Defined Contribution

Companies used upwards of 10 pages of their 10-Ks talking about their DB plans, whereas only a sentence or two were dedicated to discussing their defined contribution plans.

The growth underscores the growing demand for professional investment services among workplace savings accounts, such as 401(k) plans.

Things are dire enough that a coalition of employers and labor unions is asking Congress for permission to cut benefits to retired truck drivers, miners and others as a last resort in order to prevent plans from going under.

The Massachusetts Securities Division is calling on 401(k) plan administrators to report how many companies have shifted to a lump-sum matching contribution once a year, a change that can undermine worker savings.

Transparency in 401(k) fees has been a major topic for more than a year. As more light has been shed on them, some plan sponsors have been able to get them lowered.

Sen. James Rosapepe, Sen. Richard Madaleno and Del. Tom Hucker will announce the legislation they are sponsoring at a press conference on Thursday, Feb. 27.