401(k) Plans Archives - Word on Benefits

Hardship Distributions: Five Questions for Plan Sponsors

Kathy Bergstrom, CEBS

27 Dec 202427 Dec 2024

It’s become easier for plan participants to take distributions from their defined contribution (DC) retirement plan account balances, but plan sponsors still have a fiduciary duty to ensure that the need for these distributions is real. In the November/December issue of Benefits […]

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17 Tips for 401(k) Loan Program Design

Jenny Gartman, CEBS

12 Dec 202412 Dec 2024

Many 401(k) plans allow participants to take out loans from their individual 401(k) account. According to Employee Benefits Survey: 2024 Results, 81% of corporate employer plans offered a 401(k) loan provision. While loan options provide flexibility for those hesitant to contribute to […]

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SECURE 2.0 Act: What’s Coming in 2025?

Amanda Wilke, CEBS

19 Nov 202419 Nov 2024

The SECURE 2.0 Act of 2022 (SECURE 2.0) encompasses several changes affecting retirement plans that go into effect over the next few years. SECURE 2.0 aims to make it easier for employers to offer retirement plans and help employees plan for the […]

401(k) Plans Employee Benefits SECURE 2.0 U.S.

IRS Guidance on Qualified Student Loan Payment (QSLP) Match Programs

Jenny Gartman, CEBS

11 Sep 202423 Sep 2024

Section 110 of the SECURE 2.0 Act of 2022 allows employers to make matching contributions toward employees’ qualified student loan payments (QSLPs) to 401(k) plans, 403(b) plans and governmental 457(b) plans (and SIMPLE IRAs plans not summarized in this blog). Internal Revenue […]

401(k) Plans Employee Benefits Retirement U.S.

Top Reasons for 401(k) Loans

Jenny Gartman, CEBS

04 Sep 202404 Sep 2024

Many 401(k) plans allow participants to take out loans from their individual 401(k) account. According to Employee Benefits Survey: 2024 Survey Report, 81% of corporate employer plans offered a 401(k) loan provision. While loan options provide flexibility for those tentative to contribute […]

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Employee Retirement Security Awareness

Amanda Wilke, CEBS

28 Aug 202428 Aug 2024

Retirement is a milestone for employees that requires careful planning. Unfortunately, many employees have fallen behind in their retirement savings goals, leading to feelings of insecurity about retirement and an increase in stress and anxiety impacting their engagement, morale and productivity. Even […]

401(k) Plans Defined Contribution (DC) Plans Investments Multiemployer Retirement U.S.

The Multiemployer Retirement Plan Landscape: DC Takeaways

Justin Held, CEBS

01 Aug 202401 Aug 2024

According to The Multiemployer Retirement Plan Landscape: A 15-Year Look (2006-2020), the average defined contribution (DC) plan account balance increased from $23,400 at the end of 2006 to $54,100 at the end of 2020, while aggregate disbursements also grew. The increase in […]

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Understanding ERISA Liability in the Context of Pharmacy Benefits

Anne Newhouse, CEBS

17 Jul 202417 Jul 2024

Fiduciary responsibility has always been a concern for retirement plans governed by the Employee Retirement Income Security Act of 1974 (ERISA). The language on the Department of Labor (DOL) Fiduciary Responsibilities webpage explains, “The primary responsibility of fiduciaries is to run the […]

401(k) Plans Compliance DOL Employee Benefits ERISA Retirement SECURE 2.0 U.S.

Three DOL Developments for Retirement Plan Sponsors

Jenny Gartman, CEBS

09 Jul 202409 Jul 2024

So far in 2024, the Department of Labor (DOL) has released proposals for plan administrators to populate a missing participant database and automatic portability of retirement plan accruals when employees change jobs. The DOL also finalized a retirement security rule package and […]

401(k) Plans Compliance DOL Employee Benefits ERISA ERISA50 Legislative Pensions Retirement U.S.

The DOL Retirement Security Final Rule: Highlights for Plan Sponsors

Jenny Gartman, CEBS

20 Jun 202420 Jun 2024

On April 25, 2024, the Department of Labor (DOL) published the retirement security final rule defining fiduciary status for investment advice to retirement investors under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (IRC). It is set to […]