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Articles by Patty Kujawa

Workers, Employers Fret About Life After Retirement—25 Years Later

July 13, 2011
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Longevity is one of the largest factors retirees need to think about when turning 401(k) lump sums into a stream of monthly retirement payments. As the primary educators for accumulating retirement nest eggs, plan sponsors are going to need to adapt educational awareness to help employees understand the concept of making their retirement funds last. How are employers making this shift—from accumulation growth education to education about making money last?
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Explaining the Labor Department's ERISA Regulations

July 1, 2011
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On June 1, the Labor Department formally proposed to extend the effective date of this interim final regulation, known as Section 408(b)(2) of the 1974 Employee Retirement Income Security Act, to Jan. 1, 2012, from July 16, 2011. It is expected the rule will become final in late summer or early fall.
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Supreme Court Finds Devil's in the Details of Summary Plan Descriptions

June 9, 2011
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HR managers dealing with retirement plan information need to make sure that information in the plan documents and summary plan descriptions are consistent while keeping information as simple as possible.
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Enrollees Continue Banking on DC Plans for Loans and Withdrawals

May 31, 2011
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401(k) plan participants have been pulling out funds more in the past two years than before. What does this mean for plan sponsors, plan participants and the future of retirement savings?
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Older Workers Exercising Plans to Delay Retirement

May 17, 2011
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According to the Employee Benefit Research Institute’s Retirement Confidence Survey, 1 in 5 workers say they aren’t going to retire on time. How are companies preparing for this trend of older workers who don’t leave—or who are applying for jobs?
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Organization Looks to Make Annuities an Option for Plan Sponsors

April 28, 2011
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Annuities aren’t viewed as a popular retirement income stream for employers with defined contribution plans. However, an increasing number of providers are offering annuity products for plan sponsors to introduce to participants. What are these products, how do they work, and do they benefit plan sponsors?
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Labor Department Weighs New Definition of Fiduciary

March 31, 2011
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For the first time in 35 years, Labor Department officials are exploring whether they should change the definition of ‘fiduciary’. The agency wants to make the change so it can better protect the rights of participants, but the benefits community doesn’t see it that way.
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Young Workers Craving Defined Benefit Plans

March 29, 2011
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At a time when defined benefit or pension plans are growing scarcer, they have become a more potent recruiting and retention tool. Clearly, employees still value the security the retirement plans promise, based on the results of a recent Towers Watson & Co. survey.
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Wage and Hour Lawsuits Top Employer Litigation Concerns

March 14, 2011
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Wage and hour lawsuits are by far the most common type of employment litigation. The number of these lawsuits far outpaces any other form of employment litigation and verdicts and settlements are steadily increasing. What are employers doing to address this situation and to limit their liability?
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DC Auto Enrollment Spikes as Talk Turns to Automatic Increases

March 1, 2011
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A recent survey of 210 employers by consulting firm Aon Hewitt shows that 57 percent automatically enroll new workers into defined contribution plans. However, less than half automatically raise participants’ contributions.
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