ERISA

Proposed DOL Rule Makes Electronic Delivery the Default Method for Plan Participant Required Notices
Team SummitEmployer Resource Center, Plan Operations & AdminComments are off for this post
In the past 17 years, since the Department of Labor promulgated its safe harbor rules for electronic delivery of required notices under ERISA, electronic delivery has slowly become the norm. As plan sponsors and recordkeepers alike strive for administrative efficiency and lower costs, it only makes sense that many prefer electronic delivery of notices. It  Read More →
The SECURE Act: Legislation to Help Americans Save More for Retirement
Team SummitEmployee Outcomes, Employer Resource Center, Fiduciary GovernanceComments are off for this post
It’s no secret that Americans are not saving enough for retirement. The U.S. Government Accountability Office (GAO) recently reported that 48 percent of households aged 55 and over have no retirement savings. To address this issue, a new retirement-related bill is making its way through Congress, The Setting Every Community Up for Retirement Enhancement (SECURE)  Read More →
Changing Plan Providers: Moving Participant Investments
Team SummitEmployer Resource Center, Fiduciary GovernanceComments are off for this post
Once you’ve made the decision as plan sponsor and fiduciaries to move your organization’s retirement plan to a new recordkeeper, one of the following questions becomes what to do with participant investments. It’s very likely that the plan will have a new investment lineup when it moves to the new provider. As fiduciaries, you are  Read More →

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