Employer Resource Center

Collective Investment Trusts: The Fastest Growing Investment Vehicle Within 401(k) Plans
Team SummitEmployer Resource Center, Plan InvestmentsComments are off for this post
For almost a century, collective investment trusts (CITs) have played an important role in the markets. They were originally introduced in 1927. According to a 2020 study, they are now used in more than 70 percent of plans.¹ For the vast majority of their existence, CITs were available only in defined benefit (DB) plans. In  Read More →
Plan Documents… Save or Purge?
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
Many ERISA plan sponsors are unclear regarding a primary fiduciary responsibility concerning plan document retention (which and when documents may be purged). Most plan sponsors adopt an assumed “reasonable” amount of time to retain documents prior to purging them. Unfortunately, IRS rules may not always be complicit with what may be assumed to be “reasonable”.  Read More →
Are You Hearing About Financial Wellness?
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
Employers have heard a lot about financial wellness. However, employers don’t always recognize the connection between financial wellness and improved retirement savings behavior as well as a more productive workforce overall. All employees, no matter what generation they belong to, want to work in a friendly environment where they don’t have to stress about their  Read More →

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