Infographic: Top Re-Enrollment Misperceptions
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Newsletter Sponsor Are All $5,000,000 401(k) Plans Created Equal? Just Published! The 401k Averages Book has released a new Special Report taking a closer look at two 401(k) Fee Benchmarks. The report compares two plans with the same assets with different average account balances. Click here for your copy of the report. In This Issue
General Items Infographic: Top Re-Enrollment Misperceptions Abstract: Re-enrollment may help put participants on the path to better retirement outcomes, but some common misperceptions could be preventing plan sponsors from leveraging this strategy. This infographic explores the top four re-enrollment misperceptions. Source: Jpmorgan.com Fiduciary and Plan Governance Material Everything You Wanted to Know About BICE but Were Afraid to Ask Abstract: The best-interest contract exemption (BICE) is part of a large regulatory package with quickly approaching deadlines for compliance. BICE rules are important to plan sponsors and something they need to start considering in their interactions with plan vendors. This 8-page article is designed to heighten awareness to assist plan sponsors in fulfilling their fiduciary duties. Source: Ifebp.org Adding Sustainable and Responsible Investing Options to DC Plans Abstract: This 12-page step-by-step guide assists plan sponsors considering the addition of a sustainable, responsible and impact investing option to a defined contribution retirement plan. Source: Ussif.org »» Click here for more Fiduciary and Plan Governance Material Insight: Studies, Research, and White Papers Report Finds Participant Account Balance Size Influences 401k Plan Fees Abstract: According to a new report published by the authors of 401k Averages Book, the size of a 401k plan's average participant account balance will influence the amount of fees they pay. Source: 401khelpcenter.com Debt Regret Fuels Financial Stress, Finds New Retirement Study Abstract: A new survey from Schwab Retirement Plan Services reveals that everyday money matters are dramatically impacting the lives and retirement saving efforts of Americans. The nationwide survey of 1,000 workers with access to a 401k plan -- half of whom are actively contributing to it and half of whom are not -- reveals that non-savers are increasingly challenged by day-to-day financial stresses, compounded especially by credit card debt. Source: Aboutschwab.com ETFs Are Hot Everywhere but Workplace Retirement Plans Abstract: Of the $5 trillion in assets in company-sponsored 401k plans, two-thirds are held in mutual funds, the ICI says. ETF assets, meanwhile, are a mere fraction of the pool left over, with the exact percentage not tracked publicly. So why are so few ETFs offered in workplace retirement plans? Source: Reuters.com »» Click here for More Studies, Research, and White Papers Items of Special Interest to Service Providers 401k World Is About to Change - Are You Ready? Abstract: As a result of technology and new laws, the small and mid-size 401k and 403b market is about to go through even more dramatic changes than after the 2006 Pension Protection Act which spawned the growth of auto enrollment, auto escalation and target date funds. Source: 401ktv.com
Target-Date Funds The Case for Custom Target-Date Funds Abstract: The increase in the use of custom TDFs by defined contribution plans has been significant. This 4-page paper explains why plan fiduciaries should consider custom TDFs when selecting the investment options for a 401k plan. Source: Ipbtax.com »» Click here for more on Target-Date Funds Court and Other Legal Issues Seventh Circuit Upholds ERISA Plan's Forum Selection Clause Abstract: In a mandamus petition involving an issue of first impression, the US Court of Appeals for the Seventh Circuit held that ERISA's venue provision did not invalidate a forum selection clause in an ERISA-governed health plan. Source: Westlaw.com Tibble's Trials Near the End With a Win Abstract: Nearly a decade to the day that Glenn Tibble, William Bauer, William Izral, Henry Runowiecki, Frederik Sohadolc, and Hugh Tinman, Jr. filed their excessive fee class action known as Tibble v. Edison, they may be nearing the conclusion of a case that has gone all the way to the United States Supreme Court and back. Source: Napa-net.org »» Click here for more Court and Other Legal Issues DOL's Fiduciary Rule Deloitte White Paper on the DOL Fiduciary Rule: Response and Impact Abstract: The Securities Industry and Financial Markets Association engaged Deloitte to facilitate a study with 21 SIFMA member firms to understand and analyze the realized and potential impacts of the DOL's Fiduciary Rule on retirement investors and financial institutions. Report is 29-pages. Source: Sifma.org Anticipating Delay to Fiduciary Rule, BDs, and RIAs Change Course Abstract: Broker-dealers and registered investment advisers are pivoting in the wake of news that the DOL is likely to get a lengthy delay in the implementation date of its fiduciary rule. While strategies and mechanisms put in place thus far will largely remain intact, according to analysts and executives, firms are gearing up to halt ones that had been deferred or haven't yet materialized. Source: Investmentnews.com (registration may be required) »» Click here for more on the DOL's Fiduciary Rule Compliance and Regulatory Key Rules for Non-Spouse Beneficiaries Abstract: This is a high-level overview of some of the rules that beneficiaries must follow to help preserve the tax-deferred status of inherited retirement account, and avoid penalties. Source: Retirementdictionary.com Mitigate Qualified Domestic Relations Order Risk With Best PracticesAbstract: While QDRO administration can be problematic and time intensive, ERISA and the Internal Revenue Code clearly outline the obligations of a plan administrator regarding QDROs for qualified retirement plans. These obligations must be met by all plan sponsors. Source: Findleydavies.com Many DC Plan Sponsors Must Annually "Notice" Their Participants Abstract: Sponsors of DC plans with certain features are required to provide annual notices to participants. This chart summarizes the annual notice requirements for each of these notices, including timing, recipients, contents, and methods of delivery. Some plan designs may require multiple notices and some of the notices may be combined or packaged together in one mailing. Source: Prudential.com Are You Overlooking Required RMD Beginning Dates? Abstract: Required minimum distributions are a small but important part of retirement plans. Failure to start making them on time can lead to problems for employers and plan participants. If you're a plan administrator, you hold the responsibility of ensuring the first RMD is made in time to fulfill this requirement. Source: Penchecks.com »» Click here for more Compliance and Regulatory Material Marketplace News DOL Extends Nominations Period for 2018 ERISA Advisory Council Principal Launches New Retirement Modeling Planner »» Click here for More Marketplace News
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