The Educated Fiduciary: How to Up Your Game
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Fiduciary and Plan Governance Material The Educated Fiduciary: How to Up Your Game Abstract: For those fiduciaries self-aware enough to know there are things they need to learn, here are some suggestions for ways they can raise the bar in fulfilling their fiduciary responsibilities. Source: Cohenbuckmann.com A Simple Guide for Meeting 401k Fiduciary Responsibilities Abstract: It doesn't need to be difficult for employers meet their 401k fiduciary responsibilities and avoid liability. They just need to understand these responsibilities and take action in six key areas. Source: Employeefiduciary.com Making Sure 401k & 403b Fees Are "Necessary" and "Reasonable" - Part One Abstract: As a plan sponsor, you are required to understand all of the fees that are associated your organization's retirement plan benefit program. This is a challenge because plan fee structures are often opaque, complicated (needlessly so) and, sometimes, downright misleading. Source: Fiduciaryplangovernance.com »» Click here for more Fiduciary and Plan Governance Material General Items Recordkeepers Kick Off the New Year by Enhancing Online Participant Education Abstract: For the past two years there has been an industry-wide focus on employee retirement and financial wellness education, and the first weeks of 2018 indicate this trend will continue. Source: Corporateinsight.com Are HSAs a Better Investment Vehicle Than 401ks? Abstract: When considering the tax advantages, an argument can be made that HSAs are a better investment vehicle, particularly when used only for qualified medical expenses, a new report claims. Source: Asppa.org Insight: Studies, Research, and White Papers Retirement Savers Flee Stocks as Market Slides Abstract: After racing into equities in January, they did an about-face as markets fell. Savers moved into money and fixed-income funds, trading at close to three times the norm, according to Alight Solutions' 401k Index. Source: Investmentnews.com (registration may be required) Retirement Income, Managed Accounts and "Shadow Fiduciaries" Abstract: New Cerulli research shows the most common reason for which 401k plan sponsors offer participants a managed account service is that it can be positioned as a retirement income solution; also considered is the emergence of so-called "shadow fiduciaries." Source: Planadviser.com Average Retirement Savings Balances Reach Six Figures in 2017 Abstract: Fidelity released its quarterly analysis of 401k and individual retirement accounts. The analysis reveals that IRA and 401k accounts continue to hit record levels. Increasing contributions and a strong stock market drove both the average 401k and IRA balances over six figures. The average 401k balance rose to $104,300, 13 percent higher than Q4 2016. Source: Businesswire.com »» Click here for More Studies, Research, and White Papers Court and Legal RadioShack Defeats Challenge to Stock Losses in 401k Plan Abstract: RadioShack executives defeated a lawsuit accusing them of violating federal benefits law by allowing workers to invest in company stock despite knowing of the company's financial decline and impending bankruptcy. Source: Bna.com (registration may be required) »» Click here for more Court and Other Legal Issues Legislative and Washington DC Tax Cut Spurs Employers to Boost 401k Contributions Abstract: Following the Tax Cuts and Jobs Act that passed in December, many plan sponsors are contemplating plan changes as well as revisiting total rewards including wellness programs and benefits packages. Companies are also contemplating whether to issue a one-time bonus, discretionary 401k contribution or increase the plan match. Source: Voya.com »» Click here for more on Legislative Actions Cybersecurity Issues Retirement Plans and Cybersecurity Abstract: Cybersecurity is a topic that is routinely grabbing headlines across industries, and employee benefit plans are not immune to the risks of cybercrime. The best efforts to reduce these risks are multi-faceted approaches to protecting sensitive information, with employers, their plan participants, and their benefit providers all working in tandem to safeguard personal data. Source: Sentinelgroup.com »» Click here for more on Cybersecurity Issues Compliance and Regulatory Tips for Keeping Your Plan in Compliance Abstract: It's important to develop review procedures in order to prevent mistakes in administering your plan. Left uncorrected, mistakes could readily jeopardize your plan's tax-favored status. Source: Qbillc.com 2018 Pension Plan Limitations Not Affected by Tax Cuts and Jobs Act Abstract: The Internal Revenue Service announced that the Tax Cuts and Jobs Act of 2017 does not affect the tax year 2018 dollar limitations for retirement plans announced in IR 2017-177 and detailed in Notice 2017-64. Source: Irs.gov 401k Plan Documents: Keeping All Your Ducks In a Row Abstract: Many 401k tasks either require documents that should be retained or require documentation for future reference. This table lists several important documents that are smart to keep handy, either in the event of an audit, or to reference during the ongoing administration of the 401k. Source: Forusall.com Hardship Withdrawals -- An Attractive Nuisance Becomes More Attractive Abstract: President Trump has signed the Bipartisan Budget Act of 2018 into law, avoiding another federal government shutdown. That law includes provisions that make hardship withdrawals more attractive: removing barriers, increasing available monies, and removing the suspension of contributions. Source: Psca.org »» Click here for more Compliance and Regulatory Material Marketplace News Riskalyze Retirement Solutions Goes Live Captain401 Rebrands, Raises $11 Million to Serve Small Business 401k Market EBRI Announces Appointment of Lori Lucas as President and CEO TRA Continues Geographic Expansion in the Midwest Caruso Joins ARA as Government Affairs Counsel NFP Acquires Capital Benefit Financial Group Financial Engines and ADP Form Strategic Relationship »» Click here for More Marketplace News
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