Nevin's Data "Points"

It is something of a tradition this time of year to look back, to reminisce about past events and lessons learned, and sometimes to look ahead. Here are some insights from columns past that I hope have been of value in 2017 – and will continue to be in the months ahead. 5 Things You May Not Know About Roth 401(k)s According to a variety of industry surveys, roughly 60% of 401(k) plans now offer a Roth 401(k) option, and Plan Sponsor Council of America (PSCA) data shows that 28.6% of 403(b) plans already allow for Roth contributions. Participant take-up, which just a few years ago hovered in the single digits, is now in the 15-20% range. Here are five other things you may not know about the Roth 401(k). 5 Things People Get Wrong About ERISA Fidelity Bonds One of the most important – and, in my experience, least understood – aspects of plan administration is the requirement that those who handle plan funds and other property be covered by a fidelity bond. ...

One of the most important – and, in my experience, least understood – aspects of plan administration is the requirement that those who handle plan funds and other property be covered by a fidelity bond. While ERISA requires the bond to protect the plan from losses resulting from acts of fraud or dishonesty, fiduciaries often confuse that coverage with insurance that is designed to protect them from liability. Here are five things you (or your client) may not know about ERISA fidelity bonding – and that, as a result, they may be getting wrong. An ERISA fidelity bond is not the same thing as fiduciary liability insurance. The fidelity bond required under ERISA specifically insures a plan against losses due to fraud or dishonesty (e.g., theft) by persons who handle plan funds or property. Fiduciary liability insurance, on the other hand, insures fiduciaries, and in some cases the plan, against losses caused by breaches of fiduciary responsibilities. Although many plan fiduciarie...