Defined Benifit | Compass Corporate Retirement Solutions BLOG

14 Sep

Retirement Losses among Worst Effects of Recession

Fred Schneyer

September 14, 2009 — Some 56% of respondents in a recent survey said their retirement savings losses were among the most significant impacts on their lives from the economic downturn.

An American Express news release about its spending poll also reported that 54% of respondents cited stock market losses, while 74% pointed to the trauma of seeing family and friends affected by the recession as key impacts the recession had on their lives.
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11 Sep

Workers Turn to Employers, Advisers for Retirement Help

Rebecca Moore

September 10, 2009 — A new study shows that most workers do not understand their retirement savings plans as well as other employer-provided benefits.

One in three (34%) Americans polled said they have little or no understanding of their retirement plan and three in four (74%) said they have less than a complete understanding, according to a release of results from The Hartford Financial Services Group, Inc. Employees indicated they had a better understanding of other benefits provided through their employer, such as medical coverage and life insurance.
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01 Sep

10 Things You’re (Probably) Doing Wrong—or Not Doing Right—as a Plan Fiduciary

IMHO: “To Do” List
Nevin E. Adams, JD

http://www.planadviser.com/NewsColumnists.aspx?id=6468
August 16, 2009 —

Being a plan fiduciary is a tough job—and one that, it’s probably fair to say—is underappreciated, if not undercompensated. In my experience, most who find themselves in that role (see “IMHO: Duty Calls”) I think do an admirable job of living up to the spirit, if not the letter, of their responsibilities.
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01 Sep

The DB(k): Pension of the Future

When hiring picks up again, this blend of defined benefit and 401(k) features will help snag top talent.

By Joan Pryde, Senior Tax Editor, the Kiplinger letters

http://www.kiplinger.com/businessresource/forecast/archive/DBk_pension_of_future_090819.html

August 19, 2009

An attractive new option for employer sponsored retirement plans becomes available next year. The “DB(k)” offers businesses with 500 or fewer employees an opportunity to provide a strong retirement plan for their employees with fewer hassles and less financial drain than a traditional pension plan.
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31 Aug

Survey Examines Design Features, Investment Experience Of Defined Contribution Plans In 2008

CCH® PENSION — 08/31/09

From Spencer’s Benefits Reports: In How America Saves 2009, Vanguard examines the plan design features and investment experience of more than 2,200 defined contribution plans for which the company provides recordkeeping services. Ninety percent of these plans have a 401(k) or 403(b) employee contribution feature, while the remaining 10% are plans such as profit-sharing plans to which only the employer contributes.
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17 Aug

The process of picking a co-fiduciary

Delegating such a major responsibility requires prudence, planning and procedures

By Blaine F. Aikin
August 16, 2009

By definition, prudence involves the exercise of skill and good judgment in the use of resources. It is a core fiduciary duty. Consistent with the stature of fiduciary obligations as the highest known to law, fiduciaries are expected to ensure that investments entrusted to their care are managed with the skill and judgment of a professional.
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16 Aug

The practical side of being a fiduciary

By Jerry Kalish
August 1, 2009
It’s a tough world out there now for retirement plan fiduciaries. Buffeted by the most complex set of forces since ERISA arrived in 1974, plan fiduciaries today must cope with heightened compliance enforcement by the Internal Revenue Service and the Department of Labor, increasing litigation by plan participants and tightened fiduciary liability insurance markets.Despite all these forces that are swirling around, there are some practical ways that fiduciaries can effectively manage their responsibilities. But before you say, “I’m not a fiduciary,” you should double-check. As an HR/benefits executive, you may be a fiduciary if you:
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