Remembering the Virtues of 401k Savings
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In This Issue
General Items Remembering the Virtues of 401k Savings Summary: As we start a new year, let's take a minute to remember why a 401k program is such a powerful tool to help overcome challenging markets and accumulate wealth for retirement. Here are the top 10 reasons to participate in an employer's 401k plan. Source: 401khelpcenter.com Higher Interest Rates Will Impact 401ks in 2016 Summary: For 401k plan sponsors and participants, rising rates will bring advantages and some disadvantages, at least in the near term. Source: Shrm.org
403(b) Plans 2016 403(b) Plan Compliance Calendar Summary: Here is a 403(b) Plan Compliance Calendar for 2016, listing many compliance deadline dates for 403(b) plans. Note that some of the deadlines only apply to particular plan types (such as ERISA plans) and are noted accordingly. Also note that plans with non-calendar plan years may be subject to different deadlines for a portion of the dates mentioned. Source: Ntsa-net.org
Fiduciary and Plan Governance Material 401k Service Providers and Cybersecurity: Questions to Ask Summary: 401k plan fiduciaries have an obligation to secure and keep private the personal identifiable information of plan participants and beneficiaries. Part of this essential task is ensuring that plan service providers take cybersecurity preparedness and plan data protection seriously. Here are some questions you should be asking. Source: 401khelpcenter.com Another Year of Steady Investment Menu Reform Summary: Retirement specialist financial advisers face a constant stream of regulatory and market change -- especially regarding defined contribution plan investment menus. From a fundamental rethinking of the role of ESG investing to ongoing money market fund reform, there was no shortage of major shifts for defined contribution plan investment menus in 2015. Source: Planadviser.com
Insight: Studies, Research and White Papers What's Keeping Plan Sponsors Awake at Night? Summary: A new survey finds some notable gaps between the concerns weighing on plan sponsors and those on the minds of non-plan sponsor industry professionals. Source: Napa-net.org
Items of Special Interest to Service Providers How Advisers Can Break Into the 401k Market in 2016 Summary: The 401k market poses plenty of opportunity for advisers. But the retirement-plan market comes chock full of inherent complexities advisers should be familiar with before taking the plunge. Here are a few tips from experienced retirement plan advisers on things to do and consider when starting out. Source: Investmentnews.com (registration may be required) Advisers Conducting More RFPs Than Ever Summary: A new report from Cerulli Associates finds asset managers are receiving more formal requests for proposals than ever before, especially from investment consultants and registered investment advisers hoping to gain tighter control of client portfolios. Source: Planadviser.com
Court and Legal DC Plan Litigation Landscape Still Heating Up Summary: The end of 2015 has seen an expanding range of retirement plan litigation cases, notes ERISA attorney David Levine. From stable value, to proprietary funds, to company stock, to excessive fees, to a mix of all of the above, there are also more plaintiffs law firms filing suits than ever. Source: Planadviser.com
Compliance and Regulatory 2016 401k Retirement Plan Contribution Limits Summary: The IRS published the cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2016. In general, the pension plan limitations will not change for 2016 because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment. Source: 401khelpcenter.com 2016 Retirement Plan Rollover Chart Summary: This is a chart of what the Internal Revenue Service regards as permissible when rolling funds over from one type of retirement account to another. Source: 401khelpcenter.com New Law Expands Allowable Rollovers to SIMPLE Plans Summary: he Consolidated Appropriations Act that became law on December 18 allows a participant in a qualified retirement plan, 403(b) plan or 457 plan to roll over their distribution from that plan to a Savings Incentive Match Plan for Employees (SIMPLE) retirement account, according to various law firms' client alerts. Source: Planadviser.com
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