(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
June 24th, 2016
The annual report of the Social Security Trust Funds indicated that total assets of the OASDI Trust Funds increased by $23 billion in 2015 to a total of $2.82 trillion. Beginning in 2020, the total cost of the program is expected to exceed income. In order for the combined OASDI funds not to become depleted in 2034, Congress will need to take some action, the Social Security Administration said.Read more >

PSNC 2016: Dealing with Problematic Participants

Two retirement industry experts discussed how to respond to outspoken retirement plan participants—those who backlash against changes as well as those who may think they know best or who read or watch something that causes them to question their employer’s retirement plan.Read more >
Employers are struggling with how to provide a valuable health care benefit in a cost-effective way, while employees, underprepared for retirement, view the projected health care costs as a top concern.Read more >

Participants Say DC Plans Fall Short in Key Areas

Forty-five percent of participants believe their DC plans will not help them meet their retirement goals, according to a Prudential Retirement survey.Read more >

The Internal Revenue Service (IRS) has proposed regulations that would clarify or modify certain specific provisions of the final regulations under section 409A for nonqualified deferred compensation plans.Read more >

Witnesses speaking during a Senate subcommittee hearing expressed the benefits of allowing open multiple employer plans for small businesses and discussed what legislation about them should include.Read more >

New Church Plan Lawsuit Presents a Different Angle

While other lawsuits question a retirement plan’s “church plan” status, a new suit contends a church plan elected to be an ERISA plan, but failed to comply with ERISA.Read more >

IRS Proposes Deferred Compensation Plan Tax Regulations

As proposed, the regulations would impact the tax burdens of participants and beneficiaries of deferred compensation plans of state and local governments, as well as other tax-exempt entities.Read more >

Senators Want to Help Participants Find Old DC Accounts

The Retirement Savings Lost and Found Act aims at simplifying the process of first locating and then consolidating abandoned defined contribution plan accounts.Read more >

The average amount of money people spend to go to work each month is $276, or around $3,300 per year, according to a new CareerBuilder survey. The survey broke down the expenses by type and found that it also costs money to get a job.Read more >

David Levine and David Powell, with Groom Law Group, and Michael A. Webb, vice president, Retirement Plan Services, Cammack Retirement Group, will field your questions concerning 403(b) plans and regulations. Send them to rmoore@assetinternational.com with Subject: Ask the Experts. Answers may be printed in future (b)lines. This feature is to provide general information only, does not constitute legal advice, and cannot be used or substituted for legal or tax advice.

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

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