Retirement Regulation

Having access to a retirement plan is not enough. Employers can get them in the game by maximizing their match, aligning their investment options with their beliefs and connecting them to help with their debt.

In the wake of SECURE 2.0, the Department of Labor has extended the public comment period for the Voluntary Fiduciary Correction Program that allows fiduciaries to self-correct late participant contributions.

Will a divided Congress cut retirement programs or roll back gains? We talked to the president of retirement and income solutions at Principal Financial Group about the new retirement legislation - and his 2023 outlook for the industry.

All 50 GOP senators, as well as Democrat Sen. Joe Manchin, plan to re-introduce a resolution attempting to block enforcement of the Department of Labor's new ESG regulation for retirement plans, which took effect Monday.

State attorneys general allege that the rule that rolls back ESG restrictions in investments - and went into effect on Monday - "undermines key protections for retirement savings of 152 million workers."

The newly formed Congressional Sustainable Investment Caucus will hold events, briefings and discussions with investors, fund managers, companies and regulators.

Since failure to comply with the regulations pertaining to 401(k) administration can lead to significant financial penalties, business leaders need to familiarize themselves with the new retirement plan rules starting with 2023.

For the annual review, an investment policy statement is highly recommended, which outlines general rules for the manager, provides the general investment goals and objectives and describes the strategies to employ.