(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
June 13th, 2017

IRS Issues List of Pre-Approved 403(b) Plan Documents

The Internal Revenue Service has published its list of pre-approved prototype and volume submitter 403(b) plan documents. An eligible plan sponsor that adopts on or before the end of this remedial amendment period a prototype or volume submitter plan with an opinion or advisory letter retroactive to the first day of such remedial amendment period will automatically be considered to have corrected any form defects (except to the extent any document incorporated by reference into the plan must be amended). Read more >

Financial Wellness: Holistic Education Programs

Honing in on the term ‘financial wellness,’ the day two panel at the 2017 PLANSPONSOR National Conference concerning well-rounded programs discussed how plan sponsors can offer holistic materials and value to participants—beyond education. Read more >

A Closer Look at Plan Health

Diagnosing key components of plan health and embracing proactive administration are crucial in ensuring retirement readiness for all participants. Read more >
ASK THE EXPERTS
Changing Withdrawal Provisions When Transferring to a 403(b)(1) Annuity Contract
“I work with a 403(b)(7) plan with employer matching and employer non-elective contributions in addition to elective deferral contributions. The plan doesn’t permit age 59-1/2 and hardship withdrawals. The plan is transferring to a 403(b)(1) annuity contract and would like to permit age 59-1/2 withdrawals from all sources and hardship distributions of elective deferral contributions.” Read more >

Learning from Litigation

It is not always possible, even for the most carefully run retirement plans, to avoid getting dragged into Employee Retirement Income Security Act (ERISA) litigation, and so having a clear response plan in place is essential. Read more >

Fixing Your Mistakes—Correcting the Most Common Plan Errors

Speaking at the 2017 PLANSPONSOR National Conference, in Washington, D.C., Tami Guimelli, assistant vice president, Employee Retirement Income Security Act (ERISA) attorney, benefits consulting group at John Hancock Retirement Plan Services, discussed common plan mistakes and how to navigate the regulators’ various correction programs. Read more >

The Many Benefits of Re-enrollment

Experts addressing the PLANSPONSOR National Conference urged attendees not to fear aggressive re-enrollments from a fiduciary or workload perspective. Read more >

Retirement Security at an Inflection Point

Joe Ready, executive vice president and director of Wells Fargo Institutional Retirement and Trust, told attendees of the 2017 PLANSPONSOR National Conference many of today’s retirement planning challenges can be “addressed and even solved through what I call ‘technology with a purpose.’ We need to be creating and implementing highly targeted and efficient communications and solutions that are very aggressive in helping participants get on the right track. We need to make retirement planning simpler, more targeted, timelier and more relevant for all workers.” Read more >

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

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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