Recently the Bell vs. ATH Holding Company, LLC (a subsidiary of Anthem, Inc.) lawsuit settled. This is frequently referred to as the “Anthem Settlement” (the “Settlement”). The Settlement received quite a bit of attention from both the industry and mainstream press for a number of reasons, not the least of which include the size of … More Anthem Settlement Awards Participants More than $23M
Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, Is it okay to use the same company for my plan’s recordkeeping, 3(38) advisory services, and administration? ~ Consolidating in California Dear Consolidating, It may seem logical to bundle all of … More Hey Joel! – Answers from a recovering former practicing ERISA attorney
As Americans look into the future and towards retirement, many understand that maintaining their health will be an important part of their overall quality of life after they stop working. However, uncertainty around healthcare costs – both now and in retirement – is a major financial worry among Americans preparing for retirement. So how can … More Four Reasons to Integrate Health Savings into your Retirement Plan
U.S. equity markets rose 4.1% (Russell 3000) in the second quarter as the Federal Reserve reversed their outlook from multiple rate hikes in 2019 to likely cutting rates. International equities rallied as well, posting a 3.0% gain over the quarter (MSCI ACWI ex U.S.). The U.S. fixed income market was up 3.1% for the quarter … More Q2 2019 Market Review
Synopsis Anthem plan participants alleged that plan fiduciaries did not perform due diligence on funds being used in the plan Parties reached a settlement that includes more than $23 million awarded to participants in addition to certain plan enhancements including: requirement to provide a participant communication on money market funds; conduct a recordkeeper RFP within … More Anthem Settlement
Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, One of my current employees recently received a notice from Social Security saying that they might be entitled to a retirement benefit. Is it my responsibility to track this money down? … More Hey Joel! One of my current employees recently received a notice from Social Security saying they might be entitled to a retirement benefit. Is it my responsibility to track this money down?
As you bask in the glory of summer over the next couple of months, don’t forget the three Fs that define this cherished season — fun, Fourth of July, and fiduciary! While you’re enjoying the fruits of summer, don’t forget your fiduciary responsibilities! Ask yourself the following questions to make sure you are on top … More Summer Homework for Fiduciaries
Americans are not saving enough for retirement. To address this issue, a new retirement-related bill is making its way through Congress, The Setting Every Community Up for Retirement Enhancement (SECURE) Act. Its purpose is to help Americans save more for retirement by creating new rules to expand and preserve retirement savings, improve the administration of … More SECURE Act – Helping Americans Save for Retirement
Welcome to Hey Joel! This forum answers plan sponsor questions from all over the country by our in-house former practicing ERISA attorney. Hey Joel, Should stable value information be included in our investment policy statement? ~ Paranoid in Portland Dear Paranoid, The cash or principal preservation alternatives can be quite varied in scope. As a … More Hey Joel! Should Stable Value Information Be Included In Our Investment Policy Statement?
Adapt to the shifting priorities of modern workers to attract and retain the best talent Longevity, demographic changes and technological innovation have revolutionized the world of work. As many employers face a coming wave of baby-boomer retirements, the resulting gaps in unique skills, experience and institutional knowledge may be difficult to fill. Keeping mature workers … More The Evolving Workscape