Retirement benefits

Of the many industry critiques of the Department of Labor's fiduciary proposal, one of the most oft-repeated is the assertion that new regulations would cut off access to advice for low- and middle income investors — precisely the segment of consumers the initiative aims to protect.

Commentary: With employees fighting back and winning against high fees and a new fiduciary standard on the way, we’re on the cusp of some radical changes to the corporate retirement landscape.

The Plan Sponsor Council of America outlines its concerns over the DOL’s proposal to impose fiduciary requirements on retirement advisers.

In its first day of hearings about the proposed fiduciary rule, the DOL has heard testimony from advisers, legal experts and other industry representatives — many seeking revisions to minimize the ‘burden’ of the rule’s future implementation.

Concerns about over-regulation and accusations of industry cynicism led the opening of the Labor Department's hearings on its proposal to impose fiduciary requirements on retirement advisers — the latest phase of its contentious process to craft new rules on consumer protections.

Despite a growing optimism about their financial situations, African-Americans still participate in their employer-sponsored retirement plans at lower rates than the general population, indicating a continued need for employers to focus on retirement plan education.

Employers are realizing that employees really respond when they not only promote their company retirement plan, but contribute to it.

Commentary: Pension liability risk management is now more critical than ever. If an employer triggers a withdrawal, they need to act within 90 days to preserve their legal rights.

Employees may express interest in annuities, yet few retirement plan sponsors are rushing to offer them within their 401(k) plans.

Advisers are needed now more than ever to help individuals reach their retirement goals as employees assume the responsibility of managing their financial future.

Significant amounts of participant balances are leaking out of 401(k) plans and not being replenished, with potentially disastrous results.

Some baby boomers are carrying too much risk in their retirement portfolios because of the stock market’s rapid rise over the past five years.

While states are starting to realize they need to step up and help private sector employers better prepare their employees for retirement, Americans continue to fall short in meeting their economic needs in retirement.

Commentary: If you ask people how they would make decisions today while working, most would tell you they can only make an educated guess or seek advice from financial professionals. Imagine how disconcerting this is when they no longer work and earn paychecks.

When does it make sense to choose a custom target-date strategy instead of an off-the-shelf menu? It’s a complicated question with no easy answer.

Commentary: Adopting a new approach to participant communications that factors in the unique characteristics of each generation, as well as the specific needs and preferences of each individual, is key to building and sustaining business.

Workplace benefit plans are key part of employees’ future financial success but the majority of employers don’t think their employees value the benefits that are offered.

While a majority of both public and private employees have access to retirement plans, new research points to major differences in the number of those who actually participate.

U.S. working adults who seek the help of an adviser are more likely to describe themselves as savers and have less debt than those without an adviser.

Commentary: Stretching a match has strong appeal for companies that have identified a retirement benefit philosophy that prioritizes the ability of its employees to retire with the right replacement ratio.