Blog
Plan Ahead for New Disclosures
The Department of Labor (DOL) issued final participant fee disclosure regulations that apply to participant-directed individual account plans, including those that intend to comply with ERISA Section 404(c). Their purpose is to provide uniform disclosure to participants about fees and expenses of a plan’s investment options. The final rules were effective on December 20, 2010,..
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How Does Your Plan Compare?
Participation Rate Stayed Steady The average participation rate in 401(k) plans was 82.3 percent at the end of 2009, according to the 53rd Annual Survey of Profit Sharing and 401(k) Plans by the Profit Sharing/401(k) Council of America (PSCA). The rate the year before was 82.7 percent. Small plans (1 to 49 participants) had a..
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Women’s Financial Security Studied
A survey of American women found that many lack confidence in making financial decisions and don’t have a good understanding of today’s sophisticated financial products. Prudential’s Financial Experience & Behaviors Among Women also revealed that women are optimistic about the future and want financial education and guidance. Despite the fact that a majority (55%) believe..
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Boomers “At Risk” in Retirement
The Employee Benefit Research Institute’s (EBRI) Retirement Readiness Rating suggests that almost half of early baby boomers (ages 56-62) are “at risk” of running short of money for basic retirement expenses and uninsured health care costs. Among late boomers (ages 46-55), about 44 percent are “at risk,” and 44 percent of Generation X (now ages..
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Retirement Plan Design
There is no such thing as a “One Size Fit’s All” Retirement Plan. In fact, the care that goes into the design and implementation of your retirement or employee benefits program is key to the plan’s ultimate success. Plans can be designed as savings programs for employees, or as incentives for owners and key executives...
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