How Retirement Plans Can Fix Contribution Mistakes

Employers sometimes make mistakes when they put money into a 401(k), profit sharing plan or other defined contribution plan. If they correct the mistake by making a contribution to the plan, the contribution is called a QNEC or Qualified Non-Elective Employer Contribution. Here are some examples of a QNEC (pronounced cue-neck). Companies sometimes fail to […]


State-based retirement plans for the private sector

States around the country are looking into ways of providing retirement savings opportunities for individuals who do not have access to an employer retirement plan.  States with a retirement program under consideration or with a program adopted are in bold below. A brief description of the state program is included for each bolded state.   […]


Proposed Rule on Conflicts of Interest in Investment Advice (November 2015)

The Pension Rights Center submitted comments to the Department of Labor (DOL) and testified at a hearing in support of the department’s proposed revision of the definition of “fiduciary.” The proposed definition describes the circumstances under which a financial adviser becomes a fiduciary and must give advice in the best interest of the customer, avoiding […]


Investment Advisers: Who Are They and Why Does It Matter?

The universe of financial advisers can be very confusing. People who give financial advice use many different labels, including investment adviser investment manager asset manager broker financial planner financial consultant financial adviser certified financial planner With such a variety of titles, it can be difficult to know which legal standards – if any – apply […]


Polling Data on America’s Retirement Crisis

The Retirement Crisis is a Top Concern for Americans A wide range of polls shows that the retirement crisis is all too real.  Americans are experiencing the crisis firsthand, yet policymakers and opinion leaders are paying scant attention to the problem. Below are the results from recent polls that show the depth of national anxiety […]


Electronic Disclosure by Employee Benefit Plans (June 6, 2011)

The U.S. Department of Labor issued a Request for Information regarding electronic disclosure by employee benefit plans. Read the Center’s comments.


Definition of the Term ‘‘Fiduciary’’ (February 3, 2011)

The Department of Labor has proposed a regulation expanding the definition of the term “fiduciary”. These regulations define when someone giving investment advice to participants in a 401(k) (or to the people running the plan) must act only in the interests of the participants in the plan, and not in their own self-interest. Read the […]


Proposed Regulations on Target Date Funds (January 14, 2011)

The Department of Labor has proposed regulations on “target date” funds.  If adopted, the proposed regulations would require 401(k) plans to give employees more information about a type of mutual fund that changes the percentage of stocks and bonds held in the fund as people grow older. The proposed regulations will enable sophisticated participants to […]


Final 401(k) Fee Disclosure Regulations

On October 20, 2010, the Department of Labor issued final regulations that require private retirement savings plans, such as 401(k)s, to tell employees how much they are being charged in record-keeping, investment management and other fees. The regulations also include rules for disclosing information about the plan’s investment options. These rules apply only to plans where […]


Companies That Have Changed or Temporarily Suspended Their 401(k) Matching Contributions

Below is a list of employers that have announced plans to reduce or suspend matching contributions to their employees’ 401(k) and other defined contribution plan accounts since June 2008. For details on each company’s decision, click the employer’s name to see the company’s press release or news story announcing the change. Learn why the employer […]