(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
June 28th, 2016

Americans Feel a Downside of Living Longer

Fifty-one percent of Americans surveyed identified “having enough money to last my whole life” as a very big problem when they thought about living to age 100.Read more >

Financial Knowledge Leads to Better Retirement Savings Behavior

Research shows financial wellness and retirement education can be beneficial even for employees who are already ostensibly knowledgeable about finances.Read more >

Brexit Impact for Retirement Savers

“We are reaching out to our clients and pointing out that over the long term, the world survives. These short-term events don’t last, so don’t speculate on outcomes that are completely unknown,” says Tim Barron with Segal Rogerscasey.Read more >
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.Read more >

Court Finds Former Participant Is a Plan Fiduciary

According to a federal court, a former pension plan participant is a plan fiduciary because she controls assets of the plan she received as an overpayment.Read more >

Delaying RMDs When Switching to Controlled Employer

“I work with the retirement plan of a private university that sponsors an Employee Retirement Income Security Act (ERISA) 403(b) plan. We have a professor who, as part of a program to ease the transition of faculty from active employment to retirement, will no longer work for the university itself but a separate foundation that is controlled by the university. She is older than 70 ½ and wishes to continue delaying her required minimum distributions, and our plan document permits her to delay such distribution until the later of 70 ½ or retirement. My question is, is the professor considered to be retired for minimum distribution purposes even though she is still employed by an entity controlled by the university, or can she still delay her RMD?”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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