Employer Strategies

Many employer plan sponsors are expressing a high level of interest in adding Roth 401(k) in-plan conversions as an option to their 401(k) plans in 2013. The recently passed Taxpayer Relief Act of 2012 made it possible for retirement plan participants to convert existing 401(k) plan balances to Roth 401(k) balances, whether or not the participant is distribution eligible.

The challenges confronting many retirement plan advisers are familiar.

New 401(k) loan transactions were down approximately 5% year-over-year, and total hardship and in-service withdrawals were down nearly 8%, according to Bank of America Merrill Lynch’s most recent 401(k) Wellness Scorecard, released Thursday.

Life Technologies, a California-based medical research and life sciences company with more than 10,000 employees, shifted its workforce to a CDHP in 2010. Benefits leader Carole Mendoza says the education and communication effort for the change ran the gamut from bathroom newsletters (the old “porcelain press”) to blogs, webinars and social networks.

In 2025, three in four working Americans will be Millennials. By helping them manage stress and anxiety in their 20s and 30s with EAPs, they’ll be more productive and better-equipped to assume leadership positions down the road.

Pressure is growing to change incentives for retirement savings as U.S. lawmakers look for revenue, and top earners may pay the price.

Try a little “brain-based sales and marketing,” suggests ASSPA’s Lisa Allen. Speaking about building a loyal client base this week at the ASSPA/NAPA 401(k) Summit, Allen offered the view that plan sponsors typically choose to work with an adviser because they find a “good personal fit,” then retroactively confirm that all of the objective and numbers-based reasons for that decision are in line.”

Principal Financial Group Inc., the seller of life insurance and retirement products, agreed to buy a 55% stake in Liongate Capital Management LLP to expand in hedge funds and meet demand for alternative investments.

It’s nothing new that Americans are working and living longer. But with 401(k)s, IRAs, Roth IRAs and the old money-under-the-mattress plan, what could possibly be added to secure Americans’ financial security? Pension Advisory Group thinks it has the answer — a new group long-term disability insurance product.

A new study released by insurance industry researcher LIMRA shows that half of defined contribution employees are still not aware of how much they pay in annual fees and expenses, despite fee disclosure requirements added in 2012.