PLANADVISER - The trusted information and solutions resource for ...
PLANADVISER is the trusted information and solutions resource for America's retirement benefits decision makers. With its powerful array of customer-driven marketing programs, PLANADVISER offers industry providers an unparalleled ability to reach this influential audience.
DOL Updates Guidance on Audit Independence Rules
Sep 2, 2022 · The U.S. Department of Labor has issued new guidance for retirement plan fiduciaries, technically referred to as Interpretive Bulletin 2022-01, that addresses the rules about audit independence that apply to retirement plans governed by the Employee Retirement Income Security Act. Want the latest retirement plan adviser news and insights?
IRS Notice Clarifies SECURE 2.0 Automatic Enrollment, Tax Credits ...
Dec 28, 2023 · Section 101 of SECURE 2.0 requires defined contribution plans that are created after the law was enacted on December 29, 2022 to have automatic enrollment and deferral features starting on January 1, 2025. Specifically, plans must enroll participants at contribution levels of between 3% and 10% of salary and escalate by 1 percentage point a ...
Great-West Rebrands Retirement Businesses as Empower
Oct 30, 2014 · Mar 20, 2014 – Great-West Lifeco Inc. announced plans to combine the retirement businesses of Putnam Investments and Great-West Financial. Apr 03, 2014 – Great-West reached an agreement to acquire the J.P. Morgan Retirement Plan Services ’ large-market recordkeeping business, which has $167 billion in plan assets across 200 plan sponsor ...
Magazine Articles - PLANADVISER
Just the Facts. Boomers Hold Half of the Nation’s Wealth Annuity Sales In the first 9 months of 2023, total annuity sales increased 21% to $270.6 billion.Source: LIMRA, U.S. Individual Annuity... On the Move.
Stable Value Funds Amid High Interest Rates | PLANADVISER
May 8, 2024 · Cohen preaches education about stable value funds for plan fiduciaries. The portfolio manager says he oversees four stable value funds for John Hancock, but also advises on third-party funds for the firm’s recordkeeping business. “Stable value is not so different than Baskin-Robbins,” Cohen says. “There are 31 flavors of stable value.
IRS Summarizes Retirement Plan Hardship Withdrawal Rules
Nov 2, 2021 · The rules for participant hardship withdrawals from 401 (k) and 403 (b) plans have changed since the passage of the Bipartisan Budget Act of 2018 and subsequent IRS regulations, and the agency has updated its “Issue Snapshot – Hardship Distributions from 401 (k) Plans” to reflect those changes. The bill called for the secretary of the ...
Prudential, RGA Assume Verizon Pension Obligations of $5.9B
Mar 8, 2024 · Verizon Communications Inc. has transferred $5.9 billion in employee pension obligations through the purchase of single-premium group annuity contracts from Prudential Insurance Co. of America and RGA Reinsurance Co., according to a filing on March 6, when the plan sponsor closed the purchase of the contracts. The group annuities will provide benefits to 56,000 retirees who began receiving ...
United Technologies Announces Pension Buyout, Lump-Sum …
Oct 7, 2016 · This action is expected to reduce United Technologies’ pension benefit obligations by approximately $995 million by year-end 2016. Together, these related actions are part of United Technologies’ overall plan to de-risk its pension plans and are expected to reduce the overall size of the company’s pension plans by approximately $1.77 billion.
Nuts & Bolts: QDIAs - PLANADVISER
Jan 23, 2024 · According to the 2023 PLANADVISER Adviser Value Survey, investment menu review is more likely when a sponsor is working with a retirement plan adviser. Those plan sponsors with an adviser reported reviewing investments quarterly at a rate of 54.9%, annually at 24.2% and twice per year at 16.5%. Sponsors without an adviser reported reviewing ...