(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
April 3rd, 2018

Study Shows Growth of DC Plans as Retirement Income Source

Individual account (IA) retirement plans are the dominant source of financial assets for retirement income among current and future retirees—and they continue to grow, according to the Employee Benefit Research Institute (EBRI). EBRI’s analysis of Survey of Consumer Finances (SCF) data finds that in 2016, IA assets constituted 67.9% of financial assets at the median among families owning IA assets. The percentage of IA plan assets in DC plans from a current employer amounted to 40.9% in 2016. “Any policy that alters this system could have consequences–either positive or negative–for Americans’ ability to fund a comfortable retirement,” says Craig Copeland, with EBRI.Read more >

NYU Asks to Exclude Certain Evidence from Trial in 403(b) Plans Case

The university also asks that the plaintiffs not be able to attempt to use evidence that their prudent measures and conduct that occurred subsequent to the plaintiffs’ filing of the lawsuit proves that prior conduct was imprudent.Read more >
What or Who is a ‘Named Fiduciary’?
“Recently the recordkeeper who is taking over administration of our Employee Retirement Income Security Act (ERISA) 403(b) plan from a prior recordkeeper asked for the identity of  the plan’s “named fiduciary.” Though I am well familiar with who the plan’s fiduciaries are, I am unfamiliar with the term “named fiduciary.” Can the Experts clarify?”Read more >

In the Beginning

“I remember it all too well,” says Charles Ruffel, fondly. More familiarly known as Charlie, our publication’s founder laughs and says, “We saw a niche that obviously mattered but was starved of information, so we started a magazine and called it PLANSPONSOR. A lot of people hardly knew what a plan sponsor was—it was more a technical term then—but we liked the focus.” Ruffel discusses what led to the magazine’s creation.Read more >

Voya Hires VP for Tax Exempt Market Business

Voya Retirement has recently hired Tony Agentowicz as the vice president of Institutional Clients for the company’s Tax Exempt Market business.Read more >

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

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