Will Hansen said plan sponsors like that the DOL offered tips rather than orders.
The Department of Labor s Employee Benefits Security Administration, in issuing its first cybersecurity guidance, made clear a point that was only previously assumed: that under the Employee Retirement Income Security Act, making reasonable efforts to mitigate cyberthreats are part of a retirement plan fiduciary s responsibilities.
And while initial impressions of the guidance were positive, some stakeholders would like to see more, including a formal rule-making process with the opportunity to provide comments.
After months of back and forth with stakeholders and a report from the Government Accountability Office with tailored cybersecurity recommendations, the Labor Department on April 14 unveiled a three-piece guidance package detailing best practices for maintaining cybersecurity for plan sponsors, plan fiduciaries, record keepers and plan participants.
Taylor Tepper - Forbes Advisor
A year has come and gone since the beginning of the Covid-19 pandemic in the United States in March 2020, upending all of our lives.
Hundreds of thousands of Americans have lost their lives, millions have lost their jobs and practically every kid (and parent) in America has endured school at home for months on end. Weâve changed how we work, how we shop and how we socialize.
But thereâs one thing that hasnât changed: retirement. Despite concerns that folks might raid their 401(k)s or companies would axe benefits en masse, most workers saved for retirement in 2020 much as they would any other year.
After One Year Of Covid-19, America’s Retirement Crisis Is Little Changed
March 16, 2021 5:00 AM Taylor Tepper - Forbes Advisor
Posted:
Updated:
March 17, 2021 7:15 PM
A year has come and gone since the beginning of the Covid-19 pandemic in the United States in March 2020, upending all of our lives.
Hundreds of thousands of Americans have lost their lives, millions have lost their jobs and practically every kid (and parent) in America has endured school at home for months on end. We’ve changed how we work, how we shop and how we socialize.
But there’s one thing that hasn’t changed: retirement. Despite concerns that folks might raid their 401(k)s or companies would axe benefits en masse, most workers saved for retirement in 2020 much as they would any other year.
Get Ultra Low-Risk Growth With A Stable Value Fund
March 12, 2021 11:46 AM Carla Fried - Forbes Advisor
Posted:
Updated:
March 15, 2021 6:09 AM
Playing it safe is tricky for retirement investors. Buy a money market mutual fund and you won’t lose any money. But you also won’t earn much, either and you may even forfeit purchasing power over time. Since the end of the Great Recession, money market fund yields have been stuck well below the rate of inflation. You could try bonds, of course. Bonds funds offer higher yields, yes, but then you get more risk, too.
What’s a risk-averse retirement investor to do? Perhaps turn to stable value funds, a potential goldilocks solution that may already be available in your workplace retirement plan.