After replacing its pension plan with a cash-balance plan last year, IBM has now completed a PRT, transferring $6 billion in defined benefit pension plan obligations for 32,000 participants.
In this first year of the Starter 401(k), 75% of small employers went with this new 401(k) over their state-run auto-IRA program due to its simplicity, according to Jeff Rosenberger, COO of retirement platform Guideline.
Transitioning from voluntary to auto-enrollment in 401(k)s, coupled with auto-escalation, should be a key plan design feature for employers, recommends the Morningstar Center for Retirement & Policy Studies.
Employers and plan sponsors must prioritize guaranteed income options in 401(k)s as a necessity – not just a "nice-to-have" option, according to a Nationwide's Protected Retirement survey report.
Advisors can serve as a bridge to address the retirement readiness gap, helping plan sponsors—and in turn, employees— be better prepared for life in retirement, according to a new Fidelity survey.
With the acquisition, Voya will grow its Workplace Retirement Plans, since OneAmerica serves employers and plans of all segments and sizes, including startup.
Callahan Financial, Richard Bernstein and other registered investment advisors made untrue or unsubstantiated claims or lacked required disclosures, according to the Securities and Exchange Commission.
It's essential to connect the program to wider business initiatives (end of the year or open enrollment) and Include messages of support from the CEO to demonstrate the program's importance, recommends financial wellbeing provider nudge.
Four million Americans will be turning 65 every year for the next four years, which is why employers need to communicate the in-service distribution option to employees, says Joseph Roop, president, Belmont Capital Advisors.