More companies and participants are putting money into their plans, and at higher rates than in previous years, Plan Sponsor Council of America(PSCA) found.
Nationwide Financial Services added the Nationwide Fixed Select Contract to its retirement plan offerings to help participants grow plan assets and meet retirement needs.
Despite efforts to improve defined contribution (DC) plan participation and savings, employers lack confidence in the retirement readiness of their employees.
More than one-third (37%) of adults would like a professional to help them manage retirement accounts but do not think they have sufficient investments.
Participants in 401(k) plans prefer more proactive steps to increase their retirement readiness rather than historical transactions on their account statements, a study found.
Trustees of the Irotas Manufacturing Co. Inc. 401(k) plan have been sentenced for embezzling $487,000 from the plan, and have been ordered to pay restitution.
The Department of Labor’s (DOL’s) re-proposal of the definition of fiduciary is another indication that fiduciary responsibilities are increasing, and broker/dealers in particular could be impacted.
The 401K Coach released the Fiduciary Advisor’s Rollover Toolkit to provide a solution and formal process for financial advisers to offer rollover IRA services.
Setting a higher starting point for retirement plan contributions would make a significant difference in improving workers’ likelihood of a financially viable retirement, research found.
The Investment Company Institute and Deloitte Consulting LLP have found total fees for defined contribution (DC) plans were lower in 2011 than in 2009.