(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
July 13th, 2018

Finding the Best Course

When and how to claim Social Security may be, in a very real sense, the largest single point-in-time financial decision over most individuals’ lifetimes. Despite this, Baby Boomers retiring today are not doing enough to smartly coordinate the claiming of Social Security with defined contribution (DC) retirement plan withdrawals, warns William Meyer, founder and managing principal of Social Security Solutions. Read more >

We’d Like to Profile a Plan Sponsor

In an article last November, we covered the idea of so-called “side-car” accounts—workers who do not yet have emergency savings will be directed to first fund a short-term savings account reserved for emergencies, before funding their retirement account. If you are a plan sponsor who offers such an account to employees or if you know a plan sponsor that offers one, and would be willing to speak to us about it, please send an email to rebecca.moore@strategic-i.com. Read more >

Senators Reintroduce Bill to Address Missing Participants

The bill establishes steps retirement plan sponsors can take to avoid violations of required minimum distribution (RMD) and Employee Retirement Income Savings Act (ERISA) rules, among other things. Read more >
ASK THE EXPERTS
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


Church Plan Operating Under Rules of ERISA Has Not Elected to Be an ERISA Plan

Since the Supreme Court decision about the definition of church plan under the Employee Retirement Income Security Act, the Internal Revenue Service has issued several private letter rulings concerning entities’ church plan status, including an organization with a 403(b) plan. Read more >

Simpler Retirement Plan Communications Make No Difference in Employee Decisions

However, a study concludes that financial literacy was positively associated with better choices. Read more >

Hardship Withdrawal Safe Harbor Covers Tuition, But Not Loan Repayments

A timely new Insights publication from the law firm of Drinker, Biddle and Reath looks back at an Internal Revenue Service (IRS) letter sent earlier this year to Representative Scott Perry, R-Pennsylvania, in response to his inquiry about whether individual taxpayers can use a qualified 401(k) plan hardship withdrawal for the purpose of paying down student loan debt. Read more >

Lincoln Introduces Financial Wellness Tool

Goals like paying off student loans, reducing debt and saving for college can be linked to the tool so users can keep track of their progress. Read more >

Break From the Grind: Americans Spend About Five Hours a Day on Leisure Activities

Watching TV was the leisure activity that occupied the most time, accounting for just over half of all leisure time, on average, according to the American Time Use Survey. Read more >

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

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

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