"Businesses that are required to implement the MyCTSavings program have five or more employees paid more than $5,000 in the calendar year.... If your company has five or more employees and is not yet sponsoring a retirement plan, you have several alternatives to MyCTSavings.... MyCTSavings launched its pilot program in August of 2021 and the full rollout of the program is expected in the first half of this year."  MORE >>

"[T]he proposed rules would require registered investment advisers and investment companies to implement written cybersecurity policies and procedures, reviewed at least annually, that are responsive to exposures identified through written risk assessments. The rules would also require advisers and funds to assess the cybersecurity risk posed by service providers that process information on their behalf or that have access to their information systems."  MORE >>

"It was understood, especially after the decision in Tibble, that defined contribution plan fiduciaries were subject to the ongoing obligation to monitor investments. The ruling does, however, put to rest the argument that offering lower-cost investment options effectively immunized fiduciaries from imprudently offering higher-cost options." [Hughes v. Northwestern Univ., No. 19-1401 (S. Ct. Jan. 24, 2022)]  MORE >>

36 pages. "Survey responses indicated that ... individuals were largely opposed to changing the tax preferences or investment control in [401(k)] accounts. A majority of respondents also affirmed a preference for control of their retirement accounts and opposed proposals to require a portion of retirement accounts to be converted into a fair contract promising them income for life from either the government or an insurance company."  MORE >>

"[T]he impact of rising rates will produce different consequences for different bonds.... Rising rates will put downward pressure on any mutual fund that owns bonds, including balanced funds.... High inflation and rising interest rates haven't really been [seen] since the 1980s. Few advisors today have experience from that era. Most, indeed, have retired."  MORE >>

"[M]anaged account adoption has remained stagnant for several years now, while index-based target-date funds have grown in popularity.... [R]etirement wealth has risen tremendously over the past five years, such that the growth of plan assets may offer fiduciaries the opportunity to consider different vehicle structures or investment solutions -- namely collective investment trusts, separate accounts and custom solutions."  MORE >>

"In 2011, 28% of respondents had plan assets invested in TDFs compared to 44% in 2021. 95% of 2021 respondents are using TDFs as the plan default ... 38% of plans currently offer index target date funds and 70% of those plans offer a 'tier' of three or more index funds in their core menu. The median percentage of plan assets invested in index funds is 40%.... While nearly all respondents currently offer the makings of a 'retirement tier,' most plans lack an option providing guaranteed lifetime income."  MORE >>

"Interest rates and Treasury yields experienced a sizable increase last month. As interest rates continue to grow, the savings from purchasing annuities will also grow. Annuity Purchase Costs decreased by roughly 2% for Annuity Plan 1 and nearly 4% for Annuity Plan 2. Annuity purchase cost for retirees has consistently been between 98%104% of the pension accounting value (GAAP PBO)."  MORE >>

"[1] Understand how your pension works ... [2] Find out if you contribute to Social Security ... [3] Invest in a 403(b) and/or 457(b) ... [4] Understand the basics of investing ... [5] Continue to educate yourself."  MORE >>

"[The Teachers Retirement System (TRS)] and ... the Employees Retirement System (ERS), together covering about 330,000 workers and retirees, are virtually penniless. Their combined unfunded liability totals $43.2 billion. With about $1.8 billion in assets to pay $45 billion in liabilities, the 96 percent combined shortfall is among the biggest of any U.S. state pension this century ... And they're only sinking further."  MORE >>

"Today, Representatives Donald Norcross (D-NJ-01) and Tim Walberg (R-MI-07) ... reintroduced the Lifetime Income For Employees (LIFE) Act of 2022. This legislation would allow annuities to be a default in employer-provided 401(k) plans to deliver employees with a steady, guaranteed income during retirement."  MORE >>

"[It] was hoped that the Court would adopt pleading standards that would bring consistency to the adjudication of ERISA breach of fiduciary duty class action lawsuits directed at 401k and 403b plans. Unfortunately, the Court issued a narrow ruling that left unresolved the issues that have been dividing the lower courts for years.... The Court did send some signals, however, as to how a workable pleading standard could be developed in the future." [Hughes v. Northwestern Univ., No. 19-1401 (S. Ct. Jan. 24, 2022)]  MORE >>

"Early in this new documentary, the director's message seems to be that retirement finances are messy, elusive, and too complicated for mere mortals to understand. He's right on all counts.... In the end, the documentary lands on something the experts can agree on: annuities are good.... The question that is not answered in this documentary: is there a practical way to make retirees financially secure when voluntarily saving a pot of money and understanding what to do with it is crucial?"  MORE >>

"[F]inancial wellness programs are now becoming an essential workplace benefit.... An employer retirement match is an attractive employee benefit that can help an employer set themselves apart.... Some employers are adding a profit-sharing arrangement to their 401(k) plans.... [O]ther benefits include providing caregiver leave and rethinking paid time off (PTO) policies.... If your company offers an HSA, now may be a good time to remind employees of this benefit and how to enroll in the account or to increase their contributions."  MORE >>

"[T]he benefits of arbitration can only be realized if it is enforceable. [A chart] highlights the most common reasons courts have refused to enforce mandatory individual arbitration in ERISA plans and offers potential solutions for overcoming these judicial obstacles."  MORE >>

"The changes that these industry leaders are making in their stock grant designs will be widely observed and may be emulated by other companies.... With stock markets in decline at the start of 2022 and IPOs underperforming, concerns about underwater stock options have resurfaced."  MORE >>