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Latest Marketplace News

Itzoe Launches "Fiduciary U" to Deliver Concise, Advanced Training

Oak Harvest Financial Group Launches New Retirement Plan Administration and Fiduciary Services Offering

NAPA Launches Its Latest Certificate Program: 401k Managed Accounts

PLANADVISER'S 2025 Retirement Plan Adviser of the Year Winners

Midland Advisory Partners With Dimensional on Annuities

Empower to Offer Private Markets Investments to Retirement Plans

Betterment Acquires Rowboat Advisors to Accelerate Platform for RIAs

Vestwell Partnership Allows Savvy Wealth Advisors to Manage Client 401k Plans

Empower Launches Zero-Fee Index Fund for Retirement Investors


From Across the Web, the Latest Published Articles, Papers, Research, and More

Retirement Savings Rates Reach Record High While Average Account Balances Are Lower: Fidelity

Fidelity Investments' recent analysis for Q1 2025 reveals that average balances in 401k, 403b, and IRA accounts dipped slightly during the quarter, largely due to market fluctuations. On a positive note, both employer and employee savings rates remained robust, with the total savings rate for 403b plans holding steady at 11.8% and the total savings rate for 401k plans rising to a new high of 14.3%.

Source: Fidelity.com, June 2025

DC Retirement Plan Default Beneficiary Hierarchy

Many participants in defined contribution retirement plans often neglect to designate a beneficiary to receive their remaining account balance after their death, despite efforts by plan sponsors and administrators to emphasize its importance. When a valid beneficiary designation is not in place, the plan's default beneficiary hierarchy is utilized. This also applies if designated beneficiaries do not survive the participant or if they refuse their interest in the account. This article discusses key considerations for plan sponsors concerning their plan's default beneficiary hierarchy.

Source: Verrill-law.com, June 2025

ESG Investing in 401k Plans: More Rule Changes on the Way

The DOL has notified the Fifth Circuit of its decision to reconsider the ESG investing rule. In a status report filed on May 28, 2025, regarding the case State of Utah v. Chavez-DeRemer, the DOL indicated plans for "new rulemaking" on ESG issues. It confirmed that this topic will be included in its spring rulemaking agenda and expressed intentions to proceed through the rulemaking process as efficiently as possible.

Source: Troutmanemployeebenefits.com, June 2025

Why Your Retirement Plan Committee Needs Quality Fiduciary Training

Overseeing a company retirement plan entails significant responsibilities and personal liability under ERISA. However, one essential element of effective plan management frequently gets neglected: thorough fiduciary training for your retirement plan committee. If you are a member of a retirement plan committee, it's crucial to understand the importance of fiduciary training, why it matters, and how to evaluate whether your advisor is genuinely committed to supporting your committee's success.

Source: Retirementplanology.com, June 2025

Avoiding Litigation in the Aftermath of Cunningham v. Cornell University: Procedural Protections for Plan Sponsors

Following the Supreme Court's ruling related to fiduciary duties in Cunningham v. Cornell University, there's speculation about a surge in litigation, but a significant increase in meritless claims is unlikely. Instead, fiduciary lawsuits are expected to commonly include prohibited transaction claims along with other allegations such as excessive fees or breaches of duty. The lower threshold set by the ruling may enable these prohibited transaction claims to move past the initial pleading stage, extending litigation into discovery and further proceedings. However, plan sponsors can reduce litigation risk and associated costs by consistently following specific procedural practices, regardless of the ruling's overall impact on litigation rates.

Source: Reinhartlaw.com, June 2025

Younger Americans Rewriting Rules of Retirement

Generation Z and Millennials are prioritizing early retirement savings and seeking professional financial advice more than previous generations. According to the Northwestern Mutual 2025 Planning & Progress Study, 55% of Americans believe that financial guidance between the ages of 25 and 39 is crucial for long-term stability. The study, which surveyed 4,626 U.S. adults, found that 81% of Gen Z and 82% of Millennials recognize the need for improvement in their financial planning and are taking steps to enhance it. Additionally, over a quarter of each group (28% of Gen Z and 26% of Millennials) have consulted a financial adviser for the first time in the past year.

Source: Planadviser.com, June 2025

DOL Rolls Out Updates to Opinion Letter Program

The DOL's Employee Benefits Security Administration has modernized its opinion letter program to improve compliance support. Announced on June 2, these changes aim to enhance the assistance provided to the public in understanding their rights and responsibilities under the law. Opinion letters offer official interpretations from the DOL on how laws apply to specific situations, providing clarity on regulations. Deputy Secretary of Labor Keith Sonderling emphasized the importance of these letters in offering clear and practical guidance for both workers and businesses.

Source: Napa-net.org, June 2025

En Garde! The Challenge With Forfeitures

Recent news has highlighted an increase in ERISA class action lawsuits concerning the use of forfeitures in retirement plans. This issue impacts plans with employer contributions that have a vesting schedule. To mitigate the risk of being targeted by these lawsuits, many employers are amending their plans or establishing clear written administrative policies outlining the handling of forfeitures. The goal is to eliminate discretion in managing forfeitures, thereby reducing the potential for claims of fiduciary breach.

Source: Ferenczylaw.com, June 2025

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