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Mrs401k to Offer Pooled Employer 401k Plans
iJoin and PenChecks Automate Force-out IRA Processing
401k Averages Book Finds 401k Plan Fees Continue to Decline
Registration for the 2021 NAPA 401k Summit Is Now Open
Unison Risk Advisors Launches New Pooled Employer Plan
Ascensus Announces Completion of Truist Retirement Recordkeeping Acquisition
Betterment Partners With Zenefits on 401k Deal
Retirement Industry Specialists Create A Powerful New Partnership
Cammack Retirement Group Joins CAPTRUST
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Latest Published Articles, Papers, and Research From Across the Web
The U.S. Government Accountability Office has released a report examining cybersecurity in private-sector defined contribution retirement plans and exploring how federal guidance can mitigate cybersecurity risks. The agency is asking the DOL to review its guidance on cybersecurity administration. The GAO report starts by reiterating that DC plans, plan sponsors, and their service providers share personally identifiable information and plan asset data, and therefore increase their risks of cyber hacks.
Source: Planadviser.com, March 2021
Colorado is moving forward with its automatic-IRA program, seeking bids beginning this week from investment and plan consultants. Last year, the state passed legislation to establish the program, after spending a year considering different approaches to expanding retirement plan access. It is one of a handful of states to begin implementing public retirement-savings initiatives for private-sector workers.
Source: Investmentnews.com (registration may be required), March 2021
Collective investment trusts are on pace to overtake mutual funds as the dominant target-date vehicle, data from a Morningstar report published today show. CITs represented 43% of target-date assets at the end of last year, up from just 18% in 2014, according to Morningstar's Target-Date Strategy Landscape report. Assets in those investments surpassed $1 trillion last year, reaching about $1.18 trillion, compared with $1.57 trillion in target-date mutual funds.
Source: Investmentnews.com (registration may be required), March 2021
403b plans have been known to receive a bad rap related, in part, to the difficulties surrounding the public K-12 marketplace with which they are associated, and also due to the perception that they are a step behind 401k plans concerning marketplace innovations. Despite these challenges, there are several distinctive features of 403b plans that may give them a leg-up on other types of plans.
Source: Cammackretirement.com, March 2021
The Consolidated Appropriations Act, 2021 is mostly known for the $900 billion it provided in additional stimulus funding for pandemic relief. But the law also contains several useful provisions for retirement plans, including non-COVID disaster emergency relief, multiemployer, and defined benefit plan changes, and updates to partial plan terminations. All of these provisions are discretionary and have very narrow applicability. Regardless, plan sponsors should take the time to understand the relevant parts of the law and see whether the various provisions might benefit their organizations and plan participants.
Source: Bdo.com, March 2021
The law firm of Capozzi Adler, P.C. has found another 401k plan to sue, and this one a multiple employer plan. The plan -- more specifically the plan fiduciaries -- targeted are those of Nextep, Inc., a Professional Employer Organization, as well as the firm's board of directors, the investment committee, and members of that committee.
Source: Asppa.org, March 2021
Julie Su, who was nominated to serve as Deputy Secretary of Labor, spent much of her nomination hearing defending her record as California's labor secretary, but she did field a couple of questions about retirement policy.
Source: Asppa.org, March 2021
Automatic enrollment triples the 401k plan participation rate among new hires according to some recently updated research from Vanguard. The research shows default decisions made by defined contribution plan sponsors under automatic enrollment indeed have a powerful influence on participant saving and investment behavior.
Source: 401kspecialistmag.com, March 2021
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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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