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November 16th, 2018

Study Finds Link Between Lower Participation and Fewer Choices in K-12 403(b) Plans

A decrease in investment choice and reduced access to advisers leads to lower retirement plan participation by employees in public education 403(b) plans, according to research published by the National Tax-Deferred Savings Association (NTSA). The research, based on data from nearly 4,500 school districts across the United States, found 25% greater participation in plans with 15 or more investment providers compared to plans with only one provider, and there is a 203% increase in average contribution rates among plans providing access to 15 or more providers compared to plans with only one provider. Read more >
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Groom Law Group and Cammack Retirement Group will field your questions concerning 403(b) plans and regulations. Email rebecca.moore@strategic-i.com with Subject Ask the Experts


DOL Clarifies Fiduciary Roles in Auto-Portability Solution

The agency says plan sponsors have fiduciary responsibility for selecting and monitoring Retirement Clearinghouse’s Auto-Portability Solution, but once assets have been transferred from a plan sponsor’s retirement plan, it is no longer a fiduciary with respect to those assets. Read more >

Having a ‘Planning Mindset’ Associated With Positive Retirement Outcomes

Wells Fargo uncovered four specific participant characteristics that correlate with a significantly better financial life. Read more >

Boost in Balances Giving Retirement Savers False Sense of Security About Retiring Early

MassMutual urges pre-retirees to calculate their projected income and expenses in retirement because although retirement plan balances are healthier than they were five years ago, they may not necessarily be sufficient to support the income needed for so many early retirements. Read more >

Analysis Shows Impact of Financial Wellness Programs on Retirement Readiness

When workers are continuously engaged in a financial wellness program, they increase their retirement contribution rates by 38%, and the average age at which workers could retire and replace 80% of their income moves from 68.5 to 66.96, according to Financial Finesse. Read more >

Institutional Investors Set Principles for Firearms Industry

They are focused on reducing risk, which Connecticut State Treasurer Denise L. Nappier says is a priority for institutional investors who have a fiduciary obligation to invest pension assets prudently and to monitor and manage risks. Read more >

Retirement Plan ERISA Litigation Trends Still Heating Up

It has only been about a year and a half since large U.S. universities became the target of Employee Retirement Income Security Act (ERISA) lawsuits, making for a fresh crop of claims and defense strategies that matter for all types of defined contribution (DC) plans. Read more >

Vanguard Partners on Offering HSAs to DC Plans

For Vanguard participants who elect to save in a HealthEquity health savings account (HSA), Vanguard’s Retirement Readiness Tool technology will integrate their HSA information with their defined contribution (DC) plan balance and other assets to give them a comprehensive view of their current and future retirement savings. Read more >

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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