(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
July 2nd, 2019

GASB Proposes Financial Reporting Changes for Government 457 Plans

An Exposure Draft proposes that if a Section 457 plan meets the definition of a pension plan in Government Accounting Standards Board (GASB) guidance, the appropriate GASB pension standards should be applied to the financial reporting for that plan.Read more >

The Shifting Mechanics of Hardship Withdrawals

In a new Snapshot publication, the IRS offers a detailed review of the shifting regulatory provisions applying to pre-retirement hardship distributions from DC plans, noting how these are changing as a result of the Bipartisan Budget Act of 2018.Read more >

Gen X Financially Behind Prior Generations at Same Ages

However, the Generation X families associated with disadvantaged groups were the driving force for the lower overall financial indicator results, an Employee Benefits Research Institute (EBRI) issue brief says.Read more >
Must a Nonelecting Church Plan Require Spousal Consent?
“Our retirement plan is a nonelecting church 403(b) plan (has not elected to be covered under ERISA). Neither our plan document nor our policies require a spousal consent for a plan loan or any distribution. Would community property laws require us to get spousal consent for loans or a distribution?”Read more >

Principal, Wells Fargo Combination to Provide Broader Range of Services

Principal’s acquisition of Wells Fargo’s Institutional Retirement & Trust business is complete, and Principal’s Renee Schaaf discussed what that means going forward for the businesses and their clients.Read more >

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

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