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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Moving The Needle: Auto Enrollment
Starting early and saving consistently are the keys to building a solid nest egg for retirement. Data continues to indicate that employer sponsored plans that utilize automatic enrollment and escalation are moving the needle,…
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Failure To Obtain ERISA Bond?
Plan sponsor oversights add up fast, as a lawsuit brought by the Department of Labor (DOL) painfully reminds us. Allegations, specifically naming a plan sponsor, include abandonment of the plan—and failure to obtain the…
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DOL’s Proposed Fiduciary Rule Explained
Public hearings and comment periods related to the Department of Labor’s proposed new fiduciary rule are currently slated to end in early January, 2024, making it important for plan sponsors to understand the basics…
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