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PLANSPONSOR BLINESs LOGO April 7th, 2020
Information & Insights for the 403(b) Community
Plan Sponsors Should Be Extra Vigilant During Severe Market Volatility
Plan Sponsors Should Be Extra Vigilant During Severe Market Volatility
For both DB and DC plan sponsors, fiduciary actions follow a different time frame when there is a sustained market crisis.
Principal the Latest Provider to Waive Retirement Plan Transaction Fees
It is also waiving plan sponsors’ fees for certain retirement plan amendments and halting rate increases for group benefits.
Ask the Experts
Partial FICA Tax for Governmental 457(b) Plan Contributions
“I read in a past Ask the Experts column that employer contributions are subject to FICA, except if the employee is not subject to FICA taxes in general, as is the case for certain state and local government employees that are members of a retirement system. Our state and local governmental employees are not subject to Social Security; however, they are eligible for Medicare, and pay Medicare taxes. Would employer contributions to the 457(b) be subject to Medicare taxes?”
ERISA Lawsuit Activity Continues Despite Court Lockdowns
Plan sponsors should continue to pay attention to litigation and consider what litigation may arise.
Furloughs Vs. Layoffs: Which May Trigger a Partial Plan Termination?
‘Companies tend to use the terms interchangeably, which is why it can be confusing,’ says Lorie Maring, a partner at Fisher Phillips.
Empower Waives Fees for Retirement Plan Loans and Hardship Withdrawals
The change is for all tax-qualified workplace retirement plans administered by Empower that permit such distributions and includes new provisions allowed for under the CARES Act.
Employers Can Offer More Student Loan Repayment Help to Employees
The CARES Act allows employers to contribute toward employees’ student loan debt tax-free to employees, and employees need guidance on what they can and should do about deferring payments.
Administrative Considerations for CARES Act Transactions
Plan sponsors need to understand the details and ask themselves certain questions to make sure they are complying with the new law.
Voya to Credit Transaction Fees Related to CARES Act
In addition, the retirement plan provider is offering free access to financial resources to Americans.
Important Considerations Before Waiving RMDs
Taking required minimum distributions (RMDs) is about shifting to a taxable account, not necessarily about liquidating investments.
Supreme Court Denies Review of UPenn ERISA Lawsuit
A last ditch effort to point out that another circuit found no evidence of fiduciary misconduct in a similar case apparently did not persuade the high court it needed to resolve a circuit split.
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