The Internal Revenue Service (IRS) website explains what defined contribution (DC) plan sponsors can do if they fail to timely deposit withheld salary deferrals.
Employers are increasingly using 401(k) plan design strategies to simplify plan participant decision-making around enrollment, contributions and investing, a survey found.
Putnam Investments unveiled a dedicated defined contribution investment only (DCIO) website for consultants, recordkeeping firms and investment research professionals.
Plan design coupled with product design can result in better outcomes for retirement plan participants, said Stephen Bozeman, senior product strategist at BlackRock.