Report Advocates for Consistent 401(k) / 403(b) Contributions In The Range of 10% to 16% of Pay Over a 30-Year or 40-Year Career

East Granby, CT – May 11, 2012. The Retirement Advisor Council published a Position Paper on the concept of Retirement Readiness and what it means for the 401(k) and 403(b) plans industry.   The Position Paper concludes that for many, target income replacement ratios should be higher than the 70-75% conventionally accepted as a rule of thumb. The higher ratio is to account for the projected cost of healthcare in retirement, and traditional financial planning concerns such as personal health, children education needs, and the cost of caring for elderly relatives. Regardless of target income ratio, the six panelists call for consistent contribution levels in the range of 10% to 16% of pay over a 30-year or 40-year career.

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Study of 401(k) Plans and 403(b) Plans Demonstrates Benefits of Partnering with a Professional Retirement Plan Advisor

East Granby, CT – January 13, 2012. The Retirement Advisor Council reports findings of a fundamental research study demonstrating impactful benefits of partnering with a Professional Retirement Plan Advisor for 401(k) and 403(b) plan sponsors.  This study is the first of its kind; never before has anyone collected data quantifying the benefits of plan sponsors partnering with a Professional.

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DC Plan Investment Council Elects Board Members Black, Davis, Gannon, O’Shaughnessy, and Rieck

East Granby, CT – August 1, 2011. On July 18, 2011, the DC Plan Investment Council elected its first Executive Board.   Two rounds of voting led to the election of Timothy J. Black, AIF® (Senior Vice President, Mosse and Mosse Associates), Jim O’Shaughnessy, AIF®, PRP™ (Managing Partner, Sheridan Road Financial), Patrick J. Rieck, CRPS®, QPFC, QPA,QKA, AIF® (Executive Director, National Retirement Distribution Manager, Morgan Stanley Smith Barney), Stephen Davis (Head of Mid Market Sales, ING), and Matthew D. Gannon (Director, Defined Contribution Investment Solutions, MFS Investment Management).

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DC Plan Investment Council asks the Department of Labor to review rules and regulations that limit participants’ ability to turn to their plan advisor for advice at the time of retirement

East Granby, CT – March 15, 2011. The DC Plan Investment Council submitted to the Department of Labor a Position on Rollovers from Plan Assets urging the Department to review rules and regulations that limits participant access to advice when they need the help most. The Council is advocating for an exemption from prohibited transaction status for the provision of advice to participants by the advisor(s) to the plan at the time of a distributable event.

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