Increased Penalty Fees
Fees, litigation and even criminal indictments are all possibilities for plan fiduciaries when the Department of Labor uncovers ERISA violations. Since civil penalty amounts are adjusted for inflation, the stakes are going up. Read…
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A New Job for Plan Sponsors: Cybersecurity
The more every business (and person in it) uses technology, the bigger the “attack surface” for cybercrime becomes. Last year’s massive MOVEit data breach, compromising data at over 600 businesses, sounded an alarm: whether…
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Reducing PBGC Plan Premiums?
All employer sponsored defined benefit plans pay insurance, with premiums set by Congress to the Pension Benefit Guaranty Corporation, which is an agency of the U.S. Government. Read on for insights about how PBGC…
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Plan Outcomes vs Business As Usual
Set it and forget it is not a best practice for retirement plan sponsors. If it’s been a while since you have given the plan some real attention, chances are strong that much has…
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DOL: See You In Court
The U.S. Department of Labor got off to a running start this year, bringing allegations of fiduciary breaches against two different plan sponsors in federal court in Maryland. It’s worth taking notice that these…
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A Win for Plan Sponsors?
It’s been two decades since a torrent of lawsuits began alleging that fiduciary failures were resulting in high fees for participants, and attorneys say the copycat claims are unlikely to stop anytime soon. There…
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Longevity Planning Vs Retirement Planning?
Trends toward both living and working longer are shifting how employees and employers have traditionally thought about financing retirement. Flexible hours and flexible benefits are becoming ever more important, and offering these benefits gives…
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Running Out of Money
That’s a big worry the majority of retirement plan participants, according to industry surveys. Participants also indicate interest in establishing consistent monthly income streams, but plan sponsors are unsure how to go about providing…
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Conducting Due Diligence on Advisors
The responsibility of conducting due diligence on the retirement plan advisor is a daunting tasks for most plan sponsors. Without finance and investment experience, it can indeed be difficult to periodically review the performance of…
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