(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
May 25th, 2018

EDITOR'S NOTE

There will be no (b)lines Tuesday, May 29. (b)lines will return to your inbox Friday, June 1.

University of Chicago Settles 403(b) Plans Excessive Fee Suit

Without admitting any wrongdoing, the University of Chicago has agreed to a $6,500,000 settlement of an Employee Retirement Income Security Act (ERISA) excessive fee case. According to the settlement agreement, which has already been preliminarily approved by the judge, but is awaiting final approval, the university has agreed to structural changes to its 403(b) plans. It has already implemented a new investment lineup for them. 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


Fed Report Offers Picture of Retirement Readiness Situation in America

Over two-fifths of non-retirees think their retirement savings is not on track, and having taken a loan or distribution, as well as discomfort with investing, lowers retirement confidence. Read more >

Surviving Financially to Age 85 Increases Retirement Confidence

Seventy-eight percent of retirees ages 85 and older say they are at least somewhat secure in their finances, with 33% reporting they are very secure, according to a Society of Actuaries (SOA) survey. By comparison, the SOA’s ninth biennial Risks and Process of Retirement Survey identified an overall increase in the level of concern for finances among respondents ages 40 to 80. A significant number of retirees and pre-retirees reported in that survey that they feel unprepared to navigate financial shocks and unexpected expenses. The new survey suggests that if retirees are able to survive financially to age 85, concerns about finances drop significantly. Read more >

Other Financial Issues Impacting Retirement Confidence and Savings

While employees are grappling with things like higher health care costs, financially supporting other family members and debt, a study from PwC finds they are not always taking the right steps to manage these issues and to invest and save for retirement adequately. Read more >

DOL Fiduciary Responsibilities Seminar Coming to Chicago in July

The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan. Read more >

Asian Americans More Thoughtful Retirement Investors Than Other Demographics

However, a MassMutual study finds this group can use more education about other retirement planning issues. Read more >

dailyVest’s Plan Health Tool Gets an Update

Projected retirement income can now be viewed at both the plan and participant level. Read more >

Break From the Grind: Low Performing Workers Take a Toll on Managers and Staff

An employee who can’t keep up with work demands takes a heavier toll on a business than some may think, new research suggests. Read more >

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

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

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