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What investment options should be offered for 401(k) and 403(b) plans?
When building an investment option lineup for a 401(K) or 403(b) plan, what is an optimal choice to have from a best practices point of view? Per our recommendation, it should broadly follow the selection process below: Offering 10 to 16 core funds which cover broad asset class exposures like U.S. Equities (Large, Mid and Small Cap), International Equities (Large and Small Cap), Emerging Market Equities (Large and Small... -
Employers Ramping Up Retirement Plan Features, Advisory Services
Employers are enhancing their retirement plans and increasing access to professional investment advice in an attempt to bolster employee retirement readiness. A new study by Aon Hewitt, which polled more than 400 plan sponsors serving 10 million plan participants, revealed a number of initiatives being taken to strengthen employee ability to achieve greater financial security in retirement. Key actions include the following: Boosting employer matching funds: The percentage of... -
What are the Fiduciary Rules?
Every plan must have a fiduciary(s) responsible for the operation of the plan. A fiduciary can be identified as a person or as an office, such as a company’s board of directors. Many plans have several fiduciaries, each being responsible for a different aspect of the plan’s management. Fiduciaries can be held liable if they fail to properly carry out their responsibilities and also for the mistakes of another... -
Americans Continue to Face Saving Challenges, Survey Finds
According to a survey released last month by America Saves and the American Savings Education Council (ASEC), just 35% of Americans feel they are making good or excellent progress in saving money. Nearly two-thirds (63%) say they’re making fair or no progress. However, nearly 7 out of 10 (68%) say they are spending less than they are earning and saving the difference, and 64% report having emergency savings to...
