Big Data to Drive Participant Outcomes
October 1, 2019
If you want to predict the wants, needs, and fears of participants when it comes to retirement planning, look into the potential of predictive analytics. The use of “big data” (a bite-size term often used instead of the nerdier “predictive analytics”) is helping to steer plan sponsor actions towards enhancing 401(k) participant outcomes and providing […]
Northeast Benefit Services Inc.
Lawsuits Over the Years and What it Means for Plan Sponsors
September 1, 2019
Formation of Lawsuit Trends The barrage of excessive fee lawsuits filed in 2006 started a trend that continues to this day. At first, plan sponsors saw early signs of success in getting cases dismissed. However, this changed after a few years when participants started honing in on claims of self-dealing, i.e. the plan’s fiduciaries benefitting […]
Northeast Benefit Services Inc.
Our 401(k) Investments are on the Watchlist. Now What?
August 1, 2019
Approach, review, document, and decide As a member of your company’s retirement plan committee, if you have recently been informed that one or more of your company’s retirement plan investments are on the Watch List, don’t panic. This is an opportunity for due diligence and possibly to enhance the plan’s performance. Approach As a thoughtful […]
Northeast Benefit Services Inc.
Automatic Features to Help Boost Participation and Savings Rates
July 1, 2019
The use of auto features in 401(k) plans has continued to climb in popularity over the past decade. In fact, auto features such as automatic enrollment and auto-escalation are considered best practices in 401(k) plan design as ways to help boost participation and employee savings rates.1 Many large 401(k) retirement plans offer auto features. However, […]
Northeast Benefit Services Inc.
Share Class ABCs: Choose Wisely
April 19, 2019
Share Class ABCs: Choose Wisely Choosing mutual funds for your retirement plan’s investment lineup can feel like wading through a sea of alphabet soup. Fund companies typically offer multiple share classes, each sporting its own unique letter. A shares, C shares, I shares, R shares — what does it all mean? Luckily, you don’t have […]
Northeast Benefit Services Inc.
Four Tips to Boost Your Employees’ Retirement Outlook
March 26, 2019
As many employees look ahead to retirement, 47% of workers feel somewhat confident that they’ll have enough money saved to retire on time and then live comfortably.1 However, forward-thinking employers have the ability to help their employees work toward a confident and happy retirement. According to the 2018 Retirement Confidence Survey from the Employee Benefit […]
Northeast Benefit Services Inc.
Risky Business: Why Plan Governance Matters
February 12, 2019
Participant-driven lawsuits are on the rise, and employers are facing heightened scrutiny of the way they manage their retirement plans. In today’s continually-evolving regulatory and legal environment, it’s more important than ever to make sure your organization’s retirement plan is both effective and compliant. A well-structured retirement plan governance program can help you pursue these […]
Northeast Benefit Services Inc.
NEBSTPA Presents ERISA Update: New Conflict of Interest Regulations
June 13, 2018
Northeast Benefit Services Inc.
What does it really take to retire?
December 5, 2017
As a plan sponsor, your employees rely heavily on your guidance; after all, you manage the plan that may offer their best shot at a successful retirement. When the 401(k) plan was introduced in the mid-80s, it was not intended as a standalone solution.
Northeast Benefit Services Inc.
Your Mid-year 401(k) Plan Check-up and Tune-up
November 4, 2017
As we round the corner to 2018, I can’t help but wonder, where did the year go? It feels like January and New Year’s resolutions were just yesterday. Alas, those days have come and gone, and the “next” New Year is only a few months ahead. This means now is the time to focus on […]
Northeast Benefit Services Inc.
Evaluating Your Fiduciary Process
October 7, 2017
Believe it or not, an efficient retirement plan committee does not happen by chance. The “best practices” your committee upholds form the foundation for a prudent process creating an opportunity for employees to pursue their retirement goals. Companies of any size can benefit from a consistent process and should consider implementing a few of the […]
Northeast Benefit Services Inc.
NO “ONE-SIZE-FITS-ALL” PLAN
September 25, 2017
Retirement plans come in all shapes and sizes: DC Plans, DB Plans, Non-Qual, 401(k), 403(b), 401(a), 457, SEP IRA, Simple IRA, Roth IRA, Cash Balance, HSA… and any other number letter combinations that you can think of. The simple truth is that there is no one-size-fits-all version of a retirement plan; and as a plan […]
Northeast Benefit Services Inc.
