Latest Marketplace News
Betterment Sweetens XYPN Deal Big-Time to Reflect Conviction It Can Own Micro-RIA Custody
Blue Ridge Associates Acquires TSC 401k
Slavic401k Announces New Partnership With TriSpan LLP to Bolster Growth and Innovation
Pontera Unveils 401k Mega-Partnership With Stifel
AllianceBernstein Expands Retirement Income Suite
PLANADVISER'S 2024 Retirement Plan Adviser of the Year Winners
Future Capital Forges 401k Partnership
Empower Completes Integration of Prudential Financial Retirement Business
Ubiquity Retirement + Savings Reveals Brand Redesign
Latest Published Articles, Papers, and Research From Across the Web
|
On May 15, 2024, the SEC adopted amendments to Regulation S-P which governs the treatment of nonpublic personal information about consumers by certain financial institutions, many of which are commonly vendors and service providers to retirement plans. When assessing the cybersecurity of a retirement plan service provider that is a financial institution, plan fiduciaries may want to be aware of these SEC requirements as part of their assessment process.
Source: Workplaceprivacyreport.com, May 2024
|
|
The Employee Benefits Security Administration, Department of Labor issued interim final rules that expand the Abandoned Plan Program to include plan sponsors in Chapter 7 bankruptcy and other technical corrections. The interim final rule is effective July 16, 2024.
Source: Principal.com, May 2024
|
|
To better understand the reasons behind low participation, the Principal Group surveyed people eligible for their workplace retirement plans but currently not contributing. This is an 11-page report on their findings.
Source: Principal.com, May 2024
|
|
Preparing for a financially successful retirement requires careful planning. Knowing what to expect at different life stages can help. Most Americans are encouraged to save as much as they can during their working lives, but what happens when they enter a new stage by retiring, and their focus shifts from saving to spending? To answer that question, this report takes a closer look at the spending patterns of American households by leveraging de-identified data from more than 280,000 households.
Source: Jpmorgan.com, May 2024
|
|
Not every conversation with retirement investors is a recommendation under the DOL's new fiduciary rule. There are three notable exceptions, two of which are discussed in the preamble to the regulation: education and "hire me." This article discusses the "hire me" exception.
Source: Fredreish.com, May 2024
|
|
SCOTUS may soon have yet another ERISA-related case to review. AT&T Services, Inc. recently petitioned SCOTUS for a writ of certiorari to review the Ninth Circuit's decision in Bugielski v. AT&T Services, Inc. AT&T presented the question for the Court as follows: Whether a fiduciary to an employee benefit plan causes the plan to engage in a prohibited transaction under Section 406(a)(1)(C) of ERISA by entering into a routine, arm's-length agreement for plan services.
Source: Fiduciaryinvestsense.com, May 2024
|
|
The final rule takes another stab at defining when a financial service provider will be an investment advice fiduciary under ERISA in a way that the agency hopes will finally pass judicial scrutiny since the first lawsuits have already been filed challenging the new rule. The new definition is intended to close the perceived "loophole" for one-time advice that has previously kept most retirement plan to IRA rollover advice divorced from the fiduciary standards of ERISA.
Source: Brickergraydon.com, May 2024
|
|
Information regarding retirement plan distribution and rollover options after leaving a job is too scarce and too slow. According to a new Government Accountability Office report, only a third of plan participants receive important notice that could help them decide on their retirement savings. The GAO cited federal data noting that more than 92 million Americans participate in and have saved more than $7 trillion in 401k plans.
Source: Asppa.org, May 2024
|
More Articles, Papers, and Research »
To subscribe to our free weekly newsletter, enter your email address below then click the "Join" button. |
|
NOTE: WE DO NOT SELL YOUR DATA OR EMAIL ADDRESS TO ANY ORGANIZATION. |
Collected Wisdom™
Our researchers look for what they think are some of the better resources available to assist you in administering your plan or helping your clients. We group these resources in our COLLECTED WISDOM™ topics to make it easy for you to locate the information you need. Each item in a category contains a summary and date of when it was placed in the group.
We also maintain some older material in these collections for perspective and context.
Go to Collected Wisdom »
Tools and Resources
Calculators, charts, samples, directories and other resources to help you run and manage your plan or practice.
Go to Tools and Resources »