Defined Contribution Retirement Plans Archives

Employer Benefits to Assist with Student Loan Debt

by Jeffrey Holdvogt | Jan 17, 2023 | Employee Benefits

What can employers do to assist workers with student loan debt? According to this PlanSponsor article, some strategies include direct-to-worker payments or an indirect option for student debt repayment benefits. McDermott Partner Jeffrey Holdvogt said a loan consolidation or refinancing option can help workers get a lower interest rate.

“There’s an expectation that many individuals will begin repaying student loans again sometime soon and what should employers be thinking about in terms of student loan benefits [for workers]? There’s a few different buckets of options for employers to provide student loan benefits,” Holdvogt said.

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DOL Creates Path for 401(k) Plans to Offer Private Equity Investment Options

by Todd Solomon and Brian Tiemann | Oct 29, 2020 | Employee Benefits, Fiduciary and Investment Issues

In June, the US Department of Labor issued an information letter indicating that it will allow defined contribution retirement plans (such as 401(k) plans) to indirectly invest in private equity funds. While information letters are not binding, this new guidance creates a significant opportunity for plan sponsors to consider investment options that include private equity funds. However, it will be important for both plan sponsors and funds to carefully evaluate potential investments for compliance with fiduciary requirements.

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Treasury Department and IRS Release Initial Lifetime Income Guidance; Additional Guidance Expected Shortly

by McDermott Will & Emery | Feb 27, 2012 | Retirement Plans

by Joseph S. Adams, Stephen Pavlick and David Diaz

Two years after the Internal Revenue Service (IRS) and U.S. Department of Labor (DOL) jointly issued a high-profile Request for Information regarding how defined contribution plans can better provide lifetime income, the IRS and Department of the Treasury have issued some initial guidance. DOL guidance, expected to further underscore the importance of the issue, is anticipated “in the near future.”

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