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401(k) plan best practices: A plan sponsor's 2024 fiduciary checklist

By Kristen Beckman

While the DOL continues to try to refine its fiduciary rule, with the latest iteration sent to the Office of Management and Budget for review last month, there are several best practices that protect plan sponsors as well as participants.

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News

Biden's student loan 'Plan B': New proposal could wipe out debt for 30M borrowers

Research

Half of all workers don't have access to 401(k): It's a 'retirement savings crisis'

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Defined Contribution Stories

April 05, 2024

28% of workers have $0 saved for retirement: Employers, tailor your messaging

Employers spend a lot of money and time offering robust benefits packages, but it's not enough to simply offer a retirement benefit — they must understand what will work best for employees, recommends GoBankingRates.

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April 04, 2024

Employees want financial wellness, but what are they really asking for?

While most employees would stay put if an employer provided financial advice, employers need to segment their employees to address particular needs: Who wants a live webinar? Who wants personalized in-person advice?

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April 03, 2024

Washington has new state-run auto-IRA program, for employers without a 401(k)

The Washington Saves program, which will take effect in 2027, was signed into law late last week, and will require certain employers that do not offer a retirement plan to enroll employees into the state-run auto-IRA program.

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April 03, 2024

The 'new retirement': Americans are living 'more intentionally,' post-pandemic

Two-thirds of Americans said the pandemic has had an even deeper impact on retirement beyond dollars and cents, with younger generations saving an even higher percentage of their income for retirement, according to Fidelity.

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April 02, 2024

Benefits disconnect? Employees prioritize pay & 401(k), while employers do not

Employers emphasize an increase in health and dental insurance, while employees say increased pay and 401(k) matches are tops, and this could be part of the ongoing issue of high turnover, a new study suggests.

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April 02, 2024

Retirement trade group urges feds to stop DOL fiduciary rule, pass 33 proposals

The Insured Retirement Institute released its 2024 Federal Retirement Security Blueprint, urging Congress to enact changes within retirement legislation and the DOL to withdraw its proposed fiduciary rule.

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April 01, 2024

ERISA group urges DOL to simplify its new 401(k) 'automatic portability' rule

The DOL has introduced complex admin costs – to support SECURE 2.0's new automatic transfer rule for small-balance 401(k)s of workers who change jobs – and they should be eliminated, says the ERISA Industry Committee.

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Top Defined Contribution Stories

401(k) plan best practices: A plan sponsor's 2024 fiduciary checklist

Biden's student loan 'Plan B': New proposal could wipe out debt for 30M borrowers

Half of all workers don't have access to 401(k): It's a 'retirement savings crisis'

Recommended Just For You

Defined Contribution Stories

28% of workers have $0 saved for retirement: Employers, tailor your messaging

Employees want financial wellness, but what are they really asking for?

Washington has new state-run auto-IRA program, for employers without a 401(k)

The 'new retirement': Americans are living 'more intentionally,' post-pandemic

Benefits disconnect? Employees prioritize pay & 401(k), while employers do not

Retirement trade group urges feds to stop DOL fiduciary rule, pass 33 proposals

ERISA group urges DOL to simplify its new 401(k) 'automatic portability' rule