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Latest Marketplace News

IRS Announces 2025 Retirement Plan Limits

2025 Retirement Plan Adviser of the Year Nomination Period Is Open

PensionPro, Finch Join Forces to Streamline Plan Administration

LeafHouse Ramps Up Personalization With New BlackRock, iJoin Collaboration

Agilis Launches Lifetime Income Tool PensionBuilder

US Retirement & Benefits Partners Acquires Pension Planning Consultants

Alera Group Announces Retirement Plan Services Expansions

2024 PenChecks Trust ASPPA Scholarship Winners Announced

T. Rowe Price Launches Lifetime Income Solution for Retirees With Pacific Life


Latest Published Articles, Papers, and Research From Across the Web

IRS Announces 2025 Retirement Plan Limits

On November 1, 2024, the IRS announced that the contribution limit for 401k plans will increase to $23,500 for 2025, up from $23,000 in 2024. Additionally, the IRS provided technical guidance on cost-of-living adjustments impacting pension plans and other retirement-related items for tax year 2025 in Notice 2024-80.

Source: 401khelpcenter.com, November 2024

Coca-Cola Southwest Faces Lawsuit Over Forfeitures, Target-Date Funds

Former participants of the Coca-Cola Southwest Beverages LLC 401k plan have filed a lawsuit alleging that the company breached its fiduciary duties under ERISA. The complaint, known as Ware et al. v. Coca-Cola Southwest Beverages LLC, claims that the company offered "underperforming" target-date funds and mismanaged forfeited 401k funds. Specifically, the plaintiffs allege that the J.P. Morgan TDFs provided by Coca-Cola SW were expensive and underperformed compared to similar funds and benchmarks. The case is being heard in the U.S. District Court for the Northern District of Texas.

Source: Plansponsor.com, November 2024

Most Hybrid RIAs Favor Retirement Fiduciary Standard

The article discusses a survey of hybrid registered investment advisors, which are firms that offer both investment advisory and brokerage services. The survey revealed that a significant majority of these hybrid RIAs (68%) prefer a fiduciary standard for retirement advice. The fiduciary standard requires advisors to act in the best interests of their clients, ensuring that the advice given is not only suitable but also beneficial for the client's financial well-being. The findings highlight a growing consensus among RIAs regarding the importance of transparency and ethical standards in retirement planning.

Source: Planadviser.com, November 2024

IRS Announces 2025 Cost of Living Adjustments to Various Retirement Plan Limits

The IRS has announced cost-of-living adjustments for retirement plan limitations effective January 1, 2025. While inflation rates have stabilized, resulting in modest increases, these adjustments are still welcomed. The updated limits include slight increases in the 415 and 402(g) limits, as well as new limits for additional catch-up contributions for participants aged 60-63 and deferral limits for Starter 401k Plans.

Source: Ferenczylaw.com, November 2024

DOL Fiduciary Rule Update -- Where Are We Now and Best Practices for Retirement Investors: Podcast

This podcast features a "Lessons From The Front Lines" discussion focusing on the DOL Fiduciary Rule. The panel of experts, including Jason Berkowitz from the Insured Retirement Institute, David Kaleda from the Groom Law Group, and Jason Roberts from the Pension Resource Institute, will share insights on the current status of the rule, future developments, and best practices for firms regarding investment recommendations and services for retirement investors.

Source: Complianceincontextpodcast.com, November 2024

Saving for Retirement Can Be Challenging: Help Your People

The article from Segal Consulting discusses the challenges employees face in saving for retirement and emphasizes the crucial role employers can play in alleviating these difficulties. It highlights that many workers struggle with financial literacy and are overwhelmed by competing financial priorities, making it hard to focus on long-term savings. Employers are encouraged to implement strategies such as providing educational resources, personalized financial advice, and robust retirement plan options to assist their workforce. The piece advocates for a proactive approach to retirement planning, underscoring the mutual benefits for both employees and employers in fostering a supportive environment for saving for retirement.

Source: Segalco.com, October 2024

Schwab 401k Study: Employers Step Up to Help Workers Manage Financial Stress

The Charles Schwab 401k Study reveals that employers are increasingly taking proactive steps to assist employees in managing financial stress, particularly in the context of retirement savings. The study highlights a growing awareness among employers of the impact that financial difficulties can have on employee well-being, productivity, and overall job satisfaction. In response, many organizations are implementing resources and support systems, such as financial wellness programs and educational tools, to empower workers in their financial decision-making. The findings emphasize the significant role that employers play in fostering a supportive environment that promotes financial literacy and stability, ultimately benefiting both employees and the organizations they work for.

Source: Schwab.com, October 2024

How Are Plans Handling Missing Participants?

The article addresses the difficulties plan administrators encounter in locating missing participants and distributing their plan balances, especially for terminated employees. Although there are no specific regulations from the DOL regarding this issue, plan sponsors are expected to show a reasonable effort to distribute funds to these individuals. A survey conducted by the Plan Sponsor Council of America in September 2024 revealed insights from 234 plan sponsors across various sectors about their strategies for managing missing participants and small plan balances. Will Hansen, the Executive Director of PSCA, noted that this concern is prevalent among plan sponsors, who allocate considerable time and resources to the issue. The survey aims to highlight current trends and practices in addressing these administrative challenges.

Source: Ntsa-net.org, October 2024

More Articles, Papers, and Research »


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