Just as a builder begins with a blueprint, plan design is an integral part of building a successful plan. The type of plan you choose may have a dramatic impact on the benefits received, and how they are perceived by your employees.
Plan design is the process of choosing the type of plan—and the array of options—that will meet the needs of your company and its employees. To do so, you need to know the ages and types of employees you are seeking to benefit, the financial and resource boundaries of your company, and the options that are available to you.
Making changes to an existing plan can be an expensive and time-consuming proposition. Furthermore, once granted, some benefits cannot simply be "taken away" or modified at a whim.
The plan document that creates the plan and outlines its conditions is a contract—and should be viewed accordingly. Contracts, of course, can be modified. But frequently the consent of both parties is required—and almost always the services of an attorney.
September 01, 2010
WaMu to Settle Stock Drop Suits for $49M
WaMu to Settle Stock Drop Suits for $49M
September 1, 2010 (PLANSPONSOR.com) - A federal court has given preliminary approval of a settlement that would resolve lawsuits alleging breaches of fiduciary duties under the Employee Retirement Income Security Act by Washington Mutual.
Rebecca Moore
editors@pla
August 31, 2010
MassMutual Participants Hang Tight in Q2
MassMutual Participants Hang Tight in Q2
August 31, 2010 (PLANSPONSOR.com) - MassMutual's Retirement Services Division has released data for the second quarter, but didn’t find much sign of movement, despite the tumultuous markets.
Nevin E. Adams
editors@plansponsor.com
The Sprin
August 31, 2010
Coca-Cola Employees Sue over Dropped Benefits during Strike
Coca-Cola Employees Sue over Dropped Benefits during Strike
August 31, 2010 (PLANSPONSOR.com) – A group of employees for the Coca-Cola Bottling Company of Washington have filed a lawsuit alleging the company unlawfully terminated their health plan benefits while they were on strike.
Rebecca Moore
editors
August 31, 2010
Ford Settles Company Stock Suit with Advice
Ford Settles Company Stock Suit with Advice
August 31, 2010 (PLANSPONSOR.com) - Ford Motor Co. will provide free financial advice to more than 150,000 retirees and employees as part of an agreement to settle a lawsuit claiming the company should not have offered company stock as an investment in its retirement