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December 1st, 2020 Information & Insights for the 403(b) Community Effect of the Biden Administration on Health and Retirement Benefits Health and retirement benefit plan sponsors will likely see efforts to reduce health costs for Americans and a rolling back of current administration efforts, especially on ESG investing. The Basics of Terminating a DC Plan From updating the plan with statutory amendments to filing the final Form 5500, there are many details to attend to when terminating a defined contribution plan. Ask the Experts Deadline to Amend Plan for CARES Act Loan Provision “Our 403(b) plan did not allow for loans until the Coronavirus Aid, Relief and Economic Security (CARES) Act was passed and we decided to allow employees to take advantage of the CARES Act loan expansion by allowing loans under that provision. I thought that we had to amend our plan by the end of the 2022 plan year (12/31/2022 in our case), but our recordkeeper insists that we must amend the plan by the end of this year. Is our recordkeeper correct?” Judge Certifies Sizable Class in Lawsuit Over TIAA’s Retirement Plan Loan Program The lawsuit alleges TIAA kept some of the interest participants paid on loans from their retirement plans, which it says ‘is the epitome of self-dealing.’ 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 400, Rockville, MD 20850