SVB – A Year After the Bank’s Collapse

Photo Credit: Alexey Yarkin Short-sighted, Vulnerable, Broke Nearly a year ago, Silicon Valley Bank failed. On March 8, 2023, SVB announced a $1.75 billion capital raising effort, offering its common stock and depository shares. As the announcement moved through media outlets, the message heard was this: SVB is short on capital and it may not…

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The Power of the PENsion: Labor Day and the Pension Plan

Pension Plans may be declining in numbers, but for millions of workers they are an essential retirement benefit with a history that is tied to Labor Day. Although summer may end officially on September 21, for most Americans, the season ends with Labor Day. The first Labor Day was celebrated in 1882. Far from marking…

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The Power of the PENsion

Private sector pension plans originated as early as 1875. By 1950, in our post-war manufacturing economy, more than 25% of the private sector workforce had a pension (or defined benefit) plan, offering employer-funded benefits with guaranteed payment (in lump-sum or in payment streams) at retirement. The advent of defined contribution plans like 401(k) plans, with…

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RFPs: Reframing For Productivity

Unlocking the Power of Unconventional Thinking in Your Next RFP. Most pension plan sponsors engage in a “request for proposal” (RFP) process on a periodic schedule to fulfill their fiduciary obligations. Importantly, the RFP process helps to gauge the value of provider services to the plan and the reasonableness of those associated fees. Very likely,…

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Am I a Plan Fiduciary? What Does That Mean?

If your job responsibilities include involvement with an employee benefit plan, you may be a fiduciary, and so might be others who help manage the plan or its assets. Given that, it is important to know what a fiduciary is, who is deemed to be a fiduciary, and what their responsibilities are under ERISA. The…

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