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August 15th, 2023 Information & Insights for the 403(b) Community Hardship Withdrawals Rose 36% Year-Over-Year in Q2 Bank of America participant analysis shows more employees prioritizing short-term expenses over long-term saving. Let Your Advisers Know! The 2023 PLANADVISER National Conference is where retirement plan advisers can cultivate the skills and increase the knowledge needed in today’s retirement plan industry. They’ll learn the latest about behavioral psychology and why participants behave the way they do; get up-to-date insights on complying with The SECURE 2.0 Act; find out how to protect plan sponsors from the latest litigation and regulatory threats; and more. Ask your adviser today if they’ll be attending PANC to learn how better to serve you and your participants. Ask the Experts How Is Compensation Defined When Considering SECURE 2.0 Catch-Up Rules? I understand that, thanks to the SECURE 2.0 Act, anyone earning more than $145,000 who wishes to make catch-up contributions will be forced to elect Roth for such contributions, beginning in 2024. What is the definition of compensation for this purpose? Is it wages as reported in Box 5 of Form W-2? NYC Pensions Seek Dismissal of ESG Lawsuit Attorneys for the funds argue in their motion that the complaint is ‘wasting the court’s time.’ DOL Opens Public Comment on SECURE 2.0 Provisions EBSA will take feedback for 60 days on defined contribution reporting requirements, PEPs and emergency savings accounts. 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 300, Rockville, MD 20850