Plan Participants
Putnam Investments, LLC has officially asked the nation’s highest court to weigh in on an issue on which district courts have split 6-4: Who bears the burden of proof when alleging losses due to a fiduciary breach?
Indeed, the issue seems ripe for consideration. As Putnam states in its petition to...
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The 30th Anniversary NTSA Summit is fast approaching! And the NTSA is pleased to announce that the summit, which will be held Jan. 27-29, 2019 in Tampa, will include a presentation by Dr. John Evans on the Art of WOW.
Evans, who is Executive Director of Knowledge LabsTM Professional Development...
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In Tech Talk, Susan Diehl tells whether there a sample election form for an executive who participates in a 457(b) plan and who would like to defer distribution until a later date.
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The start of a new year is an opportune moment to take stock of the way things are done and consider new approaches. A benefits-related organization offers some ideas of things to consider regarding designing and providing a workplace financial education program.
The International Foundation of...
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Plan sponsors continue to add design features to increase participation and savings rates, such as the availability of Roth contributions, says a recent study.
According to the 61st Annual Survey of Profit Sharing and 401(k) Plans from the Plan Sponsor Council of America (PSCA), part of the...
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It isn’t hard to find a plan that has invested in target date funds (TDFs). But it can be hard to find assessments that ask hard questions about them. MarketBeat discusses a recent white paper that fills that void and asks whether TDFs are the panacea some may think.
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ERISA requires a variety of disclosures to plan participants. This installment of ERISA Tips focuses on disclosures of investment-related information.
In “The Fiduciary Duty of Participant Disclosures,” a paper by Thorp Reed & Armstrong, Kevin A. Wiggins notes that plan administrators are...
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With only about two weeks left in the legislative calendar, the House of Representatives is expected to approve a revised tax and retirement savings package as early as today. But can the legislation be enacted in its current form?
House Ways and Means Committee Chairman Kevin Brady (R-TX)...
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The ERISA Advisory Council has recommended that the Department of Labor (DOL) issue new guidance on ERISA bonding. The recommendation comes in a report to Secretary of Labor Alexander Acosta that includes the council’s evaluation of the DOL’s regulations and guidance on ERISA bonding requirements...
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MarketBeat discusses a blog post about best practices in which ERISA attorney Fred Reish explores retirement income projections as a way to better serve plan participants. And he cites the 403(b) market as among those such information can serve.
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Internal culture and environment, and how central it is to training and how well an employer’s workforce functions, was the focus of recent remarks by James McKinney, Chief Operations Officer, Retirement Strategies, Inc. In Marketbeat, John Iekel discusses McKinney's remarks.
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The IRS has announced that it has granted tax relief certain victims of Hurricane Michael in Alabama. The IRS action includes relief from penalties on payroll and excise tax deposits due on or after Oct. 10, 2018, and before Oct. 25, 2018, which it says will be abated as long as the deposits are...
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UPDATED NOV. 8, 2018
As expected, the Democrats took control of the House of Representatives in the congressional midterm elections, portending a major shift in focus for retirement policy issues.
Currently the party affiliation in the House stands at 219 Democrats and 193 Republicans. In the...
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The Department of Labor announced Oct. 29 that it has published employee benefit plan compliance guidance and relief for victims of recent Hurricanes Florence and Michael.
The relief includes easing of enforcement concerning the rules governing plan loans and distributions, as well as relief...
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To comply with ERISA Section 404(c), a plan needs to meet some general requirements; one is that plan participants must be allowed to receive information sufficient for them to make informed decisions.
So says Wells Fargo in “Section 404(c) Compliance: Added Protection Makes it Worth the Effort...
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In order to be in compliance with ERISA Section 404(c), a plan needs to meet two general requirements that involve investment options and participant involvement.
This tip is based on “Section 404(c) Compliance: Added Protection Makes it Worth the Effort,” a Wells Fargo article.
Investment...
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Can retired ministers designate distributions from a qualified plan as housing allowance? If so, from what kind of qualified plan can one do so? In Tech Talk, Susan Diehl tells us.
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Informing plan participants is not a suggestion. And much has been said of the need to make information provided to plan participants more readily understandable. But a specialist in retirement education and employee benefits communication has suggested that something else is in play in...
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Editor’s Note: ERISA Tips is a feature provided with you in mind — to make the newsletter more useful to you! If you have any content for ERISA Tips or the 403(b) Advisor that you would like to contribute or suggest, please contact John Iekel, editor of the 403(b) Advisor, at jiekel@usaretirement....
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Editor’s Note: ERISA Tips is a feature provided with you in mind — to make the newsletter more useful to you! If you have any content for ERISA Tips or the 403(b) Advisor that you would like to contribute or suggest, please contact John Iekel, editor of the 403(b) Advisor, at jiekel@usaretirement....
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