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Latest Marketplace News

OneDigital Acquires $500M Florida Retirement and Wealth Management Shop

PE Firm LMP Invests in Retirement Services Provider Definiti

Morningstar Launches ESG 401k Designed for Small Employers

Pontera Integrates its 401k Management Capabilities into Envestnet's Ecosystem

Sageview Launches New Financial Education and Engagement Platform for Retirement Plan Participants

Broadridge Launches Initiative to Gift Fiduciary Training to Women and People of Color in Financial Professions

Morningstar and PAi's ESG Pooled Employer Plan Goes Live

SageView Launches Financial Education Platform for Participants

OneAmerica Teams Up With Benartzi on New Retirement Income Product


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

Secure Act 2.0 Litany of Retirement Change Presents Employers Enhanced Retirement Opportunities for Employees

The SECURE Act 2.0 of 2022 became law as part of the Consolidated Appropriations Act of 2023. SECURE 2.0 builds on the Setting Every Community Up for Retirement Enhancement Act of 2019 to improve retirement savings opportunities for workers. This 6-page article highlights key provisions, organized by the same headings used in the Act.

Source: Wagnerlawgroup.com, February 2023

Podcast: Employee Contribution Failures

A common failure is not following the participant's contribution election, or perhaps failing to auto-enroll a participant otherwise eligible. So how do employee contribution failures occur, and how are they typically corrected? How do the IRS correction procedures treat automatic deferral plans? This podcast looks at these pressing questions and more.

Source: Seyfarth.com, February 2023

State-Sponsored Plans: A Look at Participation

Interest in participation in state-sponsored plans is not universal. Laurie Rowley, Co-Founder and President of Icon, a universal retirement plan, said that employees are not enthusiastic about state-run retirement plans. "Our study data shows that 70% of employees don't want to save in a state-run plan," she says.

Source: Ntsa-net.org, February 2023

IRS Updates Operational Compliance List for 403b Requirements

The IRS has updated the operational compliance list relevant to 403b requirements effective during the calendar year. The update adds a discussion of provisions that became effective in 2022. The IRS intends the list to help plan sponsors and practitioners achieve operational compliance by identifying changes in qualification requirements.

Source: Ntsa-net.org, February 2023

Excessive Fee 401k Suit Settles

While an excessive fee suit had alleged the loss of "millions of dollars in excessive fees, costs, and lost investment opportunity," the parties have settled for a fraction of that. The suit was brought in November 2021 in the U.S. District Court for the Central District of California by former participants of the VCA Inc. Salary Savings Plan.

Source: Napa-net.org, February 2023

Federal Judge Tosses Most Claims in 401k Excessive Fee Suit

Fiduciary defendants and their investment consultant, have notched a win in an excessive fee case. The suit, filed in the U.S. District Court for the District of Massachusetts, alleged that the defendants replaced well-performing funds with Aon collective investment trusts for their financial gain rather than to benefit plan participants.

Source: Napa-net.org, February 2023

Correcting Average Deferral Percentage Test Failures

The tax code governing 401k plans was written to prevent qualified retirement plans from overly favoring highly compensated employees. A series of non-discrimination tests were devised to measure whether a plan's design or operation tends to favor the HCEs over the non-highly compensated employees. This article dives into the different methods of correcting an ADP test failure.

Source: Legacyrsllc.com, February 2023

Ten Mandatory SECURE 2.0 Changes for 401k Plans

The SECURE 2.0 Act of 2022 contains over 90 provisions affecting retirement plans and IRAs, but only a handful are required changes for 401k plans. This post lists those changes and indicates when the provisions go into effect. Unless otherwise noted, 401k plans will need to be amended to reflect mandatory SECURE 2.0 changes by the end of their 2025 plan year. Some of the changes listed here, such as the paper disclosure requirement, may not require a plan amendment.

Source: Eforerisa.com, February 2023

More Articles, Papers, and Research »


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Collected Wisdom™

Our researchers look for what they think are some of the better resources available to assist you in administering your plan or helping your clients. We group these resources in our COLLECTED WISDOM™ topics to make it easy for you to locate the information you need. Each item in a category contains a summary and date of when it was placed in the group.

We also maintain some older material in these collections for perspective and context.

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