Aided by many low-cost providers and proponents of DB plans or a nationalized DC system, the media continue to focus on fees as the main culprit in the so-called retirement crisis. As a result, plan sponsors and participants are hearing the message that lower cost is better — as evidenced by a... READ MORE

The DC system in general, and 401(k) plans specifically, are under attack in various ways and from various directions. But what everyone seems to be ignoring is that the participant-directed retirement system, which is the envy of a world still heavily dependent on DB and government-funded plans,... READ MORE

Plan sponsors are required by the IRS and/or the DOL to provide notices to eligible employees and plan participants at specific times of the year related to the status of the plan or the participants’ accounts. A list from by Baden Retirement Plan Services (an Ascensus company) provides a quick... READ MORE

So, what are some early anecdotal results of the 408(b)(2) requirements among plan fiduciaries? That depends on whether the fiduciary is diligent or not, according to new research by the law firm Bryan Cave. Overall, very few plan sponsors were able to determine on their own whether their fees were... READ MORE

In another sign of the shift from DB to DC plans, former Los Angeles Mayor Richard Riordan has filed a ballot initiative to overhaul the city’s employee pension system. Riordan’s plan would require future workers to enroll in 401(k)-style retirement accounts instead of government pension plans. The... READ MORE

Most DC plans do not even have an Investment Policy Statement (IPS), which is debatedly required. So do we need another document that could potentially create liability? The answer is laid out brilliantly in a Transamerica Retirement Solutions white paper: a resounding “Yes.” In a compelling case... READ MORE

By Thomas D. CloughAccording to a recent study by Alliance Bernstein, only 63% of all plan sponsors consider themselves to be plan fiduciaries. The cases summarized below highlight the DOL’s commitment to a rigorous enforcement of the law and underscore the need for competent guidance on ERISA... READ MORE

In another sign of the importance of DC plans, the Fed reported in its triennial Survey of Consumer Finances that DC plan balances accounted for 61.4 percent of families’ total financial assets in 2010, up from 58.1 percent in 2007, as median net worth declined 38.8% and income declined by 7.7%.... READ MORE

The DC Record Keeper Consolidation List details significant deals in the defined contribution market since 1999. It is provided in three parts:• 1999-2002 (click here);• 2003-2005 (see below); and• 2006-September 2012 (click here).To download a pdf file of the comprehensive 1999-2012 list, click ... READ MORE