2018 Defined Contribution Trends
|
Newsletter Sponsor Become a True Retirement Professional With CRC Certification In today's new fiduciary environment, it is more important than ever before for retirement advisors to have the knowledge and skills needed to help American workers adequately prepare for retirement. As one valuable component of your professional development, becoming a Certified Retirement Counselor (CRC) will enhance your understanding of retirement planning concepts and principles, while tangibly demonstrating your expertise and commitment to the retirement planning profession. Click here for information about the CRC® and a 50% discount on study materials for a limited time or call 254-732-7403. In This Issue
Insight: Studies, Research, and White Papers 2018 Defined Contribution Trends Abstract: Callan conducted our 11th annual Defined Contribution Trends Survey in the fall of 2017. The survey incorporates responses from 152 plan sponsors, including both Callan clients and other organizations. This 57-page report highlights key themes and findings from 2017 and expectations for 2018. Source: Callan.com How to Determine if Your Employees Are on a Smooth Path to Retirement Abstract: While some organizations may measure employees' retirement readiness only as they approach retirement age, a more comprehensive strategy is to utilize a retirement-readiness analysis (described in this article) to track their employees throughout their careers to help ensure they are financially on target to retire when they want. Source: Sibson.com »» Click here for More Studies, Research, and White Papers General Items Retirement Plan Sponsor Websites Abstract: When looking at plan sponsor websites, there are often many issues that plan sponsors would likely wish to correct. Have you checked your own retirement plan website lately? Here are three of the most frequent issues. Source: Cammackretirement.com Retirement Plan Education: It's Time to Get Personal Abstract: While the industry is consistently innovating on participant education and communication -- moving to mobile platforms, creating easier-to-digest video content, and bringing financial wellness to the fore -- we have gotten caught in a rather habitual, one-dimensional way of helping participants understand why and how to save for the future. Source: 401ktv.com Fiduciary and Plan Governance Material A Plan Sponsor's Guide to Selecting Retirement Plan Providers Abstract: When it comes to evaluating plan providers to consider, it's hard to develop a metric that would gauge whether a provider should be hired or not. This article help evaluate how to select plan providers from every Tom, Dick, Harry, and Jane that wants you to select them to be your plan provider. Source: Jdsupra.com The Plan Committee: The Life Phases of a Committee Meeting Abstract: When considering committee meetings, it's a mistake to think only about the time spent in the meeting itself. In fact, this time is by far the least important part of a committee meeting. In fact, meetings start well before the meeting itself and end well after it. Source: Fiduciaryplangovernance.com Abstract: One of the basic requirements of ERISA is that all fiduciaries and other persons who handle plan funds must be bonded to protect the plan against losses due to their fraud and dishonesty. The bond is not the same as fiduciary liability insurance. There are special requirements that apply to ERISA bonds and they can only be purchased from approved companies, so even if you have a bond, it might not be compliant. Source: Cohenbuckmann.com »» Click here for more Fiduciary and Plan Governance Material Items of Special Interest to Service Providers Tax Cuts and Jobs Act Will Present Retirement Professionals With New Challenges Abstract: While the primary focus of the Act is on the personal and corporate income tax rates, and the law does not uproot pension and benefits arrangements as radically as past legislation, the new rules will present employers, employees, and tax and benefits professionals with potentially difficult decisions in the areas of retirement planning, employee benefits management, executive compensation, and payroll administration. Source: Wolterskluwer.com Target-Date Funds Abstract: The proliferation of target-date fund varieties can confuse many plan sponsors. One survey found that while nearly two-thirds of plan sponsors consider investment performance the most important selection criterion when choosing a TDF for their participants, more than half are not confident that they have a solid basis for benchmarking the TDFs against other similar funds in the marketplace. Source: Orbablog.com »» Click here for more on Target-Date Funds Court and Legal Are Forum Selection Clauses in ERISA Plan Documents Enforceable? Abstract: The United States Supreme Court allowed a Seventh Circuit decision to remain in effect that determined that a forum choice provision in an ERISA plan is enforceable, despite ERISA's statement that suits "may be brought" in courts tied to the plan or plan beneficiary. Source: Boomerisablog.com Lawsuits Push 401k Plan Sponsors to Cut Fees Abstract: Employers are moving to reduce their 401k plan costs in greater numbers, largely in an attempt to avoid the fate of peers who've been sued for allegedly excessive fees in their defined-contribution plans, new research suggests. Source: Investmentnews.com (registration may be required) »» Click here for more Court and Other Legal Issues Legislative and Washington DC Tax Reform Impacts Retirement Benefits Abstract: Certain provisions included in H.R. 1 impact retirement plans. Retirement-related provisions included in the Act apply to taxable years beginning after December 31, 2017. Plan sponsors should review the information contained in this publication and the Act to understand the new provisions and potential impacts to their plans. Source: Prudential.com Tax Reform: Retirement Plan and IRA Provisions Abstract: This summary of the tax bill focuses on the rather limited changes made to pension benefits and IRAs. The changes, and next steps for plan sponsors and IRA providers, are summarized. Source: Groom.com »» Click here for more on Legislative Actions Fiduciary Rule The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Abstract: This Q&A addresses issues raised in the DOL's recent release which provides for an 18-month Extension of Transition Period and Delay of Applicability Dates for the Best Interest Contract Exemption; the Class Exemption for Principal Transactions; and PTE 84-24. In particular, it focuses on the issues the DOL raised regarding the status of "enforcement" procedures during the transition period. Source: Jdsupra.com SEC Reportedly Accelerating Work on Its Own Fiduciary Rule Abstract: Implementation of the DOL's fiduciary rule has been delayed, and the rule may not have the teeth it originally did. But it would be a mistake to assume that means a complete demise for a new fiduciary standard for advisors. That depends in part on what the Securities and Exchange Commission does with its own fiduciary rule, work that reportedly is accelerating. Source: Asppa.org »» Click here for more on the DOL's Fiduciary Rule Compliance and Regulatory New Rules Pertaining to Puerto Rico Qualified Retirement Plans Abstract: Recent changes to Puerto Rico's tax treatment of certain retirement plans have taken effect. Employee benefit practitioners, service providers, as well as the Pension Plan Section at the Puerto Rico Department of the Treasury were taken by surprise by these amendments. Source: Littler.com »» Click here for more Compliance and Regulatory Material Marketplace News Fi360 Expands Fiduciary Essentials Training Program PSCA's 71st Annual National Conference Scheduled for May 1-2 Blaine Aikin Takes Expanded CEFEX Role »» 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 © 2018 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
|
