(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
July 10th, 2018

Tax Reform Change to Plan Loans Requires Updates to Documents

The new law extends the time a participant has to repay loans from 60 days after an offset to the date their tax return is due.Read more >

Focus on Both Financial and Physical Wellness Crucial to Employee Retirement Outcomes

Progressive companies recognize that helping employees better manage their health, wealth and careers is critical to the organization’s value proposition and to attracting and retaining top talent, according to Mercer’s Healthy, Wealthy and Work-Wise, Technology: Driving a Revolution in Financial Fitness. A previous survey found that not saving enough for retirement causes the most stress regarding financial security at 40%—somewhat higher for women at 44% and slightly lower for men at 36%—followed by general economic conditions at 39%. Personal health as a cause of financial stress ranks third at 36%. Mercer suggests smart companies will help employees grow professionally, lead healthier lives and make better financial decisions by leveraging technology to efficiently deliver an enhanced employee experience.Read more >
Must Plans Adopt Budget Act New Hardship Withdrawal Rules?
“I am aware from a prior Ask the Experts column that the Bipartisan Budget Act of 2018 made some changes to the hardship distribution rules? But what if we want to keep the hardship distribution rules that we have in place currently? Will we be forced to remove the requirement that all available loans be taken from our 403(b) plan before a hardship distribution may be issued?”Read more >

Church Pension Fund Announces Series of Appointments

The Church Pension Fund (CPF) announced the election of The Reverend Thomas J. Brown as chair of its Board of Trustees (CPF Board), effective upon the close of General Convention. He succeeds Barbara Creed, who served as chair since 2015 and as vice chair from 2009 to 2015. In addition, Canon Kathryn Weathersby McCormick (subject to her re-election to the CPF Board) and The Rt. Reverend Brian Prior have been elected vice chairs, succeeding The Reverend Timothy J. Mitchell and Sandra S. Swan.Read more >

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

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