Upon first blush, to the extent an employee from the general populace can and wishes to make a contribution as a committee member, there seems to be no reason why they shouldn’t participate on the committee. In practice, most committees consist of executives from finance (preferably the CFO), benefits and human resources. Due to the potential exposure, if there is interest from other lay people … Continue reading May Any Employee Serve on the Retirement Committee?
Millennials vs. Generation Xers and Baby Boomers Contrary to their reputation, Millennials stack up surprisingly well against Baby Boomers and Gen Xers across key financial wellness indicators, including debt and savings rates. However, Millennials diverge when it comes to investing for the future.1 For example, Millennials are saving nearly as much for retirement as Baby Boomers (as a percentage of annual salary) and are more … Continue reading Financial Wellness Insights
A plan may have one or more fiduciaries. Each of the fiduciaries may have different responsibilities and many individuals/committees serve in multiple fiduciary roles. Here is a simplified list, along with brief definitions, of each category of fiduciary: Named Fiduciary. This party should be named in the plan document and is considered the plan’s primary decision maker. This fiduciary may be either an employee … Continue reading The Six Categories of Fiduciaries
Specialty asset classes are those which do not fall into the “core” group of asset classes. Core asset classes include: U.S. domestic equities, international, and fixed income. For the purpose of this commentary, specialty asset classes consist of the following: technology, health care, emerging markets, and real estate. While specialty asset classes can provide value when constructing a fully diversified portfolio, their inclusion in a … Continue reading Specialty Asset Classes in a Retirement Plan Menu