(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
August 31st, 2018

Charles Schwab, Chamber of Commerce Ask Court to Reconsider Arbitration in USC Case

For its part, Schwab says the appellate court’s decision in the case against the University of Southern California, which effectively invalidates agreements to arbitrate Employee Retirement Income Security Act (ERISA) Section 502(a)(2) claims, conflicts with U.S. Supreme Court and Circuit precedent interpreting the Federal Arbitration Act (FAA) and ERISA. Read more >

ERIC Asks IRS for Revenue Ruling on Student Loan Repayment Benefit

The Internal Revenue Service (IRS) recently issued a private letter ruling approving a student loan repayment benefit within a retirement plan; the ERISA Industry Committee (ERIC) wants this expanded to apply to all plan sponsors. Read more >
ASK THE EXPERTS
Groom Law Group and Cammack Retirement Group will field your questions concerning 403(b) plans and regulations. Email rebecca.moore@strategic-i.com with Subject Ask the Experts

Participants Need to Understand Market Cycles

The record bull market may cause retirement plan participants to be overly confident, but they need to understand market cycles and volatility so they can resist making the wrong investment and retirement savings decisions. This could mean urging them to invest in a professionally managed target-date fund (TDF), a target-risk fund or managed account, as well as showing them projections for long-term savings if they are tempted to dip into their accounts during market highs. Read more >

OneAmerica Participant Survey Highlights Pervasive Student Debt Challenges

Results of the latest OneAmerica client plan participant survey show student debt is a widespread challenge facing U.S. workers as they contemplate retirement savings. Nearly four in 10 workers indicate they are paying toward a student loan for themselves or on behalf of someone else. “Of those, an astounding 85% of respondents paying toward student loans reported that their obligation to repay the funds are impacting their ability to prepare for retirement,” warns Marsha Whitehead, OneAmerica vice president of enterprise marketing. The OneAmerica survey examines other topics relating to participant financial wellness, including health care expenses and the use of health savings accounts as short- and long-term savings vehicles. Read more >

SOA Proposes New Public Pension Mortality Tables

The Society of Actuaries (SOA) said it developed the new tables once it was determined that public pensions have differing levels of mortality than private pensions. It is soliciting comments on its proposal. Read more >

Break From the Grind: Employers Recount Applicants’ Resume and Social Media Blunders

Two surveys from CareerBuilder caution job applicants to be careful about what they include on their resumes and what they post on Social Media. Employers shared what they are looking for on resumes or social media sites and what resume and social media actions can lead—or have led—them not to hire an applicant. Read more >

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

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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