Feb 02, 2010 — A recent survey conducted by ING’s U.S. Retirement Services indicates those employed in the higher education community are growing more nervous about their ability to retire comfortably, yet few are acting on their concerns. —
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Feb 04, 2010 — Brokers/advisers are the most trusted sources to provide accurate information about investments, investing, or the markets, according to the 2010 Edelman Financial Services U.S. Trust Barometer. —
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Feb 04, 2010 — New York accounting firm Eisner LLP has issued a warning that the Internal Revenue Service (IRS) will begin sending questionnaires to 401(k) sponsors to gather information about their level of compliance with applicable tax rules.
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The Benefits Game: Year End Edition
It has been a busy year for benefit professionals. During 2009 numerous new rules have been issued and/or gone into effect that may impact your benefit programs. Other rules require compliance by the end of 2009 or in 2010. Legislation ranging from a complete overhaul of our health care system to additional pension funding relief is pending The following alert is intended to provide an overview of some of the employee benefit issues you should consider before year-end.
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December 10, 2009 — A new study from Fidelity finds more Americans than in the past are resolving to save more and learn more about finances in the coming year. —
The telephone survey of more than 1,000 Americans ages 18 and older indicated that 35% typically consider New Year’s resolutions regarding their finances, but 43% of individuals said they are more likely to consider financial resolutions for the coming year. This number increases to 55% among those ages 35 to 44, Fidelity said.
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December 10, 2009 — In an advisory opinion, the U.S. Department of Labor (DoL) addressed whether investment advisers to the mutual funds underlying target-date funds used in a retirement plan are plan fiduciaries. —
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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.
Continue reading “The process of picking a co-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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By MARK JEWELL
The Associated Press
Published: August 16, 2009
BOSTON – Workers again are embracing 401(k) plans after the market meltdown and ongoing recession left many unable or unwilling to set aside some of their paychecks for retirement, according to the nation’s largest workplace savings plan provider.
In the second quarter, more participants in Fidelity Investments’ defined contribution plans raised the amount they set aside rather than decreased the percentage of pay they put into their savings. In a study released Wednesday, the Boston-based company said it’s the first time that’s happened in a year.
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With a growing retiree population, can any public-employee pension fund stay solvent? Scott Adams and Marcia Fritz debate.
1:45 PM PDT, August 10, 2009
LA Times
Today’s topic: Even after a potential reform, can any public-employee pension stay solvent when the number of retirees is growing? Are 401(k)-style plans inevitable for all state employees?
The 401(k) disaster
Point: Scott Adams
Our country is facing the greatest threat yet to ensuring retirement security for every American. The reckless experiment of relying on 401(k) plans has been a failure. Many Americans have seen their dream of retiring with dignity vanish along with their home equity. Worst, many cannot afford to retire at all.
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