by Market Cheetah | Nov 4, 2020 | Defined Benefit Plans, Defined Contribution Plans, Fiduciary Duty, Human Resources
The Department of Labor (DOL) released a final rule requiring fiduciaries to select investments for 401(k) and other plans based on participants’ financial interests, rather than nonfinancial factors such as a fund’s environmental, social and governance (ESG) criteria.
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by Market Cheetah | Oct 23, 2020 | Benefits Strategy and Planning, Defined Contribution Plans, Human Resources
Tough times are an opportunity not to abandon the 401(k) match but to reinvent it. For companies struggling to pay their match, there are ways to reduce costs while motivating workers to save. And for companies not planning suspensions or cuts, the strategies can improve the impact of the match on savings behavior, retirement plan experts advise.
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by Market Cheetah | Sep 18, 2020 | Benefits Compliance, Defined Contribution Plans, Human Resources
Long-awaited IRS guidance answers questions about how employers should implement key provisions of the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The measure, signed into law last December, aims to expand retirement plan coverage for U.S. workers.
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by Market Cheetah | Aug 22, 2020 | Defined Contribution Plans, Fiduciary Duty, Human Resources, Retirement and Financial Planning
The Department of Labor issued an interim final rule that, starting August 2021, will require 401(k) plan sponsors to annually disclose to plan participants estimates on how much income their account balance would produce if used to purchase an annuity. Plan sponsors should work with their record keepers to formulate a plan for compliance.
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