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BY Ted Godbout 4/4/2024
Voya has expanded its lineup of nonqualified deferred compensation (NQDC) solutions with a more simplified offering that smaller-sized employers can add to their executive benefits package.
Dubbed “Business-ready,” the new offering is available to any size 409A (for-profit) company, but it has...
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BY NAPA Net Staff 4/4/2024
In a recent article on NAPA-Net, Fred Reish opined that PEPs—pooled employer plans—would come to dominate new plan adoption in the next 5 to 10 years. In this episode, Nevin (Adams) and Fred explore that possibility.
To make his case, Fred posed a counter-intuitive argument—supposing that if we...
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BY Todd Kading 4/3/2024
There’s a lot of talk about the dangers of fee compression—of the implications of the so-called “race to the bottom.” But are you actually part of the “problem?”
One of the most complicated areas of our business is participant recordkeeping. It requires pristine and highly personal data, an...
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BY Nevin E. Adams, JD 4/3/2024
This case, “yet another in a long list of cases challenging an employer’s conversion to a cash balance retirement plan under the Employee Retirement Income Security Act ('ERISA') …” and the particulars aren’t pretty.
Former BP workers Fritz Guenther and Walt Fujimoto filed suit in 2016, alleging...
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BY NAPA Net Staff 4/3/2024
Plan advisors know just how vital their defined contribution (DC) wholesaler is in growing, building, and managing their practice. They can become true partners in launching new ideas, products and services to increase revenue and deepen client relationships.
Here’s your chance to tell them how...
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BY John Iekel 4/3/2024
The Treasury Department, the Department of Labor’s Employee Benefits Security Administration (EBSA), and the Pension Benefit Guaranty Corporation (PBGC) have announced that they are extending the period during which they will accept comments on the effectiveness of existing reporting and disclosure...
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BY Jenny Kiffmeyer, JD 4/3/2024
ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock...
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BY Ted Godbout 4/2/2024
A new survey finds that Americans’ “magic number” for retirement has surged to an all-time high, jumping 15% in just a year and a whopping 53% since the onset of the pandemic.
As a result, Americans now believe they will need to save $1.46 million to retire comfortably, up from $1.27 million...
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BY Nevin E. Adams, JD 4/2/2024
A suit that questioned the prudence of proprietary funds, as well as alleging excessive fees and poor performance in those selections, has been dismissed.
The suit was brought by one Judy Lalonde, a former employee of Defendant Massachusetts Mutual Insurance Company on behalf of herself and a...
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BY John Sullivan 4/2/2024
The American Retirement Association (ARA) and sustainable markets advocacy organization Ceres filed an amicus brief last week in the 5th U.S. Circuit Court of Appeals. It supported the U.S. Department of Labor’s (DOL) rule “that ensures retirement plan fiduciaries, including 401(k) sponsors, can...
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