401(k) Specialist Issue 1 - 2021 - 15
401(k) FIDUCIARY FILE
Are PEPs 'Instrumental' in Closing
the 401(k) Coverage Gap?
PUBLIC POLICY ADVOCATES and market practitioners believe
Pooled Employer Plans (PEP) could be instrumental to helping
close the retirement plan " coverage gap " by enabling small business
owners to achieve costs savings through economies of scale and
offload some of the administrative burdens associated with offering
a stand-alone retirement plan.
For providers, PEPs may represent an opportunity to achieve a
stronger presence in the small plan market, according to a Cerulli
report, U.S. Retirement Markets 2020: Exploring Opportunities in the
Small Plan Market.
It finds one-quarter (26%) of 401(k) plan sponsors indicate they
are at least somewhat interested in joining a PEP. Although many
industry stakeholders, including the Department of Labor (DOL),
suggest PEPs are well suited for smaller entities, plan sponsors with
less than $5 million in assets exhibit less interest than plan sponsors
in other asset segments-and more than one-third (36%) of plan
sponsors in this " micro " segment indicate they have no opinion on
the topic.
No Improvement in Pension Funding
Despite Record Stock Market
THE FUNDED STATUS of the nation's largest corporate pension
plans started and finished 2020 at the same level. Declining interest
rates caused pension obligations to grow, offsetting gains from investments
in equities and bonds, according to an analysis by Willis
Towers Watson.
The company examined pension plan data for 366 Fortune 1000
companies that sponsor defined benefit pension plans.
Results indicate that the aggregate pension funded status is
estimated to be 87% at the end of 2020, unchanged from 87% at the
end of 2019.
The analysis also found the pension deficit is projected to be
$233 billion at the end of 2020, slightly higher than the $230 billion
deficit at the end of 2019. Pension obligations increased
5% from $1.75 trillion in 2019 to an estimated $1.83
trillion in 2020.
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401(k) Specialist Issue 1 - 2021
Table of Contents for the Digital Edition of 401(k) Specialist Issue 1 - 2021
Table of Contents
401(k) Specialist Issue 1 - 2021 - Cover1
401(k) Specialist Issue 1 - 2021 - Table of Contents
401(k) Specialist Issue 1 - 2021 - 1
401(k) Specialist Issue 1 - 2021 - 2
401(k) Specialist Issue 1 - 2021 - 3
401(k) Specialist Issue 1 - 2021 - 4
401(k) Specialist Issue 1 - 2021 - 5
401(k) Specialist Issue 1 - 2021 - 6
401(k) Specialist Issue 1 - 2021 - 7
401(k) Specialist Issue 1 - 2021 - 8
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401(k) Specialist Issue 1 - 2021 - 45
401(k) Specialist Issue 1 - 2021 - 46
401(k) Specialist Issue 1 - 2021 - Cover3
401(k) Specialist Issue 1 - 2021 - Cover4
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