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March 21st, 2023 Information & Insights for the 403(b) Community Government Employees Express Fear of Outliving Retirement Income Personal debt, possible cuts to Social Security and rising inflation are concerns for state and local government employees when saving for retirement. Biden Uses First Veto to Uphold DOL ESG Rule Veto permits retirement plans to continue using environmental, social and governance criteria when selecting retirement plan investments. Ask the Experts Can Mandatory Contributions to a 401(a) Plan Be Designated as Roth? We are a public university that sponsors a 401(a) and 403(b) plan. We realize that, under the Secure 2.0 Act of 2022, we can permit employees to designate employer contributions as Roth contributions, beginning in 2024. But what about mandatory contributions? We have them in our 401(a) plan; they are picked up as pretax contributions under Internal Revenue Code Section 414(h) and are considered to be employer contributions for purposes of the 402(g) elective deferral limit. DB Summit: Alternative DB Plan Designs Experts explained the advantages of cash balance DB plans and variable plans that offer a set payday without losing the advantages of market growth. New Plan Creation Under SECURE 2.0 Join PLANSPONSOR, PLANADVISER and a panel of industry experts on April 5 as we discuss SECURE 2.0 provisions related to the creation of new retirement plans; why existing plan sponsors should care about the rules for newly created plans; and how SECURE 2.0 can assist advisers and employers in closing the retirement plan coverage gap. Did someone forward you this newsletter? Sign up here to get (b)lines directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850