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It’s All In The Fine Print: Will Your Fiduciary Insurance Cover You When You Need It?

Carol Buckmann is an attorney who has practiced in the employee benefits field for over 30 years. This post was originally published at Pensions & Benefits Law. Will that insurer your company has been paying premiums to for all of these years stand behind you if you are sued for ERISA violations?  Have you just been relying on a broker to give ...

How Many Teachers Deserve Adequate Retirement Benefits? Some? Most? All?

Chad Aldeman is an associate partner at Bellwether Education Partners and a former policy advisor at the U.S. Department of Education. This post was originally published on TeacherPensions.org. How many teachers should be eligible for adequate retirement benefits? My answer is all of them: For every year they work, teachers should accumulate benefits ...

The More You Know: For Participants, Retirement Confidence Comes From Engagement, Education

Barely a majority of 401(k) participants are confident about their retirement readiness, and many were unsure of their investment options and how much they should be saving, according to a new survey from BlackRock. Further, education and engagement can serve as wellsprings of confidence for unsure participants. PlanAdviser has the cliffnotes: BlackRock’s ...

Inside Knowledge: An Advisor’s Take on What Makes A Great Retirement Plan Advisor

Three out of four plan sponsors hire the services of an advisor for their plan, according to the Retirement Advisor Council. And they’re looking for more from their advisor than ever before. What makes an advisor stand out? Mark Davis, Senior Vice President of CAPTRUST Financial Advisors, offers his insight in a column published in the Summer issue ...
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401(k) Nepotism: Menu-Setters Show Favoritism Towards Own Funds, Says Study

Do 401(k) service providers show favoritism towards their own mutual funds when setting investment menus? This is the question that three researchers – Clemens Sialm, Irina Stefanescu and Veronika Pool – sought to answer in a new paper published in the Journal of Finance. The short answer, according to the paper, is that setting a 401(k) menu is ...

California Legislature Passes State-Run Retirement Plan Proposal for Private Workers

The California legislature last week sent a bill to Gov. Jerry Brown’s desk that would require all businesses with more than 5 employees to either offer a retirement plan or enroll their employees in the state-run Secure Choice plan. [Read the bill here]. More from the LA Times: Secure Choice would be structured as an individual retirement account ...

DOL Eases Way For State-Run Retirement Plans For Private Workers

The Department of Labor this week announced a series of proposals and regulatory clarifications regarding state-run retirement plans for private workers — including a key clarification regarding state plans and ERISA. Among the announcements was a proposal to let large cities operate retirement plans for private workers, if there is no statewide ...

Chevron Beats 401(k) Fee Lawsuit

A federal judge threw out a class action suit challenging allegedly excessive fees in Chevron’s 401(k) plan this week. [Read the complaint here.] The ruling is noteworthy because of the influx of fee-related lawsuits that have hit 401(k) plans in recent months. Bloomberg BNA breaks down the ruling: In addition to challenging aspects of Chevron’s ...

The Disparity That’s Driving 401(k) Fee Lawsuits

The country’s top universities have been hit with an onslaught of lawsuits the last 30 days over excessive fees related to the schools’ 401(k) plans. At the heart of the trend is an interesting disparity, writes Stephen Mihm for Bloomberg: On one hand, 401(k)s and their ilk would seem to shift the burden of making investment decisions onto employees, ...

Small 401(k) Plans Stand Tall

A recent study of large versus small 401(k) plans shows that small plans perform as well – or better – than their larger peers. Judy Diamond Associates, a sister firm of BenefitsPro, culled data from about 52 million participants with $4 trillion in assets. The study, about which more information is available here, compared plan size, industry, ...
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