The ERISA Advisory Council has provided the DOL with recommendations for design and delivery improvements with respect to the Summary Plan Description, the Annual Funding Notice and the Summary Annual Report.
EBRI also found not only do individual account assets make up a large portion of families’ financial assets, but those with individual account assets also have substantially higher levels of net worth than those families without them.
According to Willis Towers Watson’s Thinking Ahead Institute’s 2018 Global Pension Assets Study, the institute sees shifts in investment models for retirement plans across the globe.
In the majority of cases, the plan’s consultant/adviser conducts the benchmarking (82.8%)—higher than in prior years, Callan finds.
A final rule opens the current program to terminated DC plans and small professional service defined benefit plans.
The app generates a personal projection of monthly income in dollars or, if preferred, shows the progress towards a stated financial wellness goal in retirement as a percentage of pre-retirement income.