A disconnect exists between defined contribution plan sponsors’ intentions and actions when it comes to helping employees with financial wellness, according to a new survey by J.P. Morgan Asset Management. Among more than 800 U.S. DC plan sponsors, 74 per cent said they have a very or somewhat high commitment to employees’ fiscal health, although […]
When trying to engage pension members in retirement planning, some words are better than others. Rob Kochel, vice-president at Invesco Ltd., advised employers at Benefits Canada’s 2019 Benefits and Pension Summit to do away with the financial industry jargon they use to explain retirement concepts to their plan members. “It’s not what you say, it’s what people […]
Health Solutions by Shoppers Drug Mart is launching a health coaching program for plan sponsors to include in their benefits plans. Aimed at employees with chronic diseases, particularly diabetes, heart disease and obesity, the coaching program will connect plan members with nurses, pharmacists or dietitians through phone or video chat. These specialists will help create […]
While user experience is a major focus in the technology world, it’s time to start looking at retirement from the end-user experience as well, said Mike Tuira, vice-president of defined contribution at Invesco Canada Ltd., during Benefits Canada’s 2019 DC Plan Summit in Banff, Alta. in February. The four elements leading to retirement success are […]
As the retirement savings environment evolves, the pension industry must be aware of the changes to move with them, said Zaheed Jiwani, principal at Eckler Ltd., in a session wrapping up the key learnings from Benefits Canada’s 2019 DC Plan Summit in Banff, Alta. in February. These changes include shifting demographics, new offerings and consolidation […]
The Shareholder Association for Research and Education is joining the College of Applied Arts and Technology’s new DBPlus pension plan. “As a small, non-profit organization, it’s difficult for us to access the kinds of plans that have traditionally been available to larger organizations,” says Kevin Thomas, executive director of the SHARE. “So, like other non-profits, […]
While the pension industry is interested in environmental, social and governance factors, that isn’t translating into action when it comes to incorporating ESG funds into defined contribution plans’ investment options, according to a new report by Cerulli Associates. The report found, ESG-oriented investment options aren’t becoming too popular in the U.S. for three key reasons: fee […]
Since just about half of private sector workplaces in the U.S. offer some type of retirement plan, many employees in dual income houses could be failing to account for enough savings for both themselves and their spouses, according to new research by Boston College’s Center for Retirement Research. As a result, the employee with a workplace retirement […]
The single-employer defined benefit model doesn’t work for the university sector for one clear reason, says Cynthia Messenger, president of the University of Toronto’s Faculty Association. “The model is flawed in one crucial way,” she says. “When the plan accrues debt, the university administration must repay that debt to the pension plan. And the only […]
There are major differences between what defined contribution plan sponsors are trying to communicate to members and what members hear, according to a new study by Invesco. “We believe a disconnect remains between what plan sponsors say and what participants hear,” said John Galateria, managing director and head of North America institutionals at Invesco, in a press […]