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Being a fiduciary is serious business. And complex. But a recent blog entry boils it down to seven common sense rules for a fiduciary to keep in mind.In “7 Rules Every Professional Fiduciary Must Follow,” Christopher Carosa of Fiduciary News suggests that complying with the legalities of serving as...
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Concerns about increasing health care costs and the potential to outlive savings are dampening employers’ confidence in their employees’ retirement futures, new survey results show.Nearly half of nonprofit and corporate, for-profit employers are only “somewhat confident” in their employees’...
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Average individual 401(k), 403(b) and IRA account balances bounced back after a slight dip in the first quarter, showing solid year-over-year growth, according to data on Fidelity Investments clients.
Highlights from the firm’s second quarter 2018 analysis of retirement savings trends — based on...
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The Pension Benefit and Guaranty Corporation (PBGC) has proposed changes to two schedules to the Form 5500 — Schedule R, Retirement Plan Information, and Schedule SB, Single-Employer Defined Benefit Plan Actuarial Information.Schedule RThe PBGC is proposing to modify Schedule R to obtain...
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You may have seen recent coverage of a new “study” that found a surge in bankruptcy filings among retirees.
The New York Times led the charge with “Too Little Too Late: Bankruptcy Booms Among Older Americans,” and the Wall Street Journal jumped in with “Bankruptcy Filings Surge Among Older...
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We now know the terms of an excessive fee lawsuit settlement reported a month ago.In early July, Deutsche Bank Americas Holding Corp. settled claims of a class action brought by Ramon Moreno and Donald O’Halloran, former participants in the Deutsche Bank Matched Savings Plan. The parties informed...
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Join ACOPA on Thursday, August 23 for a webcast on PBGC filing requirements for reportable events and premiums. It will be held from 2:00 -2:50 PM EDT.
The webcast is intended to provide an understanding of what’s required, as well as common mistakes, to help you make sure your clients are in...
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A majority of DC plan participants want the help of an expert in managing retirement assets, but many still stop short of wanting employers to choose their investments for them, new survey results show.According to J.P. Morgan’s 2018 Defined Contribution Plan Participant Survey, more than half of...
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The IRS has extended the deadline for submitting on-cycle applications for opinion letters for pre-approved DC plans for the third six-year remedial amendment cycle to Dec. 31, 2018. The original deadline was Oct. 1, 2018.
The three-month extension was announced Aug. 15 in Revenue Procedure (Rev....
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The California Secure Choice Retirement Savings Program (CalSavers), California’s state-run retirement plan for private-sector employees whose employers do not offer a retirement plan, is moving closer to implementation.
The California Secure Choice Retirement Savings Investment Board met on Aug....
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