(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
March 6th, 2018

Women Need Help Improving Retirement Confidence

Fifty-three percent of women plan to retire after the age of 65, including 13% who do not plan to ever retire, according to the Transamerica Center for Retirement Studies. Of those who plan to work past retirement age, 58% say they want the income, 48% say they are concerned that Social Security will provide them with less income than they expected, and 47% say it will be because they cannot afford to retire because they will not have saved enough.Read more >

Different Nudging Required for Auto Enrollment Plans Than Opt-In Plans

A study from the TIAA Institute concludes that focusing on financial literacy and understanding of exponential growth is likely to be fruitful for getting defined contribution (DC) plan participants in an opt-in plan, while efforts targeted at procrastination tendencies are likely to be particularly important in automatic enrollment plans.Read more >
Amounts Allowed for 403(b) Hardships Under Budget Bill
“We currently sponsor an Employee Retirement Income Security Act (ERISA) 403(b) plan and read that the new budget bill allows earnings on elective deferrals to be distributed with hardship withdrawals.”Read more >

DOL to Take Fiduciary Seminar to Louisiana

The compliance assistance program will increase awareness and understanding about basic fiduciary responsibilities when operating a retirement plan.Read more >

More Than Half of Americans Would Like to Save More

Among those who said they would like to save more, 56% said retirement was a top reason; however, LIMRA found that debt is a major obstacle preventing many people from saving as much as they would like.Read more >

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

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