In this sixth installment of our series on "pooled employer plans" or PEPs (also known as "open multiple employer plans" or MEPs), we asked 401(k) experts if this new type of workplace savings plan would in fact be cheaper to run than current plan options, and would therefore entice more small employers to begin offering plans to their employees. There was no simple or definitive answer.
'There are three factors that we think are converging and are likely to help move the needle” in terms of expanding plan adoption by small employers, said Ben Norquist, CEO of Convergent Retirement Plan Solutions, during a LIMRA webcast this week.
Continental Benefits Group, Inc., and 401kPlus will be folded into Ascensus' TPA Solutions division, Ascensus announced this week.
The York University finance professor, author and annuity consultant suggests that academics focus less on trying to solve the 'annuity puzzle' and more on 'normative advice.'
'Within an open multiple employer plan would exist a guidance platform--the Retiree MEP--where participants could receive objective information about retirement saving and distribution,' said Ted Goldman, Senior Pension Fellow at the American Academy of Actuaries.
Ireland’s government is exploring several pensions and welfare reforms, including changes to the state pension, new protections for defined benefit plans and participants, and the introduction of automatic enrollment.
The agreement transfers the responsibility for paying certain pension benefits to approximately 13,000 U.S. retirees, as well as their beneficiaries, from Raytheon’s previously discontinued operations.
House passed a bill raising contribution limits to health care savings accounts (HSAs). The Employee Benefit Research Institute expects individual contributions to HSAs to rise as a result.