Rethinking Retirement Support: Time for Plan Sponsors to Step Up
With nearly 59 million employees lacking access to workplace retirement plans, according to a recent TIAA study, we’re facing a retirement readiness crisis that demands...
Fiduciary
ERISA, liability, fiduciary responsibility. Plan sponsors always have some form of Fiduciary status but they can share that responsibility with 3rd parties like plan advisers or other service providers. These adviser or providers can act as a 3(21), 3(38) or 3(16) fiduciaries. 3rd parties hired by plan sponsors are sometimes called co-fiduciaries.
Cerulli: Closing the Retirement Guidance Gap Is Key to Better Outcomes
Employees are hungry for retirement guidance, but many don’t know where to turn for help. This disconnect between need and access has created a significant...
Rethinking Retirement: From Accumulation to Income
For years, the retirement industry has focused on accumulation—helping participants build their 401(k) balances. But as more Americans retire and live longer, a new challenge...
Less Is More: How Reducing 401(k) Loans Can Boost Retirement Readiness
Improving a company’s 401(k) loan policy is a strategic way to promote both employee financial wellness and long-term retirement readiness. Allowing too many concurrent loans...
Plan Participants Want Lifetime Income Options But Few Plans Offer Them
Although 93% of 401(k) participants say it’s important for their plans to provide lifetime income options like annuities, most plans still only offer lump sum...
Why Advisor Due Diligence Matters for 401(k) and 403(b) Plan Sponsors
Many plan sponsors are recognizing the complex responsibilities tied to managing retirement plans. While ERISA requires them to act as prudent experts, most lack formal...
The $800B IRA Rollover Challenge: Can Advisors Keep Up?
Each year, an estimated $800 billion leaks from 401(k) plans into IRAs—often bypassing plan advisors. Major record keepers like Fidelity, Schwab, and Vanguard dominate this...
401(k) Managed Accounts Can Help Improve Gen X Retirement Readiness
Gen X workers (ages 44-59) face unique hurdles on their path to retirement. As the “Sandwich Generation,” they’re often simultaneously caring for both children and...
Is Your Retirement Plan Advisor Fulfilling Their Fiduciary Function?
Investment oversight is one of your most critical responsibilities as a plan sponsor. But how do you know if your retirement plan investment advisor is...
Key Questions 401(k) Plan Sponsors Often Overlook
In a recent Fiduciary News article, Christopher Carosa, CTFA spotlighted several critical questions that 401(k) plan sponsors frequently neglect to ask, even though they have...
