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According to a new state-by-state analysis[1] published by the American Retirement Association, more than 5 million employers in the United States still don’t offer a workplace retirement savings benefit, a generation after the 401(k) plan design was first introduced.  When a 401(k) is available,... READ MORE
A recent federal court decision should remind us all of the importance of plan committee education. The case involved a suit by participants in the SunTrust 401(k) plan (see Is Fiduciary Responsibility Retroactive?) that challenged the initial selection of, and subsequent acquiescence with, an... READ MORE
  A key university 403(b) suit remains alive, as the fiduciary defendants lost their bid to have a rehearing of the case rejected.  The case – one of the first of the university 403(b) suits filed in 2016 – and brought by participants in the $3.8 billion University of Pennsylvania Matching Plan... READ MORE
Editor’s Note: This post by Todd Kading and Neal Weaver of LeafHouse Financial was submitted in response to our June 26, 2019, Case of the Week column by John Carl, “What’s a ‘Flexible’ ERISA 3(38)?” LeafHouse, which describes itself as “the FlexFiduciary™”, is a discretionary investment services... READ MORE
Participants have accused plan fiduciaries of “stuffing cash into a mattress” while at the same time forcing participants “to play the fool’s game” by offering only “high-cost actively managed funds.” Plaintiffs Gloria G. Ferguson and Cassandra McClinton “individually and as representative of a... READ MORE
Target-date funds continue to proliferate – and though a mere handful of firms dominate that space, the retirement assets of an entire generation seem headed in that direction. Are your recommendations focusing on “to” or “through” retirement – and with the markets at all-time highs, has that... READ MORE
New research shows that small business plan participants are benefiting from enhanced plan design features, but some findings suggest that more can be done.  Vanguard’s sixth annual “How America Saves: Small business edition,” reveals that employees enrolled in plans with an automatic enrollment... READ MORE
While there’s likely a rocky confirmation road ahead, President Trump has announced (via tweet) his choice as the next Secretary of Labor. “I am pleased to announce that it is my intention to nominate Gene Scalia as the new Secretary of Labor,” Trump tweeted Thursday evening. “Gene has led a life... READ MORE
Advisors previously were far less sanguine than plan sponsors about 401(k) plan participants’ retirement readiness, but those views appear to be converging.  With advisors less pessimistic and sponsors less optimistic, both sets of stakeholders now see the need to improve retirement outcomes for... READ MORE
A key House committee has moved forward on a package of bills that, among other things, would expand the Securities and Exchange Commission’s civil monetary penalty authority and extend the statute of limitations for imposing such penalties.   The House Financial Services Committee on July 16... READ MORE