Employee Benefit News

Final DOL reg could bring big change to retirement industry

Big shifts may be coming in how retirement plans are managed after the the Labor Department Thursday announced the final version of its rules under Section 408(b)(2) of ERISA, which require broker dealers disclose their services and fees to plan sponsors for individual plans.

Labor Dept delays roadmap for 401(k) fee

The U.S. Labor Department has removed a controversial part of its proposed 401(k) fee disclosure rule that would have required retirement plan providers to create a summary document, or "roadmap," of all their fees for employers.

Discover the Bottom Line Benefits of Financial Education

When employees lack the confidence to make decisions about their long-term financial goals, the uncertainty can affect their productivity and morale. Attend a free, informational webinar to find out how the Financial Fitness Challenge (FFC) program can help boost your bottom line.

What you'll learn at this webinar:

• How the program increases 401(k) plan participation by up to 40%
• How the unbiased, online training program helps you meet ERISA 404(c) requirements
• How employee financial knowledge (or lack of it) impacts your bottom line
• And much more.

The turnkey, online financial education training program has been used in more than 200+ organizations - come and hear why 91% of program participants recommend the training to family and friends.

Discover the bottom line benefits of financial education.

Introducing the Financial Fitness Challenge, an unbiased retirement education program for employees.

Sponsored by:

Employees failing to save makes for an adviser's opportunity

Employees do not save enough for their eventual retirement needs, research shows. But, with tools, help and education from financial advisers that paradigm may shift - benefiting not only the employee but the employer and adviser.

DC provider overview

Though the 401(k) and defined contribution market gets lots of attention from all sectors of society and has a significant amount of assets, there are only about 110 national providers and advisory firms focused on this market.

Brushing up on fiduciary duty

Offering a retirement plan can be one of the most challenging - yet rewarding - decisions an employer can make. The employees participating in the plan, their beneficiaries, and the employer all may benefit when a retirement plan is in place. Administering a plan and managing its assets, however, requires certain actions and involves specific responsibilities governed by the Employee Retirement Income Security Act.

What investors (and advisers) don’t know about risk

Ten days in the investment markets can have an enormous impact on any client’s portfolio. But because it is nearly impossible to predict which ones will be the best, investors should stay in the market and remain diversified, David Gluch, CFA, a director of U.S. product management for Invesco, said during a presentation at the IMCA 2012 New York Consultants Conference.

Survey: Majority of plan participants lost on retirement planning

Employees around the country are in need of direct, simple guidance to help them reach their retirement goals, according to a survey released by State Street Global Advisors.

Plan sponsors can learn from experience with defined benefit plans

The ongoing shift from defined benefit (DB) to defined contribution (DC) plans has prompted the financial services industry to rapidly develop products that deliver a steady stream of retirement income, one of the biggest shortcomings with DC plans. While numerous retirement income products are hitting the marketplace, employers and regulators are grappling with how they fit within qualified retirement plans.

Boomers consider cashing-in life insurance to fund retirement

Baby boomers appear to be taking a second look at their life insurance policies as an alternative financial solution to paying for retirement, where they sell an unneeded life insurance policy for a portion of the face amount. These transactions, known as life settlements, have become a mainstream practice in the past several years, particularly as baby boomers begin exploring all financial options to paying for retirement, including previously unconventional alternatives.

5 Ways to Improve Your Client Retention and Gain New Accounts

Employers and benefit brokers are facing unique challenges compounded by uncertainty around the subject of health care. Gain strategies, resources and relationships needed to capitalize on an unprecedented opportunity to gain new accounts and revenue streams.

Financial industry groups glad to help DOL with new fiduciary rule

Financial services industry groups are ready and willing to help the Labor Department do a formal study of the potential impact of a redefinition of fiduciary responsibility, according to a new letter several trade organizations wrote to the department.

Only a quarter of plan sponsors partner with a trusted adviser

Only 25% of plan sponsors with 100 or more employees and plan assets between $5 million and $500 million partner with a professional adviser, according to a recent report from The Retirement Advisor Council. The study demonstra

Broker-dealers up in arms over 401(k) fee disclosure

Broker-dealers are up in arms over a little-known provision of the Department of Labor's 401(k) plan fee disclosure rules. Ready why some industry observers say the brokerage industry only has itself to blame.

Are older workers getting in the way of the young?

Last week's report on unemployment shows that the economy continues to gather steam - payrolls grew by 200,000 and the jobless rate ticked downward again, to 8.5%.