Early evidence suggests that the mandate for employers that don’t offer a retirement plan has boosted retirement savings.
While President Joe Biden’s nominee for assistant secretary of labor for the Employee Benefits Security Administration is likely to be confirmed, her regulatory approach is less clear, according to sources.
The tool was launched to bolster retirement planning resources and offer personalized support, customized solutions and best practices.
EBRI examines the potential effects several legislative motions would have on projected retirement savings.
INSIDE THE MAGAZINE PLANADVISER November/December 2021
The high court’s ruling states that the 7th U.S. Circuit Court of Appeals erred in relying on the fact that plaintiff-participants had the ‘ultimate choice’ over their investments to excuse allegedly imprudent decisions by the plan sponsor.
Meanwhile, the same law firm that filed the settled case has launched a new case with similar claims against another retirement plan’s fiduciaries.
The plaintiff in a 403(b) ERISA excessive fee lawsuit filed against Baptist Health South Florida has been ordered by a district court to enter an arbitration process.
The suit alleges that John Hancock Life Insurance Co. violated ERISA by retaining foreign tax credits generated by plans’ investments under a group variable annuity contract.
A solid retirement plan is essential for workers’ financial well-being and may be just as important as health benefits, the firm argues.
The complaint alleges several breaches of fiduciary duty, including retaining poorly performing investments.
EBRI compared accumulated net worth, retirement plan and student loan incidence for Baby Boomers, Generation Xers and Millennials at the same ages.
On average, just 0.01% of balances were traded daily in December, which is in line with the monthly average for the past year, according to Alight Solutions.