Retirement benefits

The Department of Labor has proposed a rule requiring pension plan service providers to offer a guide to help employers navigate disclosures about fees and potential conflicts of interest. Who would it affect and why?

For retirement plan advisers – and the plan administrator community – it remains more than a bit problematic to cope with the prospect of a new threshold of responsibility for the financial decisions of plan participants. Or, having their hands tied and only being able to offer extremely financial guidance, as the case may be.

Even as the April 15 tax deadline looms for individual retirement account contributions, American adults still spend more time selecting a restaurant for a special occasion than they allocate to planning their IRA’s important investments.

Commentary: The deadline for discrimination testing has come and gone. If your clients are like many employers, they didn’t do so well.

Commentary: Employer group waiver plans provide a solution for the struggling public sector

While a flurry of recent, presidential-level focus on America’s retirement system might be a good opportunity for dialog on its shortfalls, those in the retirement industry fear that a new era of potential tax grabs is on the horizon.

A new analysis of the 100 largest corporate pension plans finds that retirement coffers bounced back in 2013, reaching record funded-status levels and cutting away at pension deficits that have plagued them since 2008’s financial collapse.

Commentary: Ever-changing interpretations of government regulations have resulted in employers being out of compliance with certain rules and not even knowing it.

Being a retirement plan fiduciary carries a heavy weight and lots of responsibility. Breaches of such responsibilities can result in both civil and criminal action, though the latter is rare and usually the result of egregious behavior. Fortunately, retirement plan sponsors have a growing menu of options to help them manage their fiduciary obligations and offset some of their legal liabilities.

Retirement confidence among Americans regained some of the losses reported over the past five years – where approximately 18% are very confident and 37% are somewhat confident with the future financial needs – according to a new survey from the Employee Benefit Research Institute.

Novant Health violated ERISA when it allowed its Retirement Plus Plan to pay millions of dollars in excessive fees to third-party service providers, including the plan’s broker, a class action lawsuit filed Wednesday by current and former Novant employees claims.

While it’s difficult to discuss your eventual death with those you love, it’s imperative to plan for it, not only for your sake, but for theirs. Employers can offer several voluntary benefits to help make this end-of-life planning and transition easier for their employees and the loved ones they leave behind.

Commentary: You can add value just by letting your 403(b) clients know about this opportunity to receive free third-party research, according to The Principal's Aaron Friedman.

Women face additional challenges when it comes to planning and saving for retirement. They often earn less than men and take more time out of the workforce over the course of their careers, which affects retirement plan eligibility and savings.

As employer-sponsored retirement plans are expected to see premium increases from the Pension Benefit Guaranty Corporation this year, along with a possibility of an unsteady market economy and longevity issues, retirement officials are urging plan sponsors to consider de-risking techniques.

New data indicates that target-date funds are used by roughly 55% of the participants in 401(k) plans at Vanguard, referencing a growing attraction to balanced investment options that automatically cuts down risk with age.

The Department of Labor requested public comments this week on a proposal to amend its 408(b)(2) fee disclosure regulations to require service providers to provide plan sponsors with a guide for navigating fee disclosure documents.

Commentary: It’s not too late to set up a 2013 retirement plan. It may not be flexible, but it is available for those seeking last-minute savings.

Commentary: You don’t need to be one of the world’s best writers to communicate effectively with clients about their retirement needs.

Fidelity Investments has concocted a new educational product suite – to be available on your nearby desktop computer – that will ease the burden that faces both defined contribution plan sponsors as well as plan participants in managing future saving needs.