Service Providers
There is frequently a difference between doing what the law requires and doing everything that you could do as a plan fiduciary. That said, there are things that plan fiduciaries must do and things that—while not required—can keep the plan, and plan fiduciaries, out of trouble.
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It is possible that sometimes an employee’s elective contribution may not timely deposited for a variety of reasons. In MarketBeat, John Iekel writes about a blog entry that points out that there are consequences to that, as well as ways to address such a situation.
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In response to an increased threat of retirement account fraud, nearly a third of recordkeepers expect to boost their cybersecurity staff going forward, a new report from Cerulli finds.
Even though plan providers have always been subject to cyberattacks, this is an issue that has become more...
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The 2021 NTSA Summit provided a unique opportunity for industry experts to provide their insights on issues relevant to the NTSA community. Following is a look at our news coverage of the Summit.
Education Market in Transformation
The education sector of the retirement plan market is in a period...
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New research finds that retirement plan participants have clear preferences when it comes to communications, but employers and the retirement planning industry are not always listening.
In setting out to discover what language and formats work for savers, the Empower Institute explains in “Less...
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Many Americans are struggling with burnout—which if left unaddressed, can affect not only an individual’s wellbeing, but the success of firms, according to Jennifer Moss, a burnout expert and author of The Burnout Epidemic.
Speaking at the NAPA 401(k) Summit Sept. 13, Moss discussed the current...
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Amid the rapidly changing regulatory and investigative initiatives at the Department of Labor and IRS, plan advisors can serve their clients well by helping them stay ahead of the curve, a panel of industry insiders said Sept. 12.
At an opening-day workshop session at the 2021 NAPA 401(k) Summit...
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As asset management firms compete for assets in a primarily virtual environment, data can help distribution teams increase productivity by identifying the next best opportunities, but system integration and data sourcing remain challenges for many firms, according to a new report by Cerulli.
When...
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In MarketBeat, John Iekel discusses a webcast in which Toni E. Whaley, a financial planner with PlanMember Securities Corporation, addresses how business as usual in the financial services industry “came to a screeching halt” with the onset of the COVID-19 pandemic and business suddenly became...
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My wife Conni and I have lurked in the netherworld of retirement plan administration for decades now, working on those things nobody ever sees. One of the ways we explain what we do to friends and family is with a story about their own 401(k) and 403(b) plans. What we tell them is that when they go...
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Every plan has participants—and, sooner or later, will therefore have “ex” participants—and sometimes those participants go…missing. And that can be a real problem for retirement plan fiduciaries, writes Nevin E. Adams, JD, in MarketBeat. He adds that while most are likely aware of the fiduciary...
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Tech Talk offers some steps that can be taken to make plan data more secure.
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The NTSA traditionally offers access to a recording of a webcast (including both audio and visual portions of the presentation) approximately one week following the original live webcast presentation. These recordings are available for 1 year after the date of the original live webcast. Below is a...
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The Department of Labor reportedly is engaging in a letter-writing campaign urging retirement plan fiduciaries to recoup amounts held by former recordkeepers or paying agents that may have been overlooked during the transition of a service provider relationship.
According to an Aug. 13 blog post...
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Sens. Todd Young (R-IN) and Cory Booker (D-NJ) have reintroduced several bills to help boost retirement security for individuals and families.
Citing data by the U.S. Department of Labor showing that more than 40 million people do not have access to any workplace retirement plan, the pair...
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The plaintiffs in a 403(b) excessive fee suit have persuaded a federal appellate court that (some of) their claims warrant a further consideration.
One of the first of the 403(b) university excessive fee suits, the plaintiffs brought this suit against NYU in its capacity as the fiduciary of...
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It goes without saying that fiduciary duties must be fulfilled. In MarketBeat, John Iekel writes about an industry expert’s warnings that there are fiduciary duties often are overlooked.
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One of the many consequences of the global pandemic is that there is a spotlight shining on the importance of virtual security. And that includes sharing personal protected information (PPI), argues a CPA firm.
In the pre-COVID world, says Cassell Plan Audits in its blog, many companies had...
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Women have an important voice on economic issues, and an upcoming complimentary virtual gathering will discuss that and more.
On Thursday, Aug. 19, Rachel Pearson—founder of Engage, a bipartisan organization focused on expanding economic opportunity for American women—will speak on how to get...
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The risks entailed in fiduciary duty gave rise to fiduciary insurance. But what affects the premiums charged for that insurance? A recent report gives an inside look at what fiduciary insurers think about that.
In “What Drives Fiduciary Liability?” Aon reports on what 12 fiduciary insurance...
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