Ironically, while some see lowering the savings limit as politically palatable because it impacts only a small segment of the population, that same fact reduces the effect of such a policy shift.
Tag "fiduciary"
As long as the fiduciary ball remains in the Executive Branch’s court, it’s easy to predict what will happen. That doesn’t mean, however, that we won’t see some surprises coming from the Legislative Branch.
Think of the third party as the food truck in the parking lot. Employees will see it and decide for themselves whether to engage with it.
What’s one way 401k plan sponsors can ensure they establish a due diligence framework that can best reduce their fiduciary liability?
I do not underestimate the ability of the plaintiff’s bar to come up with novel and clever arguments, but for the reasons set forth in the white paper I do not believe that they can construct a viable theory.
A lot may depend on who Trump selects to head up the DOL in his second term. If we start seeing familiar faces, that might indicate the department’s direction.
Here the intent is to make it possible for a plan/IRA to apply the QDIA safe harbor to involuntary rollovers. But how will this impact plan participants?
The tangled web of ERISA regulations grows worse each year. Is this too much for companies responsible for maintaining 401k plans?
It’s tempting to turn your attention to your company, some academic theory, or even—hush!—“best practices.” The truth is, as a fiduciary, you only have one job.
Summary of 2024: Navigating the Evolved Fiduciary Landscape for Retirement Plan Fiduciaries
2024 was a year of adaptation for retirement plan fiduciaries who navigated through regulatory changes, legal landscapes, and participant needs with a renewed focus on governance, liability management, and the holistic management of retirement plans.