401(k) plans (BenefitsLink.com)Headlines re 401(k) plans, gathered by BenefitsLink.comLaw Firm Continues Probes of Fiduciary Breaches- (Found June 29, 2008 ) Excerpt: "The law firm of Stember Feinstein Doyle & Payne, LLC announced it is investigating conduct causing losses to the Fifth Third Bancorp Master Profit Sharing Plan, the company's 401(k) plan, which may have violated the Employee Retirement Income Security Act (ERISA)." (PLANSPONSOR.com; free registration required)http://www.plansponsor.com/pi_type10/?RECORD_ID=42037 Retirement Income Focus of DC Growth- (Found June 29, 2008 ) Excerpt: "That was a key conclusion of a new McKinsey & Company study on the DC market's future based on the consultant's interviews with 50 experts and its own modeling and analysis, a news release said. The study asserted that by 2015, the transformed DC market will provide a variety of asset accumulation products, a wide range of personalized advice models, transition planning from work to retirement, and retiree lifetime income solutions." (PLANSPONSOR.com; free registration...http://www.plansponsor.com/pi_type10/?RECORD_ID=42041 Five Questions When Picking a Target-Date Fund- (Found June 29, 2008 ) Excerpt: "The decision to provide these funds to participants is a no-brainer at this point, with about 80% of large companies offering target-date options in their 401(k)s, according to Greenwich Associates. But finding the appropriate family of target-date funds can be incredibly complicated for plan sponsors." (Financial Week; free registration required)http://www.financialweek.com/apps/pbcs.dll/article?AID=/20080623/REG/276976064 DC DB-ification Picking Up Steam- (Found June 29, 2008 ) Excerpt: "As an article from Investment News points out, several of the country's largest insurance companies have rolled out income products within 401(k) plans, and more are sure to follow. While the jury may still be out on how well these particular products fare, one thing seems clear to us: the trend to embrace the 'DB-ification' of defined contribution plans is accelerating." (Baker & Daniels)http://www.benefitsbizblog.com/2008/06/dc-dbification-picking-up-stea.html Study Shows Defined Contribution Plans Quickly Changing- (Found June 29, 2008 ) Excerpt: "Once just a supplement to the pension system, defined-contribution plans such as 401(k)s are growing and changing fast as they evolve into a linchpin of Americans' retirement savings and offer increasingly innovative investment options, a new study indicates." (AP via The New York Times; free registration required)http://www.nytimes.com/aponline/business/AP-Defined-Contribution-Plans.html?scp=2&sq=p... The Efficiency of Pension Plan Investment Menus: Investment Choices in Defined Contribution Pension Plans- (Found June 29, 2008 ) Excerpt: "Few previous studies have explored whether defined contribution retirement saving plans offer sufficiently diversified investment menus, though it is likely that these menus significantly shape workers' accumulations of retirement wealth. This paper assesses the efficiency and performance of 401(k) investment options offered by a large group of US employers." (University of Michigan Retirement Research Center)http://www.mrrc.isr.umich.edu/publications/index_abstract.cfm?ptid=1&pid=574 Boeing Alters Retirement Plan for New Employees- (Found June 29, 2008 ) Excerpt: "The Boeing Co. said it's changing its retirement program for new, nonunion workers, replacing its traditional pension plan with one that's similar to a 401(k) plan." (Seattle Post-Intelligencer)http://seattlepi.nwsource.com/business/368284_boeingpension25.html Attitudes Strongly Influence Participant Deferral Rates- (Found June 29, 2008 ) Excerpt: "A new Spectrem Group report indicates participant attitudes as well as demographics strongly influence the level at which they contribute to their retirement plans." (PLANSPONSOR.com; free registration required)http://www.plansponsor.com/pi_type11/?RECORD_ID=41934 Video: How to Boost 401(k) Participation Rates of Younger Workers- (Found June 29, 2008 ) Five minutes. Excerpt: "Getting younger employers to sign up for a 401k) plan can be a tough sell. Here's how to win them over." (Financial Week; free registration required)http://www.financialweek.com/apps/pbcs.dll/artikkel?Dato=20080623&Kategori=VIDEO&L... Executive Summaries of Articles in Benefits Quarterly, 3rd Quarter, 2008- (Found June 29, 2008 ) The articles are titled: The Supreme Court Gives a 'Green Light' to Individual 401(k) Lawsuits; FMLA Expanded for Leaves Related to Family Members Serving in the Military; Nationwide Savings Plan Automatic Enrollment Getting Associates PREPared for Retirement; Work Options for Older Americans: Employee Benefits for the Era of Living Longer; Alternatives to Cash in Ensuring the Solvency of Defined Benefit Pension Funds; Lessons From Pension Reform in the Americas; and, The Future of Retirement:..http://www.iscebs.org/BQinfo/bq32008.asp |