How to Effectively Handle DB Plans Through Covid-19
Defined Benefit, or DB plan sponsors were immensely impacted when the market was pummeled by the COVID-19 crisis. It is predicted that the volatility of the marketplace will maintain for a while. As such, plan…
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Average 401(k) Soars Through 2020
We could all use some good news, especially during this difficult, uncomfortable time. According to the estimates from the Employee Benefit Research Institution, in what is being called the best quarterly market in decades, the…
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DOL Releases New Fiduciary Rule
The Labor Department has revealed its long-awaited fiduciary rule, along with some novel implications for record-keepers, rollover and Pooled Employer Plans advice. Titled “Improving Investment Advice for Workers & Retirees“, the proposal offers a new…
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Costco Sued Over Mismanagement of 401(k) Plan
On behalf of plan participants of the Costco 401(k) Retirement Plan, a lawsuit was filed against Costco Wholesale Corporation and related parties for allegedly mismanaging a defined contribution plan worth $15.5 million. Filed on Tuesday…
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Why Small and medium-sized enterprises are Expanding Cyber Insurance Budgets
During this time of uncertainty, industries are particularly vulnerable to cyber breaches. Last year alone, ransomware targets forfeited over $1.3 billion to hackers, including high-profile victims like hospitals, airlines and retailers. However, small businesses are…
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IRS Grants RMDs Rollover Relief
Novel guidance has been published by the Internal Revenue Service, who extended the rollback period for minimum distributions already taken this year. The guidance encompasses a series of FAQs and offers plans with sample amendments…
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Pension Risk Transfers Drop in May
Pension risk transfer premiums fell significantly last month due to a continuous decline in both annuity purchase rates and discount rates. Per the latest pension buyout index study, discount rates sunk 27 basis points this…
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DOL Proposal Fortifies Fiduciary Role in ESG Investing
According to a new proposed rule from the Labor Department, ERISA plan fiduciaries are not allowed to invest in ESG vehicles that take on more risk and sacrifice investment returns. The rule, published Tuesday night,…
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Fidelity Investments Reaches Settlement in ERISA Lawsuit
Fidelity Investments just reached a settlement with former plan participants in the firm’s 401(k) plan, who accused plan fiduciaries of violating ERISA laws. Filed on June 18 in U.S. District Court in Boston, the plaintiffs…
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