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Plan Sponsor

Get the latest retirement plan industry news, education and tips you need to know to help navigate your fiduciary responsibilities. Contact your Plan Consultant with any questions.

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The Retirement Reshuffle Is Impacting Plan Sponsors

Across the nation, more and more workers are expecting to postpone retirement. In fact, a survey by the Nationwide Retirement Institute shows that 40% of older employees plan to retire later than anticipated because of inflation. And delays don’t just affect employees — more than a third of employers are concerned about increased health and benefit costs, negative impacts on their staff’s mental health and barriers to hiring new talent.

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Three Risk Considerations for Utilizing Retirement Assets

Various solutions exist to reinforce retirees’ ability to manage the drawdown of the wealth and effectively use their assets and maintain a comfortable standard of living. The portfolio management can be guided and informed by plan sponsor, but the participant has some key considerations regarding longevity and liquidity risks. Below, we break down these areas and provide a piece of communication for you to share with your participants to get them thinking their long-term plans for prudent utilization of the retirement assets.

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IPS Can Still Add Value for Plans Despite Goldman Sachs Dismissal

Investment policy statements (IPSs) are commonplace among retirement plans — with around 83% providing one. And that number tends to be even higher among bigger plans. Financial powerhouse Goldman Sachs is one of the larger employers that doesn’t utilize an IPS. In fact, this was the subject of a recently dismissed lawsuit by a former Goldman employee, whose attorney alleged that the company violated ERISA by, among other things, failing to adopt an IPS.

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DOL Updates Guidance on Auditor Independence for Retirement Plan Engagements

In September, the U.S. Department of Labor (DOL) released an Interpretive Bulletin that updates guidance on audits of benefit plans under the Employee Retirement Income Security Act. The updated guidelines are intended to help determine when a qualified public accountant is independent for the purpose of auditing and rendering an opinion on the Form 5500. With the new guidance, DOL removes what it describes as certain “outdated and unnecessarily restrictive provisions” and reorganizes other provisions for clarity.

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