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January 5th, 2018

Princeton University Lawsuit Stayed While 3rd Circuit Deliberates

On the motion for reconsideration of its previous choice to rule against summary dismissal, the court is quite skeptical. It has agreed, on the other hand, to stay the proceedings ahead of a 3rd U.S. Circuit Court of Appeals decision.Read more >

House Bill Seeks Retirement Plan ‘Simplification and Enhancement’

Alongside numerous changes, the bill seeks to eliminate the current 10% cap on automatically-increased deferral rates of employees who are automatically enrolled in a plan and would modify required minimum distribution (RMD) rules.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

Small Plans Seeking Help of Advisers

Aaron Friedman, national practice leader, tax-exempt, at Principal in West Palm Beach, Florida, says “small and mid-sized plans are very much in need of advisers because they don’t have dedicated human resources personnel or expertise on plan administration.”Read more >

Loans, Suspended Deferrals Can Reduce Nest Eggs by as Much as 20%

Loans, hardship withdrawals and suspended deferrals reduce Americans’ defined contribution (DC) plan savings by an average of 14%, according to research by MassMutual. The impact is greater for younger workers, as their time horizon for saving is longer than older people.Read more >

PBGC Expands Missing Participants Program

Beginning in January, terminating DC plans will have the option of transferring missing participants’ benefits to the Pension Benefit Guaranty Corporation (PBGC) instead of establishing an individual retirement account (IRA) at a financial institution.Read more >

Tax Bill Impacts Provisions of ERISA Plans

The tax bill currently awaiting President Donald Trump’s signature does not fundamentally change the tax breaks retirement plan participants receive, according to a law alert that The Wagner Law Group issued. However, the Tax Cuts and Jobs Act does make some changes to Employee Retirement Income Security Act (ERISA) plans.Read more >

Target-Date Funds Could Be Costing Your Plan More Than You Know

Michael Schultz, RFC, CFS, president, Venn Wealth & Benefit Services discusses variables that should be considered when doing due diligence on target-date funds (TDFs).Read more >

EBRI Data Delivers Fresh Retirement Health Care Cost Concerns

Retired couples, according to Employee Benefit Research Institute (EBRI) research, can require up to $370,000 to cover premiums for Medicare Parts B and D, premiums for Medigap Plan F, and out-of-pocket spending for outpatient prescription drugs.Read more >

Reports Suggest Massive Fraud in DOL Fiduciary Rule Commentary Process

So far, reporting seems to suggest that the numerous fraudulent comments submitted to the Department of Labor (DOL) regarding the fiduciary rule were done so mainly with stolen or outright fake identities of individuals, rather than, say, those of employers or financial services providers.Read more >

Court Finds Divorce Decree Qualifies as QDRO

Although the case involves an employer-provided life insurance plan, it has lessons for what constitutes a qualified domestic relations order (QDRO) for all ERISA plans.Read more >

ICMA-RC Enhances Participant and Plan Administrative Portals

A new public website has simpler navigation features, straightforward design, targeted messaging and an increased focus on educational tools.Read more >

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

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