401(k) sponsors in the dark about cognitive decline
A Department of Labor advisory council compiled a wealth of testimony on the challenges that plan sponsors, advisers, record keepers and others face in identifying retirement savers’ cognitive decline and what options they have when they suspect it.
January 19, 2021 4 MINS
Retirement plan fiduciaries often have limited resources and little information when it comes to plan participants with dementia or other cognitive decline but that could change.
Last month, a Department of Labor advisory council compiled a wealth of testimony on the challenges that plan sponsors, advisers, record keepers and others face in identifying retirement savers’ cognitive decline and what options they have when they suspect it.
Solving for retirement security: Lessons from the DC institutional market man-holding-glowing-lightbulb
Future innovations in DC plans will come as much from retirement plan advisers and their clients as from the institutional market.
January 13, 2021 3 MINS
In the U.S. retirement savings system, progress has generally emerged first in the institutional market, through the innovations of some of the largest employers in their role as plan sponsor, before later taking hold in the broader marketplace and becoming industry standards.
Examples of this trend can be seen in the adoption of plan design best practices like auto enrollment and auto escalation, as well as investment lineup advances like white-labeling and the broad-based use of institutional investment structures like collective investment trusts and separate accounts.
Despite Challenging Year, CRDs and Plan Leakage Were Sparse
Recordkeepers say they saw low uptake for coronavirus-related distributions and loans, a stark contrast from what was predicted when the CARES Act was passed in March.
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When the Coronavirus Aid, Relief and Economic Security (CARES) Act was
passed in late March, just days after stay-at-home orders were mandated in states across the country, many in the retirement plan industry projected extensive withdrawal numbers and potential plan leakage.
“In the beginning, a lot of people were concerned,” recalls Dave Stinnett, principal of strategic retirement consulting at Vanguard. “There was a concern that there would be a lot of overuse or leakage.”
American Century Investments Sibil Sebastian Receives Diversity & Inclusion Rising Star Award From DCIIA
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KANSAS CITY, Mo., Dec. 14, 2020 /PRNewswire/ American Century Investments Vice President, Strategy & Corporate Development Sibil Sebastian was recognized as a Rising Star by the Defined Contribution Institutional Investment Association (DCIIA) during DCIIA s inaugural Diversity & Inclusion (D&I) Awards celebration on Dec. 10.
VP, Strategy & Corporate Development Sibil Sebastian We re very proud to have Sibil recognized by DCIIA, said American Century Co-Head of Intermediary Distribution Rick Luchinsky. She epitomizes American Century s spirit to value everyone and to help each person prepare for a secure future and ultimately live with dignity in retirement.