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Quarterly Considerations – 12/31/2013
New Year, New Regs ‐ Expect a number of new defined contribution plan regulations in the coming year. A fiduciary definition, annuity‐related safe harbor provisions, followup rules on fee and investment disclosures, and a requirement that plans illustrate lifetime earnings streams to participants are agenda items for the DOL and SEC in 2014. We’ll keep you updated.
DSA 401(k) Plan Survey ‐ Our new 401(k) Plan Survey will provide you an invaluable benchmarking tool for plan design, participant experience, and fees. Our data will help you improve employee retirement readiness through improved plan design. Look forward to our findings next quarter.
On the Mend ‐ Given improved funding status, many pension plan sponsors had already or will soon take steps to de‐risk their plans to lower funded status volatility. Companies may be further incented by risk transfer strategies this year given higher discount rates and increasing PBGC premiums.