The Broker Innovation Lab celebrates brokers and other benefits stakeholders who have embraced the changing marketplace to position themselves and their business for future success
With 90-plus provisions, SECURE 2.0 is a complex piece of legislation, and there is still some confusion among plan sponsors about tax credits to cover administrative costs, as well as which provisions are optional or mandatory.
The ERISA Industry Committee wants the DOL to scale down what it calls "excessive amounts" of participant information for its SECURE 2.0-mandated Retirement Savings Lost and Found database to be launched in 2024.
A former Wells Fargo employee filed a lawsuit last week, alleging that the bank mismanaged its 401(k) plan by using assets forfeited by former workers for its own financial benefit instead of plan participants.
When benefit advisors and HR professionals conduct an employee benefit plan audit, they should focus on several key aspects to ensure compliance, accuracy and completeness.
The ERISA Industry Committee seeks clarity, on behalf of their employer members, on implementing key provisions in SECURE 2.0, including matching student loan contributions, auto-enrollment and 401(k)s for long-term, part-timers.
Here is a deeper look at five areas where automated employee benefits can reap rewards for employers and their workforce and where benefits advisors can help guide change.