(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
January 5th, 2016

Streamlined Investment Menu Could Save Participants Millions

Researchers took a deep dive into a case study in which a real retirement plan sponsor fundamentally reworked its investment menu and found the reformed menu promoted better decisionmaking by retirement plan participants, and researchers estimate it could lead to millions in savings for plan participants.Read more >

Appellate Court Sets Precedent for Church Plan Cases

The first of the appellate courts to rule on recent church plan litigation, the 3rd Circuit reiterated that only churches may establish ERISA-exempt church plans.Read more >
“I am commencing the process of reviewing the 2014 Form 5500 for our calendar-year ERISA 403(b) plan. I noticed that the fees listed in Schedule C are lower than what I calculate plan expenses to be based on the service provider disclosures that are delivered to us, as well as other documentation. Shouldn’t these figures reconcile?”  Read more >

Court Refuses to Apply New Test for Top Hat Plans

A former employee of a Pennsylvania non-profit cannot rely on the Employee Retirement Income Security Act (ERISA) for benefit protections as the plan in which he participated is a “top hat” plan, a court found.Read more >

Catholic Health Initiatives Wins Church Plan Challenge

U.S. District Judge Robert E. Blackburn with the U.S. District Court for the District of Colorado has found that Catholic Health Initiatives (CHI) is a “church” for purposes of the Employee Retirement Income Security Act’s (ERISA’s) church-plan exemption.Read more >

Church Plan Legislation Finally Gets Passed

Newly passed legislation addresses controlled group rules, grandfathered defined benefit (DB) plans, automatic enrollment in church defined contribution (DC) plans, transfers between 403(b) and 401(a) plans, and investing in collective trusts.Read more >

ICMA-RC Enhances Website

ICMA-RC, provider of retirement plans for public-sector employees, recently launched its redesigned website. The enhancements include additional tools to help educate participants about saving for retirement.Read more >

Can SPDs Be Provided for Church Plans?

“I recently commenced employment at a church plan sponsor, and noticed that a Summary Plan Description (SPD) is not provided to participants in our 403(b) retirement plan. Is an SPD not required for church plans? Can an SPD be provided?”Read more >

David Levine and David Powell, with Groom Law Group, and Michael A. Webb, vice president, Retirement Plan Services, Cammack Retirement Group, will field your questions concerning 403(b) plans and regulations. Send them to rmoore@assetinternational.com with Subject: Ask the Experts. Answers may be printed in future (b)lines. This feature is to provide general information only, does not constitute legal advice, and cannot be used or substituted for legal or tax advice.

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

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