(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
December 30th, 2014

What to Look for in a Rollover Provider

Ongoing fiduciary responsibility and spending money on former employees are two reasons to consider amending a plan to include automated rollovers, Millennium Trust says.Read more >

IRS Provides More Clarity on New Rollover Rule

The IRS has provided answers to questions received about the new single-distribution rule for rollovers from retirement plans.Read more >

Bill Aims to Encourage Retirement Plan Offerings

A U.S. Congressman has introduced a bill to encourage small businesses to offer retirement plans for employees.Read more >

USRP Acquires Pennsylvania 403(b) Provider

U.S. Retirement Partners (USRP) reported that it has acquired Kades-Margolis Corporation (KMC), a provider of 403(b) planning services to school district employees in Pennsylvania.Read more >

Prudently Monitoring Legacy Vendor Contracts

“When I took over the benefits function at our company a year ago, I found a 403(b) provider arrangement that we had outgrown as an organization. The size of our ERISA 403(b) plan had grown dramatically in recent years as our organization had grown, but we still had investments and servicing more befitting a smaller plan. The plan committee decided to conduct an RFP, and we have a brand new vendor relationship with which we could not be happier. However, the old investments are in individual contracts that can only be moved at the individual direction of each participant. We monitor both the old and new investment as part of our due diligence, but the monitoring of the old funds seems pointless as we cannot move funds out of any investment in the old contract as a plan sponsor, no matter whether the investment violates our Investment Policy Statement or not, and no matter how poorly the investment performs. Is there any additional action that we should be taking as fiduciaries with respect to these investments with the prior provider?”Read more >
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

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

Advertising: advertise@strategic-i.com

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