Banco Popular de Puerto Rico

Plan fiduciaries are more vulnerable than ever on a lot of legal and regulatory fronts, including the financial statements included with their 5500 filings. In an era when 5500 forms and their attachments quickly enter the public domain online via E-fast 2, available to anyone -- including an enlarged army of DOL inspectors hunting for anomalies, “fiduciaries need to be on the top of their game,” warns Dave Dacey, CPA, a partner with the WithumSmith+Brown and leader of the firm’s Employee Benefit & Pension Plans Group.

New Jersey’s public pension deficit swelled 13% to $47.2 billion in fiscal 2012 as the state continued to make partial contributions to its retirement plans.

The number of employers offering a sponsored retirement plan slightly increased in 2012 from four years prior, while matches and employer contributions remained near constant, according to a survey released today by WorldatWork and the American Benefits Institute.

Older U.S. adults may get too many colonoscopies, costing Medicare an estimated $500 million a year and putting patients at an increased risk of side effects such as bleeding, researchers found.

The new Roth in-plan conversions are getting a lot of press. Here’s what you will need to be ready for the questions heading your way.

The insurance industry is not very prepared for climate change, according to “Insurer Climate Risk Disclosure Survey: 2012 Findings & recommendations,” from the Ceres Coalition.

Illinois became the second state to settle with the U.S. Securities and Exchange Commission over charges it misled investors about a growing shortfall in its employee pension funds as it sold $2.2 billion in bonds.

Defined contribution plan sponsors who have yet to get on board with auto-enrollment -- a trend that began more than a decade ago -- are now in the minority. One study published last week in Science magazine found that 56% auto-enroll participants -- up sharply from 19% back in 2005. The study by behavioral economists Shlomo Benartzi and Richard Thayler also found that a slim majority (51%) of sponsors has embraced auto-escalation of deferral amounts.

Telemedicine poised to be a big seller for the instant gratification generation.

MassMutual’s fourth quarter data show that the average 401(k) deferral rate for female participants was 5.38%, an increase of 1.6% for the quarter. In comparison, male participants are saving at 5.81% on average, an increase of 1.2% from the previous quarter.