401k

Staying the Course: Employees Stick with Target Date Funds
Team SummitEmployer Resource Center, Plan Investments
Target date funds (TDFs) are the most common qualified default investment alternative (QDIA) in 401(k) plans. At year-end 2022, more than two-thirds of participants in the Employee Benefit Research Institute/Investment Company Institute (EBRI/ICI) 401(k) database held TDFs in their account. A recent ICI study suggests most participants appear to be buying and holding these funds  Read More →
Employee Data Faces Increased Regulatory Scrutiny
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & Admin
Retirement plan sponsors are well accustomed to fiduciary obligations around investment selection, fee reasonableness, and plan administration. Increasingly, however, another consideration has been drawing regulatory attention: how participants’ personal and financial data is collected, used, and shared by the service providers that help run the plan. What a GAO Report Found In a February 2026  Read More →
SECURE 2.0 Plan Amendments Are Due by Year-End
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & Admin
Qualified retirement plans must adopt written amendments for SECURE 2.0 changes by December 31, 2026. The deadline applies broadly, and even plans that elected no optional provisions must amend for mandatory changes like the increase in the required minimum distribution age. Collectively bargained plans have until December 31, 2028, and governmental plans until December 31,  Read More →

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