Are your company's employees saving enough for retirement? Maybe not, according to a report from the National Institute on Retirement Security, which states that four out of five Americans have less than a year's income saved for retirement.
The barrage of excessive fee lawsuits filed in 2006 started a trend that continues to this day. At first, plan sponsors saw early signs of success in getting cases dismissed. Read on to learn more about lawsuits over the years and what it means for you as a plan sponsor.
If you are an employer or employee who has decision-making authority over your company’s retirement plan, there is a strong chance that you are a 401(k) plan fiduciary. You have a legal obligation to operate the plan solely in the interests of the plan participants and their beneficiaries.
As a member of your company’s retirement plan committee, if you have recently been informed that one or more of your company’s retirement plan investments are on the Watch List, don’t panic.
The use of auto features in 401(k) plans has continued to climb in popularity over the past decade. In fact, auto features such as automatic enrollment and auto escalation are considered best practices in 401(k) plan design as ways to help boost participation and employee savings rates.