Risk Management
Tech Talk discusses some best practices for reducing the risk of fraud and loss to retirement accounts.
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Editor’s Note: This is the fourth in a series about the guidance the Department of Labor’s Employee Benefits Security Administration (EBSA) issued on April 14 concerning cybersecurity. The first is here; the second is here; the third is here.
The Department of Labor’s Employee Benefits Security...
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When the Labor Department issued last month what it called “new guidance” that it further described as “the first time the department’s Employee Benefits Security Administration has issued cybersecurity guidance”—well, I, for one, was expecting… guidance.
However, rather than an advisory opinion...
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Editor’s Note: This is the first in a series about the guidance the Department of Labor’s Employee Benefits Security Administration (EBSA) issued on April 14 concerning cybersecurity.
The Department of Labor’s Employee Benefits Security Administration (EBSA) on April 14 issued comprehensive...
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Things certainly were bad, and are improving. But there is more ground to cover in that recovery, said an industry expert at a session of the NTSA Winter Virtual Summit.
In “2021 Outlook: The Recovery Takes Hold,” a Feb. 23 session, Brian Levitt, a Global Market Strategist, Invesco, discussed the...
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In MarketBeat, John Iekel writes about a recent blog entry in which Alison J. Cohen of the Ferenczy Benefits Law Center LLP and David Kruse of Tetra Defense warn that cyber criminals are increasingly creative and sophisticated and suggest steps that can be taken against cyber crime.
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After the economic strains of 2020—and all that has meant for retirement plans and those who serve and participate in them—there are signs of hope for 2021, said an industry expert in a recent webinar.
In the PenChecks webinar “The US Economy in 2021—Implications for the Pension Industry,” Alex...
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Confidence is alive and well among Baby Boomers regarding their retirement, impervious even to pandemic and economic turbulence, says a recent study.
A strong majority—84% of those who are close to retiring or who have already—in Charles Schwab’s 2020 Modern Retirement Survey said they believe...
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In MarketBeat, John Iekel discusses a recent blog entry that argues that cyber breaches of retirement plans put more than participants at risk—they also put plan sponsors at risk of fiduciary liability.
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Not all broker-dealers and investment advisers are adequately addressing the various security risks in relation to their network storage solutions, which could result in unauthorized access to information stored on the device, according to a new SEC Risk Alert.
During recent examinations, staff...
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Many factors are in play when you’re designing retirement income strategies. In MarketBeat, John Iekel discusses a recent analysis from T. Rowe Price that argues that investors’ preferences and tolerance for risk should be most prominent.
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How would you respond in the below scenario?
Imagine that the United States is preparing for the outbreak of an unusual disease, which is expected to kill 600 people. Two alternative programs to combat the disease have been proposed.
Assume that the exact scientific estimates of the consequences...
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Years ago, the watchword was that the IRS was making an effort to be kinder and gentler. Many may want to debate that, but the IRS does perform functions intended to be helpful — and a Nov. 14 NTSA webcast discussed one of them.
In “IRS Audits: A Necessary Evil,” Ed Salyers, who was a longtime...
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“Data security is a team sport.” That’s how FIS Chief Risk Officer Greg Montana summed up cybersecurity efforts at a June 20 session of the SPARK National Conference held in Washington, DC. The panel included not only experts from the private sector, but also Deputy Assistant Secretary for...
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Prospects for state and local employees’ financial security in retirement are better than that of their private-sector counterparts, according to a new paper from the National Association of Government Defined Contribution Administrators (NAGDCA). Nonetheless, the paper argues, steps still...
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The IRS and the Department of Labor are actively encouraging lifetime income and enhancing retirement security. The most recent part of that effort is a final regulation the IRS released that permits longevity annuities in retirement plans and IRAs. But will this guidance actually change...
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Relying on the traditional methods for determining a client’s tolerance for risk can be risky in itself, according to Michael Kitces, speaking at the 2014 NTSA 403(b) Summit in Washington, D.C., on June 24. Kitces is a partner and director of research at the Pinnacle Advisory Group. Putting a...
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The funded status of public- and private-sector pension plans is a classic example of bad news/good news. To wit: Some states’ pensions are in bad shape, but funding of public-sector pension plans overall is improving; corporate pensions’ funded status fell in April, but only very slightly. State...
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