Retirement benefits

The past year was not a good one for the top 100 corporate pensions, according to research by Towers Watson. Falling interest rates and increased liabilities from updated mortality assumptions combined in 2014 to eradicate most of the gains from the previous year, Towers Watson found. The average funded status of the Towers Watson Pension 100 fell from 89% to 81% in 2014, even though plan assets gained in value. One bright note was that plan sponsors…

After years of discussion, today the Department of Labor proposed a new rule altering the long-standing fiduciary standard and it was approved by the Office of Management and Budget. Controversial from their start in 2010, these new regulations have been framed as a way to help the middle-class avoid excessive fees and poor advice from financial professionals who do not already serve as a fiduciary.

After nearly five years of waiting, the DOL has released its proposal to amend the regulation governing ERISA’s fiduciary definition. The proposed fiduciary rule aims to expand fiduciary duties to those who provide investment advice. With expert analysis and reaction, EBA is covering the highly anticipated unveiling of the rule. Here you can find our complete coverage on the proposed rule.

On Tuesday, the Department of Labor released its much-anticipated rule proposal extending a fiduciary standard to thousands of brokers and advisers providing investment advice to clients on retirement accounts. As the days follow, check back for coverage and analysis of what to expect during the 75-day notice and comment period.

The much-anticipated rule that provides a new definition of who is a fiduciary was released by DOL this week to much fanfare. And while most people agree there won’t be much impact on plan sponsors, there are passionate groups on both sides of the aisle fighting for or against this new proposal.

Commentary: By shifting some of the focus to the advisers, the DOL is getting closer to the heart of the problem, but it still doesn’t go far enough.

Commentary: Both fiduciary and non-fiduciary advocates are likely to find some language that appeases them in the Labor Department's new Proposed Rule to greatly expand the application of fiduciary duties to those who provide investment advice to most qualified retirement plans and IRA accounts — but both sides will also find language which causes much concern.

Commentary: ERISA lawyer shares 9 initial reactions to the Department of Labor’s proposed fiduciary definition rule, including how the proposal differs from the DOL’s 2010 effort.

Commentary: The new proposal will provide greater transparency regarding fees and a uniform definition of who is a fiduciary.

Commentary: Administration's headline on fee disclosure speaks for itself, but meanwhile, keep an eye on two more decisions on adviser fee disclosures that are on the horizon, says EBA Advisory Board member Jerry Kalish.

The Department of Labor on Tuesday unveiled its much-anticipated rule proposal extending a fiduciary standard to thousands of brokers and advisers providing investment advice to clients on retirement accounts – but details on enforcement were still forthcoming.

The Department of Labor Tuesday unveiled its much-anticipated rule proposal extending a fiduciary standard to thousands of brokers and advisers providing investment advice to clients on retirement accounts – but details on enforcement were still forthcoming.

Anyone who works with people knows the positive effect offering high-quality employee benefits can have on a workforce. They attract the best potential candidates for new jobs and foster a sense of loyalty and support among current staff, in addition to other things.

Employees and employers need to make sure their 401(k), 403(b) and 457 plan assets are in the right allocations for where they are in life, and that means revisiting those allocations on a regular basis.

Despite the best efforts of workplace-sponsored retirement plans and even the relatively positive status of Social Security, many baby boomers say they have lost confidence in their ability to live comfortably in retirement.

A plan’s average account balance is a key metric used by recordkeepers and other service providers to evaluate its health. Increasing it can give sponsors the leverage they need to negotiate lower fees.

Committees and plan sponsors alike have discussed ways to improve their investment menus over the last several years as a way to help drive successful retirement outcomes for employees. Regulatory changes, market instability and large numbers of investment options have led plan sponsors to devote more attention to their plans’ investment menus. What steps can committees take to help the problem that has plagued so many participants over the years? …

The Affordable Care Act has had one unintended consequence for small businesses. It has prompted employers to beef up their retirement benefits as a way to attract and retain good employees.

Employers around the world are pushing free transparency and seeking better investment outcomes for their workers, which is leading to a greater availability of low-cost investment options in employer-sponsored plans.

Top- rated states and localities have shortchanged payments to retirement plans as rallying stocks ease the funding pressure while services such as schools and crumbling infrastructure scream for resources.