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Abstract: Most Millennials are not contributing at least 15% of their income toward their 401(k) plans, but a majority are moving in the right direction, a new study finds. Source: Planadviser.com
Abstract: A recent survey found that 26% of small business owners aren't confident about their retirement savings. Establishing a retirement plan is key to retirement confidence. Article provides some practical steps to move you towards establishing a retirement plan. Source: 401khelpcenter.com
Abstract: Defined contribution (DC) retirement plan participants strongly value their workplace retirement plan and would like to see their employers do more to help them save because, looking back on their savings history, they regret not doing more to prepare for retirement. These were the main findings of an American Century Investments survey of 1,504 full-time workers conducted by Matthew Greenwald in the first quarter. Sponsor: PlanSponsor.
Abstract: Because of a number of factor including the recent class action lawsuits and a new focus by the Department of Labor and Internal Revenue Service on a number of issues including fees, plan sponsors need to be more vigilant. They also should take proactive steps to ensure that all plan fiduciaries have a good understanding of their obligations in overseeing the company's retirement plans. Here is a general overview of fiduciary duties and responsibilities. Source: 401khelpcenter.com
Abstract: Despite the plethora of recent headlines about excessive fee lawsuits, regulatory audits, not litigation, is cited as a key risk in a recent plan sponsor survey. Large plans appear to be particularly targeted, but a certain type of plan design seems to be drawing a particularly high level of scrutiny. Source: Napa-net.org
Abstract: To me, ERISA is an important regulatory framework for corporate and other plan sponsors to follow that mandates that such sponsors be prudent in administering such plans. Are governmental plans free from ERISA-like prudence requirements? Sponsor: PlanSponsor
Abstract: In a survey by Willis Towers Watson, nearly one third of the respondents reported that their retirement plans had been audited by the IRS or the Department of Labor. Roughly half of employers with at least 25,000 employees said they had been audited in the last two years. So why do we have so much difficulty convincing some plan sponsors and fiduciaries to prepare by reviewing their own plans first? Source: Cohenbuckmann.com
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