retirement
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Retirement Plan Leakage
- November 12, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
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Retirement plan leakage can result in a reduction of assets available for individuals when they reach retirement age. It also creates the opportunity for technology developments and consulting opportunities about how to preserve retirement plan assets.
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Contract Considerations for Service Providers
- October 28, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
A key aspect of plan governance is understanding the contract provisions of each party providing services to the plan. Plan sponsors can expose themselves to potentially substantial monetary risk if they do not review and understand service provider agreements thoroughly.
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Automatic Enrollment: the Power of Default
- October 22, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
As we near the end of 2019, the time is right for plan sponsors to review the feasibility, advantages, and disadvantages of adding automatic enrollment features. Many participants want to save for retirement, but they do not want to go through the process of making the necessary decisions to enroll in their employer sponsored plan. Automatic enrollment could be the answer.
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Simplify Menus to Encourage Participant Engagement
- September 18, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
Complex fund menus lead to participant confusion, disengagement and poor investment decisions, so the traditional DC investment menu spread across asset classes and styles is evolving toward a smaller set of choices. Some examples are simplifying the plan menu with fewer, broader menu choices, and re-labelling those choices to correspond with the way participants understand their retirement objectives.
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DOL Investigations of Retirement Plans: 10 Key Areas of Focus
- September 2, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
Plan governance is a key element in defining a retirement plan standard of excellence. Our resource outlines 10 key areas the DOL is focused on regarding the governance of a qualified plan. As indicated in the article, only a couple of the key areas of concern deal with the investments in the plan.
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Inspiring Participants Using Automation
- July 29, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
A key element of “Defining a Retirement Plan Standard of Excellence” is creating a retirement plan which will inspire participants to save for retirement. One method to accomplish this is to automate the plan as much as possible so participants do not have to make uncomfortable decisions.
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Defining a Retirement Plan Standard of Excellence: Key Elements
- July 18, 2019
- Posted by: Jeff Atwell
- Category: Financial Plan, Resources
The white paper we’re discussing today touches on key elements of Defining a Retirement Plan Standard of Excellence. We’re looking at how providers monetize recordkeeping while maintaining that Standard of Excellence.
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Redefining Defined Contribution Plans for the 21st Century
- February 7, 2019
- Posted by: Jeff Atwell
- Category: Resources
This 2018 article by Willis Towers Watson redefines Defined Contribution plans in a way that is helpful for 2019 and beyond. The resource looks at ten areas comparing the 21stcentury retirement plan to a 20th century retirement plan. The private retirement system has to evolve in order to preserve our profession. The 10 areas outlined in
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Retirement Plans for Each Generation
- January 4, 2019
- Posted by: Jeff Atwell
- Category: Resources
Plan sponsors are likely to find themselves working with participants from a variety of generations, from Baby Boomers to Millennials, and each generation raises different concerns about the future of retirement. We look at these concerns and how we can best address them.
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Maintaining Your Recordkeeper Relationship
- November 21, 2018
- Posted by: Jeff Atwell
- Category: Resources
A key element in Defining a Retirement Plan Standard of Excellence is plan governance. Plan fiduciaries should have a good understanding of the services being provided by all the service providers of the plan. There are some important areas to consider in regard to the recordkeeper providing services to the plan, such as compensation, fees, and evaluation of the plan.