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Keeping Up with The Trends in 401(k) Plans

July 21, 2014

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benefitsbclp

Keeping Up with The Trends in 401(k) Plans

July 21, 2014

by: benefitsbclp

Idea AheadIn the scheme of things, it was not that  long ago that defined benefit pension plans were the main retirement plan game in town.  But now – for better or for worse – 401(k) plans rule in the private arena.  In the age of constant evolution in technology and streamlining of processes, it can be hard to keep up with the latest and greatest in plan design.

Think about it – the final qualified default investment alternative (QDIA) rules were published not even seven years ago, but now if you don’t have lifecycle or target date funds (TDFs) in your plan and/or you haven’t considered adding them, you may be among the distinct minority of 401(k)s.  Statistics indicate that participants like these funds. Fidelity reports that nearly 1/3 of

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Department of Labor Issues Further Fee Disclosure Guidance

May 23, 2012

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benefitsbclp

Department of Labor Issues Further Fee Disclosure Guidance

May 23, 2012

by: benefitsbclp

On May 7, 2012 (and updated May 17), the Department of Labor issued Field Assistance Bulletin 2012-02, consisting of 38 questions and answers that clarify some of the issues raised since the issuance of the final regulations on participant fee disclosures with respect to designated investment alternatives in individual account plans. The Q&As cover a range of issues, including:

Brokerage Windows. The participant fee disclosure regulations (§2550.404a-5(h)(4)) provide that brokerage windows are not “designated investment alternatives,” but do not provide specific guidance on how the regulation applies to brokerage windows and what disclosures are required. The FAB clarifies that brokerage windows are covered by the regulations, but that they are subject only to plan-related disclosures of administrative fees and expenses under §2550.404a-5(c). The disclosures include (1) a description of the window (how and to whom to give investment directions, account balance requirements, limitations or restrictions on trading, how

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