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December 14th, 2021 Information & Insights for the 403(b) Community DOL Urged to Withdraw Proposal on ESG Investments in Retirement Plans A group of senators and the ASA issued letters saying the newly proposed rule weakens protections for retirement plan investors and retirement plan sponsors. Plan Progress Webinar: Measuring the Success of Your DC Plan Join PLANSPONSOR and industry sources this Thursday for a discussion about metrics plan sponsors should use to gauge the success of their DC plans; ways to measure participant outcomes, or retirement readiness; and information available to help plan sponsors measure DC plan success. Ask the Experts Can Forfeitures Be Used for a One-Time Discretionary Contribution? “We are a private tax-exempt university that suspended its 403(b) discretionary contribution during the pandemic. We have since resumed the contribution, and as things are looking a bit better this year from a financial perspective, we wanted to make an additional one-time discretionary contribution to the plan to make up for some of the contributions our employees missed out on. Also, due to the pandemic, we have a larger amount of forfeitures than usual. Can we use these forfeitures to fund some of this additional one-time contribution?” Senators Ask IRS to Examine Policies on Survivors’ Pension Benefits They say current regulatory guidance has led to members of the LGBTQIA+ community being denied survivor benefits after losing their life partner.  Plan Sponsors Are Getting No Answers From Excessive Fee Lawsuits Excessive fee lawsuit activity has ramped up with no major decisions by the courts; however, a pending decision by the U.S. Supreme Court in one case could impact the amount of activity going forward. Transamerica Hit With Lawsuit Over Data Breach A retirement plan participant says that, since the data breach, his personal information has been used to make fraudulent purchases and spam calls. 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