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Your clients offer 401(k) plans, and all have 401(k) plan committees. Those committees have fiduciary responsibility, and it’s in your clients’ interest to make sure they are fulfilling their duties. They can do that through meetings of those committees and quarterly reviews, our friends at the...
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The ERISA Advisory Council has thrown its support behind the notion of multiple employer plans as a means of encouraging plan formation.The recommendation came as part of a series of suggestions regarding outsourcing employee benefit plan services following hearings held by the ERISA Advisory...
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The ERISA Advisory Council has published its recommendations on facilitating lifetime plan participation.Following up on a series of meetings last year, the council outlined a series of recommendations for plan sponsors and the Department of Labor to help preserve retirement savings. Specifically,...
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New Chairman of the Senate Finance Committee Orrin Hatch (R-Utah) has staked out his plans, and the committee’s agenda, for dealing with pension reform.In his speech at the U.S. Chamber of Commerce last week, Hatch specifically highlighted key portions of that bill in his speech, pitching a new “...
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The Pension Benefit Guaranty Corporation (PBGC) was not arbitrary and capricious when it concluded that Kentucky Bancshares was obliged to comply with the Section 1107 of the Pension Protection Act (PPA) as well as ERISA’s standard termination requirements when it terminated its retirement plan and...
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Implementation and appreciation of the value of automatic enrollment is increasingly widespread among employers. Several recent studies have found that more employers are using it, although one points out that enthusiasm about auto features is not universal.In a recent study of 100 employers with...
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The 114th Congress has officially kicked off, and federal tax reform remains high on the agenda for this year. On Jan. 15 the Senate Finance Committee, the committee with jurisdiction over tax policy, released a statement announcing that Chairman Orrin Hatch (R-Utah) and Ranking Member Ron Wyden (D...
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A powerful coalition of retirement, union, and so-called consumer protection groups has launched a new effort ahead of the president’s State of the Union address, and doing so now because he is expected to throw his support behind the Department of Labor’s fiduciary rule (re)proposal. Yes, that one...
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A year ago, President Obama touted the voluntary MyRA in his State of the Union Address — but the White House has a lot more to say about retirement this year — and it’s a lot less voluntary.According to a White House fact sheet, the administration is touting a series of retirement tax reform...
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Concern for — and plans for action about — retirement plans is widespread among employers. Aon Hewitt studied 250 employers with six million employees, and in 2015 Hot Topics in Retirement found that employer-provided retirement plans remain central to retirement readiness, and that employers know...
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