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Sallus Retirement Selects Ubiquity Retirement + Savings® for Administration and Recordkeeping of its Pooled Employer Plan

Retrieved on: 
Tuesday, August 3, 2021

BERWYN, Pa., Aug. 3, 2021 /PRNewswire/ --Sallus Retirement, LLC, (Sallus Retirement) an independent professional fiduciary and retirement Pooled Plan Provider (PPP), announces that it has selected Ubiquity Retirement + Savings (Ubiquity) to perform plan administration and recordkeeping for its pooled employer 401(k) plan designed for small business owners and the financial advisors that serve them.

Key Points: 
  • BERWYN, Pa., Aug. 3, 2021 /PRNewswire/ --Sallus Retirement, LLC, (Sallus Retirement) an independent professional fiduciary and retirement Pooled Plan Provider (PPP), announces that it has selected Ubiquity Retirement + Savings (Ubiquity) to perform plan administration and recordkeeping for its pooled employer 401(k) plan designed for small business owners and the financial advisors that serve them.
  • Sallus Retirement, built to serve the 60 million American workers who today are without a workplace retirement plan, is one of the first fully independent Pooled Employment Plan (PEP) solutions in the market.
  • Sallus Retirement has selected Ubiquity, primarily for its fully digital and highly scalable, cloud-based administrative platform and its experienced team.
  • We are very excited to pair with Sallus Retirement to significantly expand retirement savings coverage for Americans working in small businesses."

Envestnet Selected as Investment Manager for Sallus Retirement's Pooled Employer Plan

Retrieved on: 
Thursday, July 22, 2021

CHICAGO, July 22, 2021 /PRNewswire/ -- Envestnet Retirement Solutions, a subsidiary of Envestnet, Inc. (NYSE: ENV), announces that it has been chosen by Sallus Retirement LLC (Sallus Retirement) to serve as investment manager for the Sallus Retirement's pooled employer 401(k) plan for small business owners and the financial advisors that service them.

Key Points: 
  • CHICAGO, July 22, 2021 /PRNewswire/ -- Envestnet Retirement Solutions, a subsidiary of Envestnet, Inc. (NYSE: ENV), announces that it has been chosen by Sallus Retirement LLC (Sallus Retirement) to serve as investment manager for the Sallus Retirement's pooled employer 401(k) plan for small business owners and the financial advisors that service them.
  • Sallus Retirement, built in response to the 60 million American workers who today are without a workplace retirement plan, is one of the first fully independent and bespoke pooled plan provider solutions in the market.
  • Envestnet will leverage its retirement plan experience in asset allocation, portfolio construction, and manager research to manage the fund portfolios in Sallus Retirement's PEP 401(k) plan.
  • "We continue to expand the asset management and fiduciary capabilities available through the Envestnet financial wellness ecosystem," said Dana D'Auria, CFA, Co-Chief Investment Officer of Envestnet.

MissionSquare Research Institute Announces Expansion of Public Plans Database

Retrieved on: 
Thursday, July 1, 2021

Washington, D.C., July 01, 2021 (GLOBE NEWSWIRE) -- The Public Plans Database ( PPD ) has been expanded to include data from nearly 50 public sector defined contribution (DC) retirement plans.

Key Points: 
  • Washington, D.C., July 01, 2021 (GLOBE NEWSWIRE) -- The Public Plans Database ( PPD ) has been expanded to include data from nearly 50 public sector defined contribution (DC) retirement plans.
  • It includes 401(a), 457, 401(k), and cash balance plans, along with mandatory, optional, supplemental, and primary DC plans.
  • This database also contains detailed information on the largest state and local defined benefit (DB) pension plans in the U.S.
  • Adding defined contribution data is a strategic expansion of the PPD, said Joshua Franzel , Ph.D., Managing Director at MissionSquare Research Institute.

Miller Shah LLP Announces Proposed Class Action Settlement on Behalf of Former Participants in the Novitex Enterprise Solutions Retirement Savings Plan

Retrieved on: 
Friday, June 25, 2021

TO: ALL FORMER PARTICIPANTS IN THE NOVITEX ENTERPRISE SOLUTIONS RETIREMENT SAVINGS PLAN, (THE "NOVITEX PLAN") WHO WERE PARTICIPANTS IN THE PLAN BETWEEN JANUARY 1, 2014 AND DECEMBER 31, 2018 (THE "SETTLEMENT CLASS PERIOD").

Key Points: 
  • TO: ALL FORMER PARTICIPANTS IN THE NOVITEX ENTERPRISE SOLUTIONS RETIREMENT SAVINGS PLAN, (THE "NOVITEX PLAN") WHO WERE PARTICIPANTS IN THE PLAN BETWEEN JANUARY 1, 2014 AND DECEMBER 31, 2018 (THE "SETTLEMENT CLASS PERIOD").
  • This Settlement will provide for a payment of $750,000, less any Court-approved fees and expenses, and administrative costs, to the Exela 401(k) Plan ("Exela Plan"), the successor-in-interest to the Novitex Enterprise Solutions Retirement Savings Plan (the "Novitex Plan"), which money will then be allocated to the accounts of former participants of the Novitex Plan who had accounts in the Novitex Plan during the Settlement Class Period.
  • You do not need to send in a claim or take any other action to participate in the Settlement.
  • Your share (if any) of the Settlement Fund will depend upon the amount and value of your Novitex Plan account(s) during the Settlement Class Period.

Capitalize and Bankrate Partner to Help Users Find and Roll Over Legacy 401(k) Accounts to Better Save for Retirement

Retrieved on: 
Thursday, June 24, 2021

Were thrilled to offer Bankrate users direct access to Capitalizes 401(k) rollover platform for free -- and to partner with a team that shares our commitment to helping Americans effectively save for retirement.

Key Points: 
  • Were thrilled to offer Bankrate users direct access to Capitalizes 401(k) rollover platform for free -- and to partner with a team that shares our commitment to helping Americans effectively save for retirement.
  • By making it easy to find and roll over legacy accounts like 401(k)s, Capitalize helps individuals make the most of their retirement savings.
  • Capitalize manages the entire 401(k) rollover process for users through an online alternative to the manual, paper-based process of transferring retirement accounts.
  • Over time, Capitalize intends to help users manage all of their employer-sponsored and individual retirement accounts as they move throughout their career.

Cogent Syndicated: Plan Sponsors’ Use of Financial Wellness Offerings Reaches Historical High

Retrieved on: 
Wednesday, June 23, 2021

Once financial wellness programs are established, the study reveals that nearly half (45%) of DC plans measure the overall success of these offerings based on 401(k) enrollment rates.

Key Points: 
  • Once financial wellness programs are established, the study reveals that nearly half (45%) of DC plans measure the overall success of these offerings based on 401(k) enrollment rates.
  • Employee surveys and direct feedback serve as secondary evaluation criteria of program success, cited by one-third of plan sponsors (34%).
  • 401(k) hardship withdrawals also serve as an important barometer among SmallMid and LargeMega plans, coinciding with the desire of these plan sponsors to retain assets in-plan.
  • Cogent Syndicated, a division of Escalent, conducted an online survey of a representative cross section of 1,453 401(k) plan sponsors from February 17 to March 24, 2021.

Over Eight in 10 Employers with a Traditional 401(k) Plan Provide Matching Funds, Finds XpertHR's 2021 Survey on Employee Benefits

Retrieved on: 
Friday, June 18, 2021

NEW PROVIDENCE, N.J., June 18, 2021 /PRNewswire/ -- While employers often provide matching contributions to their traditional 401(k) plan, they typically delay fully vesting their employees in those matching funds, according to XpertHR's 2021 Employee Benefits Survey of 452 US employers.

Key Points: 
  • NEW PROVIDENCE, N.J., June 18, 2021 /PRNewswire/ -- While employers often provide matching contributions to their traditional 401(k) plan, they typically delay fully vesting their employees in those matching funds, according to XpertHR's 2021 Employee Benefits Survey of 452 US employers.
  • Among the 271 surveyed employers that offer a traditional 401(k) plan, 82% match at least some portion of employee contributions to the plan, compared with 18% that provide no matching funds.
  • And, among the 222 responding companies that do provide matching funds, 28% fully vest their employees in these funds immediately, while most require a waiting period.
  • XpertHR's Employee Benefits Survey 2021 was conducted from March 30, 2021, to April 23, 2021, and published on June 9, 2021.

Unum employees can flip savings into steady retirement income

Retrieved on: 
Thursday, June 17, 2021

CHATTANOOGA, Tenn., June 17, 2021 /PRNewswire/ -- Unum (NYSE: UNM) is offering its employees a new in-plan program to help make their retirement savings last.

Key Points: 
  • CHATTANOOGA, Tenn., June 17, 2021 /PRNewswire/ -- Unum (NYSE: UNM) is offering its employees a new in-plan program to help make their retirement savings last.
  • Carl Gagnon, Unum
    The new program grants employees nearing retirement access to a low-cost, professionally managed fund that adjusts with age.
  • When paired with the managed cash flow withdrawal option, it forms a steady stream of income in retirement.
  • Employees can choose to keep their savings in Unum's 401(k) plan after retirement as an affordable option to managing their savings.

Guideline Raises $200M in Funding Led by General Atlantic to Fuel Growth of Comprehensive Retirement Plan Solutions

Retrieved on: 
Wednesday, June 16, 2021

Guideline , a leading provider of easy, affordable retirement plan solutions for small-and-medium-sized businesses (SMBs), today announced it has raised $200M in new funding led by General Atlantic, a leading global growth equity firm.

Key Points: 
  • Guideline , a leading provider of easy, affordable retirement plan solutions for small-and-medium-sized businesses (SMBs), today announced it has raised $200M in new funding led by General Atlantic, a leading global growth equity firm.
  • Guideline plans to use the funds to further scale its offering of full-service 401(k) plans, as well as introduce new retirement plan solution products.
  • Guideline offers a full suite of support, spanning plan administration and employee onboarding, to compliance testing, government filing and recordkeeping.
  • In addition to its offering of traditional 401(k) plans, Guideline supports self-employed individuals through Simplified Employee Pension Plan (SEP) IRAs.

Voya Financial becomes first to receive new DALBAR ESG Retirement Plan Certification and earn 5-star rating for its 401(k) plans

Retrieved on: 
Thursday, June 10, 2021

Voya received the certification, along with a five-star rating, for the 401(k) plans offered to its own employees.

Key Points: 
  • Voya received the certification, along with a five-star rating, for the 401(k) plans offered to its own employees.
  • DALBARs ESG Plan Certification is an annual process to evaluate a plans success in actively applying ESG principles to its retirement plan.
  • Receiving the ESG Retirement Plan Certification can benefit both employers and employees themselves, including attracting new talent to a company that offers a plan with a commitment to serving the community.
  • Employers interested in pursuing ESG Retirement Plan Certification can learn more at the DALBAR ESG Certification website and should contact their defined contribution plans recordkeeper to find out how they can work with DALBAR to begin the certification process.