Retirement Trends

Under the legislation, an employer-provided 401(k) must include automatic enrollment and a lifetime income option. If it does not, it must change its plan to do so.

The Grand Canyon Institute, based in Phoenix, said switching employees from a traditional pension plan would likely cause shortfalls as contributions from employees dried up.

The S&P 500 fell 2.3 percent to 1,741.78 at 3:02 p.m. in New York, poised for the lowest close since Oct. 23. The Dow Jones Industrial Average lost 311.13 points, or 2 percent, to 15,387.72.

Benefits, wages and salaries for civilian workers increased 0.6 percent in December, while benefits costs increased 2.2 percent for the year.

T.D. Ameritrade Trust Co. said it relied on input from RIAs to create the retirement plan strategy, which combines recordkeeping, custody and third-party administration.

Its a little bit of a shock to discover that many retirement plan sponsors are clueless about just what they need to do to make sure they dont run afoul of the regulations.