Nordstrom Inc. is ramping up its hiring efforts this holiday season by offering new employees up to $650 in incentive pay. As the busy holiday shopping season kicks off, the retailer, which operates 13 stores across Canada, is hiring seasonal and regular workers at its Nordstrom and Nordstrom Rack stores. In addition to a hiring bonus, hourly and overnight store […]
Governance-related resolutions are receiving more overall votes from defined contribution pension plan members, but environmental issues are more engaging on a vote-per-measure basis, according to a new survey by two U.K.-based organizations. The study, by asset management firm Legal and General Investment Management Ltd. and fintech company Tumelo, found measures related to all levels of […]
As a new decade revs up, is it time for capital accumulation plan sponsors to revisit the investment vehicles they offer? According to a recent whitepaper from Sun Life Global Investments, the aggregate capital in defined contribution plans in their largest markets — Australia, Canada, Japan, the Netherlands, Switzerland, the U.K. and the U.S. — […]
Much debate remains about whether private equity is an appropriate option for members of capital accumulation plans. Canada’s neighbours to the south have been examining the potential legal pitfalls of these allocations. A recent information letter from the U.S. department of labor set forth a framework plan sponsors can use to consider the prudence of […]
The Canada Revenue Agency is waiving the minimum one per cent employer contribution requirement for defined contribution pension plans for the rest of 2020. To take advantage of the contribution relief, employers must amend their DC plans to suspend accruals for the year, meaning no employer or employee contributions can be made. Further, DC plan […]
With the federal government easing the withdrawal requirements for registered retirement income funds in a bid to alleviate the harm to retirees’ portfolios caused by the coronavirus-spurred market crash, the industry is suggesting similar measures for other retirement arrangements. “Canadians who are about to turn money into income will be faced with the decision of […]
In a recent expert column, I broke down the different components of fees for defined contribution plans. And now, I will explore the key fee drivers and strategies to help plan sponsors manage fee levels in DC plans. Managing these costs are imperative, as excessive fees may result in the significant impairment of DC member […]
While target-date funds are intended to be used as a singular option in capital accumulation plans, many defined contribution plan members use them in conjunction with other investments, according to research from Morningstar. The report noted there are potentially more than 10 million DC participants in both TDFs and other plan investments. “While combining target-date […]