Stable value strategies are investment options that primarily seek to preserve capital and whose return is based on a pre-determined crediting rate. We have developed this primer to expand the dialogue and provide new investment committee members with a strong foundation from which to select and monitor stable value strategies.
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The trend of commercial database breaches involving the disclosure of personally identifiable information (PII) does not appear to be slowing down. As a retirement plan sponsor and fiduciary, there are steps you should take to mitigate the risk of fraud from occurring within your plan.
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Personal financial stress in the United States continues to create concern and awareness of economic instability. What makes up the debt and how does it differ from the past?
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It is no secret that retirement benefit plan cost structures have been under intense scrutiny in recent years. Across the board, plan fees have seen a marked decrease which is positive for plan participants and their retirement savings. With these fee compressions, retirement industry service providers with multiple financial services business units have been searching for alternate revenue streams to fill the void. Plan fiduciaries need to evaluate and understand what is being done with plan participant data, as well as the solicitation practices associated with these non-plan products and services.
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Plan loans are a popular feature of 401(k) and other retirement plans. Workers may be more likely to save for retirement in an employer sponsored plan if they know they can access their savings during their working years. And if they do need to do so, a plan loan enables them to restore their savings, with interest, back to their retirement plan account.
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Mid-year offers opportunity to check in with your 401(k) plan clients to see how their plans fared on mid-year testing. These test results don’t count against the plan in any way, but they are a helpful gauge of whether the plan could fail nondiscrimination testing at year end–when there are consequences for failed testing results.
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This white paper examines IRS Private Letter Ruling (PLR 201833012), issued May 22, 2018. In the PLR, the IRS ruled that a student loan repayment (“SLR”) program included in an employer-sponsored 401(k) plan did not violate the “contingent benefit” prohibition of Code Section 401(k)(4)(A).
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Workers who save for retirement in their employer’s 401(k) plan generally don’t have access to their savings until they change jobs or retire – unless they suffer a financial hardship.
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Abbott Laboratories secured a Private Letter Ruling (PLR) from the IRS, allowing them to make an employer contribution to their 401(k) plan on behalf of employees who are making student loan payments.
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Most 401(k) plans allow plan participants to access their retirement savings while they’re still working if they have a significant financial hardship. Recent legislation and subsequent IRS guidance have changed the rules governing these hardship distributions.
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