ etc.), outsourcing, plan management, retirement plans, voluntary benefitsEvery 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...
Keeping up with all the players in outsourced benefits administration
Thought Leadership, artificial intelligence (AI), benefits administration, defined benefit (pension) plans, defined contribution (DC) plans, health & welfare plans, M&A, multi-factor authentication, nonqualified plans (deferred comp/ SERP/ etc.), outsourcing, plan management, PLANSPONSOR, retirement plans, vendor management/ recovery, vendor search/ RFP processThe 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...
Where plan sponsors and recordkeepers stand on multi-factor authentication
Thought Leadership, benefits administration, BenefitsPRO, data security/ cybersecurity, defined contribution (DC) plans, ERISA, health & welfare plans, multi-factor authentication, plan management, retirement plan data fraud, retirement plansWe surveyed plan sponsors and 401(k) recordkeepers to determine how they are using multi-factor authentication (MFA) as a tactic for mitigating defined-contribution plan fraud and protecting sensitive participant and plan information....
How to walk the line with pension overpayments
Thought Leadership, benefits administration, data errors/ clean-up, defined benefit (pension) plans, defined contribution (DC) plans, overpayments/ repayments, plan audits, plan implementation/ vendor conversion, plan management, PLANSPONSOR, retirement plansSBA principals Mary Shah and Mindy Zatto discuss ways to recoup pension overpayments that satisfy regulators and do not place burden on retirees, as well as how to prevent overpayments from happening....
Finding the right voluntary benefits broker may be trickier than clients realize
Thought Leadership, benefits administration, brokers, Employee Benefit News, financial wellness/ retirement readiness, health & welfare plans, outsourcing, vendor search/ RFP process, voluntary benefitsWhen selecting a provider for voluntary benefits, small to midsize companies often turn to the same broker that serves their medical or retirement plan needs. But medical and retirement benefits brokers may lack the knowledge or...
Is your nonqualified plan causing you anxiety? Here’s what to do
Thought Leadership, benefits administration, data errors/ clean-up, Employee Benefit Advisor, M&A, nonqualified plans (deferred comp/ SERP/ etc.), plan managementNonqualified retirement plans are less common — and more frequently misunderstood — than their qualified plan counterparts. This article highlights common nonqualified plan challenges that HR managers and benefits coordinators may encounter....
Safeguarding DC plan data is about more than cybersecurity
Thought Leadership, benefits administration, data security/ cybersecurity, defined contribution (DC) plans, plan audits, plan management, PLANSPONSOR, retirement plan data fraud, retirement plansThe 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...
Plan sponsors could consider a different solution to provider woes
Thought Leadership, defined benefit (pension) plans, defined contribution (DC) plans, health & welfare plans, nonqualified plans (deferred comp/ SERP/ etc.), outsourcing, plan management, PLANSPONSOR, retirement plans, vendor management/ recovery, vendor search/ RFP process, voluntary benefitsOccasional 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...