Executive Managment of 401(k) Plans Increasing


Senior executives are getting hands-on when it comes to their company’s employee benefit plans.

In a recent survey of 125 employers by Cowden Associates, a Pittsburgh-based consulting and actuarial firm, 94% of respondents indicated their senior executives are involved in the investment decision-making process regarding employee 401(k) plans, up from 30% in 2007.

While improvements are being made in defined-contribution plan management, problem areas still exist. One-quarter of survey respondents reported not having an investment policy statement, which provides general investment goals and objectives of a retirement plan.

Source: Tri-State Defined Contribution Plan Sponsor Survey, Cowden Associates Inc., www.cowdenassociates.com.

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.