Extensive 2017 Defined Contribution Compliance Calendar
|
Newsletter Sponsor Now is a Good Time to Review Your 401k Plan Fees The 401k Averages Book is the most recognized source for comparative, non-biased 401k average cost information. Use the 401k Averages Book to better understand the investment, recordkeeping, and revenue sharing expenses for all size 401k plans. It is designed to provide professionals with essential fee information to help their clients determine if their plan costs are above or below average. All 401k fee charts and tables are updated for 2016. Click here for more information. In This Issue
Compliance and Regulatory Extensive 2017 Defined Contribution Compliance Calendar Abstract: This is a 17-page calendar of key deadlines for calendar-year plans. Source: Amazonaws.com ARA Files Comment Letter on Form 5500 Improvement Proposals Abstract: The American Retirement Association's Government Affairs Committee on Dec. 1 filed a comment letter with the Department of Labor's Employee Benefits Security Administration on the proposals that the DOL, IRS and Pension Benefit Guaranty Corporation made to modernize and improve the Form 5500. Source: Asppa.org ARA Files Comment Letter on Substantiating Hardship Distributions and Participant Loans Abstract: The American Retirement Association Government Affairs Committee on Dec. 2 filed comments with the IRS providing recommendations on the documentation needed to substantiate a hardship distribution or participant loan. Source: Asppa.org »» Click here for more Compliance and Regulatory Material Fiduciary and Plan Governance Material 3(21), 3(38), or 3(16): Find the Right 401k Fiduciary Services for You Abstract: How much work and liability do you want to take on? How much expertise can you delegate internally? What do you want your team to spend their time on? This article compares the full spectrum of work you can delegate out to an ERISA fiduciary. Source: Forusall.com Informing Plan Participants Is a Plan Sponsor Responsibility Abstract: Plan sponsors and service providers share the burden of keeping plan participants informed concerning their 401k or 403(b) plan, but plan sponsor fiduciaries retain all of the responsibility for failing to do so. Source: 401ktv.com »» Click here for more Fiduciary and Plan Governance Material Insight: Studies, Research and White Papers 2016 Retirement Preparedness Survey Findings Abstract: Key themes of this 8-page include: 1) Saving for retirement is getting progressively harder for each generation. 2) Overwhelmed with investment choices, individuals have little understanding about what they are invested in. 3) Far from reaching savings goals, pre-retirees need a plan, but have inertia. 4) Advisors play an important role in bridging the retirement preparedness gap. Source: Prudential.com Abstract: One of the most common questions received from small business 401k fiduciaries during the plan design process is "what are other people doing?" This article reviews 2,767 plans to help answer that question. Source: Employeefiduciary.com Key Retirement, College, and Health Savings Trends Abstract: Ascensus analyzed data from its 40,000 retirement plans, 3.8 million 529 college savings accounts, and 200,000 HSAs. The following trends were identified within each area. Source: 401khelpcenter.com »» Click here for More Studies, Research and White Papers Target-Date Funds Issues in Target-Date Fund Evaluation and Selection Abstract: The investment community has made significant strides in understanding and evaluating target-date fund strategies over the past decade. Now, however, we have reached a plateau in target-date communication characterized by overly-simplistic dichotomies. This post will break down four key labels commonly used in target-date manager evaluation. Source: Americancenturyblog.com Five Things the DOL Wants You to Know About TDFs That You May Have Overlooked Abstract: Target-date funds continue to expand in usage and popularity, but Nevin Adams believes there are some things the Labor Department wants you to know about TDFs that you may have overlooked. Source: Napa-net.org »» Click here for more on Target-Date Funds Plan Automation The Potential Downside of Automatic Enrollment in 401k Plans Abstract: Automatic enrollment has become a staple of 401k best practices over the past decade, touted to boost important metrics such as plan participation and savings rates among employees. Adoption has more than doubled since 2006, when federal law incentivized employers to use automatic enrollment. Now roughly 52% of all 401k plans use the feature. However, new research suggests the effects of auto enrollment on participants aren't always rosy. Source: Investmentnews.com (registration may be required) »» Click here for more on Automatic 401k Plan Features Court and Other Legal Issues 401k Plan Fee Litigation Update Abstract: The wave of fee litigation is ongoing and has significantly increased the responsibility of 401k plan fiduciaries to follow well documented, prudent processes to monitor 401k plan fees and expenses. This article reviews the litigation trends and then provides some observations and takeaways. Source: Milesstockbridge.com Voya Facing Lawsuit Over Stable Value Funds Abstract: A 403(b) plan participant is claiming that Voya set crediting rates for stable value funds lower than rates of return in order to make a profit. Source: Planadviser.com »» Click here for more Court and Other Legal Issues DOL's Fiduciary Rule Fred Reish: The Presidential Election: Now What? Abstract: One of the consequences of the presidential election is that the future of the fiduciary rule (and the exemptions) is uncertain. What does that mean to advisers...regardless of whether they are representatives of RIAs, broker-dealers, or an independent insurance agents? The answer is that nobody knows. However, this article outlines the most likely alternatives. Source: Fredreish.com Senate Democrats Control Fate of DOL Fiduciary Rule Abstract: Unlike the cumbersome regulatory process required to replace the rule or the vagaries of the courts, a legislative move is the quickest, cleanest route to its demise. But Senate Democrats are likely to hold together well enough to ensure the rule is modified rather than taken off the books. Source: Investmentnews.com (registration may be required) »» Click here for more on the DOL's Fiduciary Rule Marketplace News Pensionmark Expands in Florida With Addition of ECM Group Ascensus Announces Acquisition of National Retirement Services Financial Ed and Tech Firms Combine Forces to Serve 401k Market Betterment for Business Surpasses 300 Plan Sponsors BenefitGuard Expands Integration With Major Payroll Providers Trust Builders Introduces Online Plan Participant Tools Ascensus Launches Enhanced SEP and SIMPLE IRA Program CUNA Names Bill Riccio as Director of TPA Relationship Management »» Click here for More Marketplace News
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. Hyperlinks in this document are provided as a convenience and we disclaim any responsibility for information, services or products found on websites linked hereto. 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 does not endorse, approve, certify, or control this material and does not guarantee or assume responsibility for the accuracy, completeness, efficacy, or timeliness of the material. Use of any information obtained from this material is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by 401khelpcenter.com. 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 © 2016 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
|
