Defined Contribution

After denying a request by financial groups to extend the public comment period for the new proposed rule, the DOL is now giving stakeholders a chance to make their case at a virtual hearing on Dec. 13 and 14.

Plan sponsors and advisors could face heightened scrutiny under the proposed fiduciary rule, however, they can learn more about the new regulation at a virtual public hearing next week or file public comments by Jan. 2, 2024.

Does it need an overhaul? Along with benefit plan amendment deadlines and implementation requirements, the turning of the calendar is a good time to reassess if benefits are robust enough to recruit and retain the best talent.

PEPs are a compelling option for employers and advisors seeking efficient, cost-effective recordkeeping solutions – and by entering a PEP, the employer reduces its fiduciary responsibilities.

Most of the new retirement legislation's 92 provisions will kick in for plan sponsors in 2024 and beyond – meaning many companies relying on Excel and similar legacy software are at a crossroads.

The administration last week emailed 813,000 borrowers, who weren't credited for payment that would have made them eligible for student loan forgiveness under IDR plans, telling them their balances had been reduced to zero.