Novant Health violated ERISA when it allowed its Retirement Plus Plan to pay millions of dollars in excessive fees to third-party service providers, including the plans broker, a class action lawsuit filed Wednesday by current and former Novant employees claims.
While its difficult to discuss your eventual death with those you love, its imperative to plan for it, not only for your sake, but for theirs. Employers can offer several voluntary benefits to help make this end-of-life planning and transition easier for their employees and the loved ones they leave behind.
Commentary: You can add value just by letting your 403(b) clients know about this opportunity to receive free third-party research, according to The Principal's Aaron Friedman.
Women face additional challenges when it comes to planning and saving for retirement. They often earn less than men and take more time out of the workforce over the course of their careers, which affects retirement plan eligibility and savings.
As employer-sponsored retirement plans are expected to see premium increases from the Pension Benefit Guaranty Corporation this year, along with a possibility of an unsteady market economy and longevity issues, retirement officials are urging plan sponsors to consider de-risking techniques.
New data indicates that target-date funds are used by roughly 55% of the participants in 401(k) plans at Vanguard, referencing a growing attraction to balanced investment options that automatically cuts down risk with age.
The Department of Labor requested public comments this week on a proposal to amend its 408(b)(2) fee disclosure regulations to require service providers to provide plan sponsors with a guide for navigating fee disclosure documents.
Commentary: Its not too late to set up a 2013 retirement plan. It may not be flexible, but it is available for those seeking last-minute savings.
Commentary: You dont need to be one of the worlds best writers to communicate effectively with clients about their retirement needs.
Fidelity Investments has concocted a new educational product suite to be available on your nearby desktop computer that will ease the burden that faces both defined contribution plan sponsors as well as plan participants in managing future saving needs.
Are your clients prepared for a 401(k) plan audit? When the Employee Benefits Security Administration knocks on the door and starts requesting plan documents, financial records, account statements, contracts and more, it can be overwhelming. The best offense is a good defense, so be prepared. Take a glimpse into a recent audit and the laundry list of documents requested.
Commentary: Automatic features have all helped retirement plan participants, but what should employers and committees discuss this year as they plan for future improvements in their plans as a way to seek to improve the retirement outcomes for their participants?
Connecticut lawmakers are considering a new plan to offer individual retirement accounts to private sector employees in a need of future retirement assistance.
Employees are much more fearful of making bad investment decisions than they are of doing nothing and missing out on a potentially good investment, leading many to invest too conservatively in their 401(k) plans.
A new TIAA-CREF survey of employee-sponsored retirement plan participants uncovers a divide in that Americans are either not familiar or dissatisfied with their investment options.