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June 19th, 2020 Information & Insights for the 403(b) Community Generations Experience the Effects of COVID-19 Differently Understanding each generation’s attitudes and concerns is key to knowing the right retirement savings education and tools to offer. COVID-19 Widens the Financial Security Gap for Black Workers Statistics about disparities may reveal what is happening among plan sponsors’ own workforces. Ask the Experts Email rebecca.moore@issgovernance.com with subject line “Ask the Experts.” Parties in Dignity Health Lawsuit Still Have Work to Do on Settlement A federal judge said he cannot find that the interests of one subgroup of class members in the case have been adequately protected. Unprecedented Times Increasing Focus on Holistic Well-Being Programs Despite employers’ own financial strain, most are committed to expanding wellness programs to address increased employee needs during the pandemic. DOL Issues SECURE Act RFI on PEPs, Prohibited Transactions Using affiliates to provide services and proprietary investment products when offering a pooled employer plan (PEP) raises fiduciary and prohibited transaction issues that must be addressed. Retirement Tier Widely Recommended for DC Plans A retirement tier is a range of products, solutions, tools and services to support participants who are near, entering or in retirement. Why Now May Be the Right Time for Roth Conversions With account values down, income tax on amounts converted will be lower, if participants have the money to pay them. Retirement Plan ‘Leakage’ Still a Serious Problem A study finds there was $48 billion in penalized retirement plan distributions in 2010, and it raises the question of whether returned excess contributions should be thought of as ‘leakage.’ Transamerica Creates Digital Financial Wellness Center It covers a wide range of topics, from budgeting to preparing for retirement. Did someone forward you this newsletter? Sign up here to get (b)lines directly in your mailbox!

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