Retirement

The Employee Retirement Income Security Act generally requires that plan participants get copies of plan documents when requested. However, there is even an enforcement provision of ERISA that subjects the administrator to penalties if they fail to provide requested documentation.

Females are more empowered than ever to steer families financially, but there’s still catch-up work for advisers to do in getting them to save for their later years.

American workers are increasingly satisfied with their retirement plans and interested in investing in them, a trend advisers and employers use in their favor.

The President, Washington lawmakers and state legislators are all trying to chip away at the backbone of employee retirement benefits. Benefits managers hoping to reinforce the successes of their 401(k) programs need to take action now to help protect the system.

Start by constructing an employee education policy statement for your 401(k) and 403(b) plans. Many plan sponsors never put together this document and, as a result, have no idea if they are achieving any worthwhile education objectives.

If errors occur with these retirement savings tactics, it could be very costly to your employer clients.

Modest equity market gains last month weren’t enough to offset the growth in pension liabilities among defined benefit plan sponsors in the S&P 1500.

Average contribution rates for small business retirement accounts have continued to climb since the recession – with an 18% increase since last year and 88% over the past six years, according to a Fidelity Investments analysis of more than 200,000 401(k)-type and individual retirement account plan options under its administration.

More and more, companies which have integrated auto-enrollment and auto-escalation features into the retirement plan design are producing impressive participation and savings rates, more in line with the targets that will result in the kinds of 401(k) balances participants will need in retirement.

While even the smallest of employers are reporting increased success in their participants’ savings rates and ongoing recruitment benefits in offering a workplace retirement plan, the fiduciary burdens of administering those 401(k) plans are starting to add up for many plan sponsors.