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April 16th, 2021 Information & Insights for the 403(b) Community Questions Sponsors Need to Ask When Hiring a 3(38) Fiduciary DC plan sponsors should examine a potential investment manager’s approach to governance as well as investing, and they should review past performance results. DOL Releases Its First Cybersecurity Guidance The guidance includes best practices and tips for protecting retirement benefits.  Ask the Experts Email amy.resnick@issgovernance.com with subject line “Ask the Experts.” DOL Issues Guidance for Investors, Plans on Investment Advice Exemption It sets forth questions an investor can ask potential advice providers and information to help them understand the purpose of each question. How HSAs Work Speakers at the virtual PLANSPONSOR 2021 HSA Conference discussed features of health savings accounts (HSAs) and rules regarding them. Selecting an HSA Service Provider Experts say providers should be able to educate participants about how the accounts work and their triple tax benefits. Efforts to Make HSAs More Inclusive How decoupling HSAs from high-deductible health plans (HDHPs) could bring advantages to both the employee and employer. More Employers Are Engaging With Voluntary Benefits Experts say such offerings could help improve employees’ financial wellness and retirement security. Boosting HSA Participation and Engagement Experts say offering company matches and/or seed money, as well as implementing automatic enrollment into the plans, can boost workers’ engagement with HSAs. The Role of HSAs in Financial Wellness and Retirement Plan sponsors can promote the HSA benefit as a part of employees’ financial wellness and liken its importance to other financial planning tools. How to Make Changes That Make a Difference for Your HSA Program A session during the first day of PLANSPONSOR’s 2021 HSA Conference revealed ways employers can enhance their programs’ participation rates.  Did someone forward you this newsletter? Sign up here to get (b)lines directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 400, Rockville, MD 20850