Among items on DOL/EBSA's agenda: speaking with retirement plan service providers, employers and employees on what regulators can do to help increase PEP growth.
Pooled employer plans are still a nascent offering in the retirement market, but an increasing number of advisers want them available as an option and discussion point—even if they’re not recommending them.
The document changes were the same for administrative penalties, but also contained differences.
Much of the ruling sides with plaintiffs and permits the case to move to discovery, but the defendants successfully defeat claims related to cross-selling and data-sharing among providers.
Case documents show the parties engaged in extensive negotiations before reaching a proposed $1.1 million settlement agreement.
The firm says its new retirement plan offering, targeted at small employers, is ‘value focused’ and tailored specifically for efficiency.
In addition to the Form 5500 informational copies, the IRS has also released the 2021 Form 5500-EZ and related instructions.
Transamerica is collaborating with FuturePlan by Ascensus on a new group plan solution, while Fidelity and Paylocity are partnering to enhance the Fidelity Advantage 401(k) pooled employer plan.
The Direct Fiduciary program aims to allow companies to significantly reduce the amount of time spent managing an individual 401(k) plan by outsourcing administrative and investment fiduciary responsibilities.
The introduction of the Improving Access to Retirement Savings Act could be a key step toward eventual passage of retirement reforms that build on the momentum of the SECURE Act.
It focuses on MEPs, PEPs and aggregation programs.
Pentegra Retirement Services and other plan fiduciaries are accused of failing to make sure fees are reasonable and acting in Pentegra’s, not plan participants', interest.
Bradford P. Campbell, with Drinker Biddle, recently discussed specific requirements for open MEPs, now called pooled employer plans (PEPs), included in the SECURE Act.
Allowing open MEPs is a key component of the Setting Every Community Up for Retirement Enhancement Act (SECURE Act)—a bill remains stalled in the U.S. Senate.
In July, the IRS proposed regulations that would provide an exception, if certain requirements are met, to the application of the “unified plan rule,” what the industry refers to as the “one-bad-apple rule,” for MEPs.