Best Practices for Your OCIO Search

Best Practices for Your OCIO Search

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For generations, successful endowments, foundations, and non-profits used in-house chief investment officers (CIOs) to direct their investment programs. But in today’s market, this approach has become challenged by the complexity of available asset solutions and limitations of resources. The Outsourced Chief Investment Officer (“OCIO”) model has become a way of life to many endowments and foundations globally, and many boards have found that outsourcing the CIO role provides them with far more flexibility and a higher level of skill at a lower cost. We have outlined the best practices for conducting an OCIO search.

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The Basics of Retirement Plan Hardship Distributions and Recent IRS Changes

The Basics of Retirement Plan Hardship Distributions and Recent IRS Changes

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Retirement plans can offer a few options regarding early access to saved funds. Under many employer-sponsored retirement accounts, plan participants may have been offered two early distribution options. One was under a hardship qualification and the other, if allowed, was a loan against the amounts they had vested in the plan. It’s important to understand what hardship distributions and loans are and how the funds may be used.

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Five Ways to Increase Millennial Participation

Five Ways to Increase Retirement Plan Participation Among Millennials

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Millennials — loosely defined as those born between 1981 and 1996 — are quickly becoming the largest generation, slated to surpass Baby Boomers later this year. But unlike Boomers, many of whom are exiting the workforce with the proverbial three-legged retirement stool at their disposal (i.e. defined benefit plan, defined contribution and personal savings, and Social Security), the majority of Millennials haven’t saved a penny for retirement and likely do not have a pension plan, which makes it critical for plan sponsors to make efforts to increase millennial participation.

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Roth 401(k)s Are an Essential Employee Benefit

Roth 401(k)s Are an Essential Employee Benefit

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Employee retirement readiness is at the forefront of plan sponsor concerns. As a result, many plan sponsors are adding the option for Roth 401(k) contributions of their plan. Roth 401(k)s were first introduced in 2006, and while the adoption rate by employers was initially slow, it has since skyrocketed. As many as 70% of 401(k) plans now offer Roth 401(k) options, alongside the traditional 401(k). While the Roth 401(k) option is not for everyone, plan sponsors should consider providing this option to give employees additional retirement savings options. Having this feature as part of the employee benefits package will make your 401(k) plan more attractive and will allow your organization to remain competitive to attract and retain top talent. We have outlined important points to keep in mind if you’re considering adding a Roth 401(k) option to your plan.

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Addressing Conflicts of Interest

Addressing Conflicts of Interest

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In today’s ever-changing regulatory environment, there is increasing pressure on retirement plan sponsors (from the DOL) and their plan advisors (from the SEC) to address conflicts of interest. The ultimate goal of the new guidelines is to protect your retirement plan participants. More specifically, the DOL and SEC want your employees to receive unbiased advice and to be protected from paying unreasonable fees.

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