Retirement Crisis: Real, or Hype?
|
Newsletter Sponsor
In This Issue
General Items Retirement Crisis: Real, or Hype? Summary: Have we got a crisis, or merely a series of hard problems? That question, posed by American Enterprise Institute Resident Fellow Alex Pollock at a July 15 discussion at AEI's Washington, DC offices, captured the ultimate issue the expert panel addressed. Source: Asppa.org How to Take Advantage of 401k Catch-Up Contributions Summary: There's a special tax perk for retirement savers over 50, but most people can't afford to use it. Still, the tax benefit of taking advantage of catch-up contributions can be huge. Source: Usnews.com
403(b) Plans Nondiscrimination Testing Required for 403(b)s Summary: Top-heavy testing under Code Section 416, as well as minimum participation testing under 401(a)(26) and average deferral percentage testing under section 401(k), are not required for 403(b) plans, but the degree to which other nondiscrimination testing is required will vary by the type of sponsoring entity. Source: Plansponsor.com Three Ways 403(b) Sponsors Can Streamline Their Plan Summary: In 2009, new regulations started making 403(b)s look like the 401k market by requiring a written plan document for the first time. This regulation is a great foundation, but author sees three ways to further enhance 403(b) plans. Source: Bcigroup.com
Fiduciary and Plan Governance Material Summary: Many retirement plan sponsors are under-informed about their ongoing fiduciary duty when making decisions regarding their 401k plan. This is a list of items to consider when outsourcing plan oversight responsibilities. Source: Shrm.org Investment Review Checklist for 401k Plan Committees Summary: This Checklist provides a list of issues that an investment or administrative committee of a 401k plan governed by the Employee Retirement Income Security Act of 1974 (ERISA) should consider, including those raised by the US Supreme Court's recent decision in Tibble v. Edison Int'l. Source: Practicallaw.com Customize DC Investments for Participant Success Summary: Most participants in defined contribution plans are not on track to achieve retirement income adequacy. A key reason is that the investment lineups in most DC plans are structured in a way that reduces participants' likelihood of implementing well-diversified and age-appropriate investment strategies. Since they are not investment experts, most DC participants would benefit from a simplified lineup. Source: Aon.com The Hidden Risks of Employee Benefit Plan Audits Summary: An employee benefit plan that has over 100 participants is required to have an audit to accompany the filing of its Form 5500. Failure to make sure that an employee benefit plan audit is done properly may spawn personal liability for a plan sponsor's officers -- including the CFO. Source: Cfo.com
Items of Special Interest to Service Providers NAPA National DC Recordkeepers List Updated Summary: The mid-year update of NAPA Net's list of recordkeepers is complete. While the number of recordkeeper deals this year has been relatively low, the deals have been significant. Review the list and commentary in this article. Source: Napa-net.org DOL Official Promises Changes to Fiduciary Rule Summary: A Labor Department official said the agency's proposal to raise investment-advice standards for brokers working with retirement accounts would be modified in response to criticism. Source: Investmentnews.com (registration may be required)
Compliance and Regulatory DOL Provides Key ERISA Guidance on QLAC/DC Lifetime Income Summary: The DOL just published its "first serious guidance" on the selection and monitoring of lifetime income annuity providers and contracts with the publication of FAB 2015-2, guidance "which is very necessary for the success of the Qualified Longevity Annuity Contracts." Source: Businessofbenefits.com Puerto Rico: Important Updates and Upcoming Deadlines Concerning Employee Benefits Summary: This article discusses important updates related to Puerto Rican plans, including upcoming deadlines, with respect to employee benefits impacting plan sponsors. Source: Littler.com SEC to Focus on Retirement Accounts Summary: The U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations announced a multi-year Retirement-Targeted Industry Reviews and Examinations Initiative. Source: Vedderprice.com Summary: It's a well-known fact that ERISA established specific reporting and disclosure obligations for qualified retirement plans. Less well known but equally important is the fact that ERISA also spells out how long a plan sponsor must retain plan documents and records that support those obligations. Source: Mhco.com Money Market Reform: An Update for DC Plans Summary: Last year, the SEC approved amendments to Rule 2a-7 of the Investment Company Act of 1940 which governs U.S. money market funds. Plan sponsors should revisit the objectives and risk tolerance for their money market vehicles, especially those invested in prime money market funds which are most affected by the new amendments. This article provides an update on this topic. Source: Rocaton.com
Marketplace News Securian Adds Large Plan Experts to Institutional Group Envestnet Introduces ERS Fund Strategist Network ABG Adds 'The Retirement Plan Company' to Network NAPA Announces Top Retirement Plan Advisors Under 40 Pentegra Retirement Services Introduces SmartPath Lockton Opens Philadelphia Retirement Practice Fiduciary Investment Advisors Expands Consulting Team Callan Adds to Fund Sponsor Consulting Team Lockton Expands Retirement Services Practice TCW Partners With Gargoyle on Alternative Fund Heestand Company Expands Ownership Group
This eNewsletter is a digest of information published by a variety of web-based sources on 401k and related issues and is published as a service to our users. 401khelpcenter.com, LLC is not the author of the material unless specifically noted. Articles are copyrighted to their publishers. If you believe that your work has been copied in a way that constitutes copyright infringement, please contact the source site immediately. All links were tested before this eNewsletter was e-mailed to you to ensure that they are still functional, but publishers do move or delete articles. Therefore, we can't guarantee that the links provided will remain operational. 401khelpcenter.com, LLC does not endorse and disclaims any and all responsibility or liability for the accuracy, content, completeness, legality, or reliability of the material linked to in this newsletter. Reliance on this material should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Opinions expressed are those of the author of the article and do not necessarily reflect the positions of 401khelpcenter.com. THIS NEWSLETTER IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE INVESTMENT, TAX, ACCOUNTING OR LEGAL ADVICE. Copyright © 2015 by 401khelpcenter.com, LLC. All rights reserved. No reproductions without prior authorization, but you are free to email this copy (in its entirety) along to colleagues or clients. This newsletter may not be posted to any website. 401khelpcenter.com, LLC
|
