According to a survey from HR consulting firm Mercer, 79 percent of retirement plan participants report that their employer offers advice in their plan, up from 72 percent in 2011.
According to Investment News, a lawsuit filed earlier this month alleges that MassMutual used many high cost proprietary funds in its annuity 401(k) product, profiting more due to the fact they offered their employees their own funds.
There’s a good chance your employer will make some important changes over the next few years, as the industry ushers in changes aimed at getting you to save more – and do more planning for retirement.
The idea of preventing fraud and abuse impacts almost every man-made system, from financial transactions to manufacturing processes to government. Industry experts discuss three ways to reduce 401(k) fraud.
The ERISA Advisory Council intends to recommend that the department update current guidance related to locating lost or missing retirement plan participants.