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July 20th, 2018

Brown University 403(b) Plans Suit Moves Forward

A federal judge denied dismissal of plaintiffs’ allegations that a prudent fiduciary would have chosen one—rather than two—recordkeepers; that a prudent fiduciary in like circumstances would have solicited competitive bids; and a claim regarding recordkeeping fees.Read more >

Proposed Bill Would Allow Employers to Provide Side-Car Emergency Savings Accounts

A package of bills sponsored by four U.S. Senators would also increase access to workplace retirement savings accounts and help workers who already have retirement accounts save more.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

‘Low-Cost’ Does Not Always Mean ‘Better’ TDFs

According to Morningstar’s 2018 Target-Date Fund Landscape report, many target-date fund (TDF) providers have adapted to meet the burgeoning demand for low-cost options. When TDF providers have launched additional lower-cost series to meet demand, those series generally have been the most popular. However, Morningstar finds not all have produced better performance results than older, more-costly ones. Morningstar warns that the distinction between “active” and “passive” target-date series has become more muddled in recent years.Read more >

Employees Want Financial Education and Employers Are Stepping Up

The International Foundation of Employee Benefit Plans found employers are providing education on a variety of topics, but the top five most common topics covered in employer-sponsored financial education programs include retirement plan benefits, pre-retirement financial planning, budgeting, investment management and retiree health care.Read more >

Millennials Need Urging to Invest in the Market

Ryan Bailey, head of the Retail Banking Group, Bank of the West, offers tips for plan sponsors to help educate Millennials about the importance of investing.Read more >

Personalized Planning & Advice Managed Account Solution Launched by Fidelity

Through the expanded Fidelity managed account program, employees will benefit from “ongoing, proactive engagement, including expanded annual checkups, reminders, and information that addresses their specific investment needs, to help them stay on track toward their financial goals.”Read more >

OneAmerica to Offer Russell Investments Managed Accounts

Global asset manager Russell Investments has reached an agreement with OneAmerica to distribute Russell Investments’ Adaptive Retirement Accounts (ARA) on behalf of defined contribution (DC) plan clients. The managed account option will be available to the OneAmerica open architecture trust business, which includes U.S. corporations, nonprofit organizations and public-sector entities.Read more >

Break From the Grind: Some Employees Could Use More Deodorant in Summer Months

The summer months often present unique issues for employers when it comes to dress codes, social events, and hygiene, among other things, says a new XpertHR report on summer workplace issues. The firm offers recommendations for dealing with these issues.Read more >

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

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