Financial Resources & News

Plan Sponsor’s Quarterly Calendar

JULY Conduct a review of second quarter payroll and plan deposit dates to ensure compliance with the Department of Labor’s rules regarding timely deposit of participant contributions and loan repayments. Verify that employees who became eligible for the plan between April 1 and June 30 received and returned an enrollment form. Follow up for forms that were not returned. Ensure that the plan’s...

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Web Resources for Plan Sponsors

Internal Revenue Service, Employee Plans Department of Labor, Employee Benefits Security Administration 401(k) Help Center Plan Sponsor Magazine BenefitsLink Plan Sponsor Council of America (formerly the Profit Sharing Council of America) Employee Benefits Institute of America, Inc....

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Cues Change Saving Behavior

Using several versions of e-mails to retirement plan participants, researchers at Yale University conducted experiments to determine if certain written cues would affect the saving behavior of participants. The e-mails reminded participants of the employer match and how much the participant had contributed so far in the year, and allowed the researchers to study the impact of specific wording...

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Retirement Security Confidence Improves Among Participants

Although surveyed employees reported increasing satisfaction with their financial situation, they are still concerned and are planning to take steps to improve their finances. Towers Watson’s Retirement Planning In a Post-Crisis Economy report found that 41 percent of survey respondents reported improved satisfaction with their finances, up from 33% in 2010. Also, 47% reported having seen a...

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Plan Sponsor Asks…

Q: Are target date funds popular with younger 401(k) plan participants? A: Analysis by the Employee Benefit Research Institute (EBRI) indicates that target date funds are increasingly attractive to those in their 20s and 30s. In fact, at the end of 2010, more than one-third (35%) of the account balances of recently hired participants in their 20s were invested in target date funds. EBRI found...

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Surveys Reveal Sponsors’ 2012 Focus

Two recent surveys indicate that plan sponsors have shifted their attention from simply raising participation rates, to broader and more fundamental topics involving retirement plan participants. Retirement readiness is high priority Deloitte’s Annual 401(k) Benchmarking Survey, 2011 Edition found that only 15% of plan sponsors think that most employees will be financially prepared for...

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Announcement Regarding Final Fee Disclosure Regulations

Final Service Provider Disclosure Rules Are Issued The Department of Labor (DOL) has issued final regulations specifying required service provider fee disclosures to retirement plan fiduciaries. The purpose of the rules is to assist plan fiduciaries in determining the reasonableness of compensation paid to covered service providers and any conflict of interest that might affect a provider’s...

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