(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
August 30th, 2016

Bills, Low Income and Debt Hinder Retirement Savings

Americans are trying to save despite having many other competing financial interests, according to a survey by the Certified Financial Planner Board of Standards, Inc. (CFP Board). Nearly half (48%) of respondents say they “don’t always have enough money left over to save after bills.” More than one-third (35%) have seen a significant decrease in household income, and 34% say debt prevents them from saving.Read more >

Retirement Planning Apps Important to Millennials and Boomers

Sixty-six percent of both Boomers and Millennials say that mobile apps and tools are either important or very important to manage and track the value of their retirement savings, a study finds. Fifty-nine percent of Millennials and 54% of Boomers place a high value on tools to help them monitor when they can expect to retire and how much retirement income their savings will generate.Read more >
The Center for Retirement Research at Boston College looked at the retirement preparedness of households in various socioeconomic groups and found that those in the lowest quartile are more likely to be unprepared for retirement at any given age. However, all socioeconomic groups in each of the four quartiles have a retirement gap.Read more >

IRS Eases Rollover Deadline Enforcement

In the presence of “a variety of mitigating circumstances,” taxpayers can now qualify for a waiver of the 60-day time limit generally placed on tax-free plan-to-plan or individual retirement account rollovers.Read more >

Strategic Retirement Partners Adds New Adviser

Strategic Retirement Partners has hired Kelly Majdan as its newest adviser. She is tasked with servicing clients and expanding business in the Arkansas and Southern Missouri market.Read more >

What Is a Tiered Investment Lineup?

“The recordkeeper for our Employee Retirement Income Security Act (ERISA) 403(b) plan recommended that we switch to a tiered approach for our investment lineup. However, I could not understand the recordkeeper’s explanation of what precisely a “tiered” investment lineup is. I tried to research the answer myself, but found that it appears to be defined differently in different retirement plans. Can the Experts shed some light on what constitutes a “tiered” investment lineup?”Read more >

David Levine and David Powell, with Groom Law Group, and Michael A. Webb, vice president, Retirement Plan Services, Cammack Retirement Group, will field your questions concerning 403(b) plans and regulations. Send them to rmoore@assetinternational.com with Subject: Ask the Experts. Answers may be printed in future (b)lines. This feature is to provide general information only, does not constitute legal advice, and cannot be used or substituted for legal or tax advice.

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

Advertising: advertise@strategic-i.com

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