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

MassMutual Sued Over Stable Value Fund Fees

A 401(k) plan participant has filed suit against Massachusetts Mutual Life Insurance Company, alleging the firm collects tens of millions of dollars annually in undisclosed compensation due to the way it values the crediting rate for stable value funds offered to 401(a) and 403(b) retirement plans.Read more >

Most Gen Xers Dismal on Retirement Hopes

Generation X’s skepticism about retirement may be warranted, according to a report from the Insured Retirement Institute (IRI). Overall, more than one-third of this demographic has nothing saved for retirement.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

Retirement Plan Deferral Limit Unchanged for 2017

The Internal Revenue Service (IRS) announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017 in Notice 2016-62. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan remains unchanged at $18,000.Read more >

A Simple Rule for Spending Down Retirement Savings

A new rule put forth by a fellow of the Society of Actuaries allows a comfortable, reasonable level of spending without retirees doing a lot of analysis and planning.Read more >

What Plan Sponsors Should Know About the Final Fiduciary Rule

When the Department of Labor’s (DOL) fiduciary rule proposal came out last year, there was some concern that it would affect plan sponsors by requiring Best Interest Contracts (BICs) from advisers, even with one-time projects, such as defined benefit (DB) plan annuity purchases, that it would affect retirement education for participants, and even affect advice relating to health savings accounts (HSAs). The final rule released this week, made some important changes in response to these concerns.Read more >

Ask the Experts – Must Participant Loans Be Paid Upon Termination?

“Our recordkeeper insists that the final loan regulations require repayment of the loan upon termination of employment, but I have argued with them that this is not the case. Is the recordkeeper correct, or am I correct?”Read more >

A New Fee Challenge for Plan Sponsors: Levelization

Plan sponsors, as a whole, are unaware that participants pay disparate fees, and service providers, particularly recordkeepers that receive revenue-sharing payments, are not going to address it, experts say. It is incumbent on sponsors, then, to ask their plan advisers and recordkeepers about fee levelization.Read more >

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

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