Watson Wyatt
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Default Investment Options in Defined Contribution Plans: A Simple Comparison
Employers increasingly provide retirement benefits to their employees through defined contribution (DC) plans. To build up enough wealth for a secure retirement, workers must save regularly and invest wisely. Automatic enrollment and effective default investments can help with both. [March 2007]
DOL Releases Guidance on Pension Benefit Statement Requirements Under the PPA
In Field Assistance Bulletin (FAB) 2006-3, the U.S. Department of Labor provides guidance on the new requirements for benefit statements for both defined benefit and defined contribution plans, which were enacted by the Pension Protection Act of 2006 (PPA). [February 2007]
How Will FASB’s Accounting Changes Affect Shareholders’ Equity and Credit Ratings?
On September 29, 2006, the Financial Accounting Standards Board (FASB) released its Statement of Financial Accounting Standards No. 158, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans (SFAS 158). [December 2006]
DOL Proposes Default Investment Guidance
The U.S. Department of Labor (DOL) has proposed guidance concerning default investments in participant-directed defined contribution plans under ERISA section 404(c), as required by the Pension Protection Act of 2006. The guidance would protect plan fiduciaries if, in the absence of investment direction from the participant, the fiduciary invests the participant’s assets in a qualified default investment alternative (QDIA) and certain notice and other conditions are met. Plan fiduciaries would still have to prudently select and monitor any QDIAs under their plans. [November 2006]