The cryptocurrency-friendly administration of President-elect Donald Trump and an expanding lobbying effort in statehouses could push states to become more open to crypto and lead public pension funds and treasuries to buy into it. Many bitcoin enthusiasts and investors are quick to say government-backed currencies are prone to devaluation and increased government buy-ins will stabilize […]
An article on the impact of U.S. President-elect Donald Trump’s tariff threats and Prime Minister Justin Trudeau’s resignation on financial markets was the most-read story on BenefitsCanada.com this past week. Here are the top five human resources, benefits, pension and investment stories of the last week: 1. Financial markets resilient in wake of Trump tariffs threat, […]
Amazon.com is facing a lawsuit that claims the company violated U.S. federal law by using nearly US$350 million in forfeited 401(k) funds to offset the company’s own contributions rather than to reduce administrative fees for plan participants, according to a report by Reuters. In December, Cory Curtis, an employee of the online retail company, filed a […]
With 15 different client organizations, including nine public sector pension plans, the Alberta Investment Management Corp. has opted to engage, rather than divest, from certain investments, particularly those in the energy sector. “One of the things we were very clear on, both for ourselves and in talking to clients, is that divestment wasn’t the way […]
Strong growth for stocks on Wall Street this year have helped juice gains for savers with retirement accounts. The average 401(k) plan balance stood at US$127,100 at the end of the second quarter, an increase of 13 per cent from the same period last year, according to data from Fidelity Investments drawn from 24 million […]
While lawsuits against Canadian capital accumulation plans are virtually non-existent, U.S. pension litigation holds several lessons for plan sponsors that are based north of the 49th Parallel. “We don’t have these lawsuits occurring [in Canada], but it does help us educate our [plan sponsor] clients in terms of what trends may be because whatever happens […]
Dollar cap match formulas could distribute employer contributions to 401(k)s more equitably than other common match formulas, according to a new report by Vanguard Inc. The report analyzed more than 1,300 large employer-sponsored plans that are record-kept by Vanguard between 2013 and 2022. It found among two-thirds of plans, employer contributions exacerbate pay inequity and […]
An article on the federal government’s financial sanctions against the Canada Life Assurance Co. following delayed benefits access for public employees was the most-read article on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week: 1. Canada Life facing gov’t financial sanctions following delayed benefits access for public […]
Features such as automatic enrolment in 401(k) savings plans are helping U.S. employees become retirement ready, said Mark Iwry, a non-resident senior fellow at the Brookings Institution and a former senior advisor to the U.S. Secretary of the Treasury for national retirement and health policy, during a session at Benefits Canada’s 2024 Defined Contribution Plan […]
More than 40 years after Ted Benna conceived of what’s now known as the modern defined contribution pension plan structure, the so-called ‘father of the 401(k)’ is still trying to create a retirement savings plan that’s accessible for employees at all income levels. While working at Johnson Cos. in September 1979, Benna found a way […]