August 2016 Archive

The fiduciary’s dilemma

August 17, 2016

Much 401(k) plan fiduciary practice in recent years has been driven by litigation, particularly with respect to fees. In this article we discuss the challenge 401(k) plan fiduciaries face when they are confronted with the need to make a change in, e.g., the plan fund menu or plan providers, when there is the possibility that the fact of that change or the things they say about it may be used against them in a fiduciary lawsuit. Read More

Retirement policy agenda 2017

August 11, 2016

With the election nearing, we thought it would be useful to review the retirement benefits legislative agenda: the issues that, beginning in 2017, the new Administration and the new Congress may consider, if they choose to make retirement policy a priority. We begin with a discussion of the current retirement policy framework. We then discuss a critical defined contribution plan policy challenge: getting enough employees into workplace retirement plans. Read More

Update on state plans – 2016

August 02, 2016

States are continuing to develop initiatives to mandate employer-based retirement savings programs – generally a payroll deduction IRA with a default contribution/opt-out. In this article we begin with some background and a more general discussion the state plan issue. We then review initiatives in five states: California, Connecticut, Illinois, Maryland and Oregon. With respect to each state, we briefly discuss the current status of the state plan initiative and its coverage provisions. Read More

Brexit: What next for UK pensions?

August 26, 2016

While the short-term impact of the UK’s decision to leave the EU is apparent, the long-term picture remains unclear. What effect will Brexit have on broader long-term savings and the State pension; and what can we do now to ensure a better future for employers, trustees and individuals? In this Brexit overview, we look at how both Defined Benefit (DB) and Defined Contribution (DC) pension savings have been affected in the UK, as well as the impact to markets. Read More

July 2016 Pension Finance Update

August 01, 2016

July was a mixed month for pension sponsors. On one hand, interest rates ended the month at all-time low levels, pushing up pension liabilities. On the other hand, stock markets posted solid gains for the month and are now in healthy positive territory for the year. Overall, the news was good for both model pension plans we track – Plan A improved 2% last month but remains down 6% for the year through July, while Plan B gained 1% and is now down just 1% for 2016 so far: Read More

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