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May 15th, 2020 Information & Insights for the 403(b) Community The IRS Will Be Looking at Catch-Up Contributions in 403(b) Plans The agency published an issue snapshot explaining special catch-up contribution rules after issuing a program letter saying such contributions will be a focus of examinations. Don’t Let Participants Be Surprised by Taxes on Emergency Distributions State and local tax treatment of coronavirus-related distributions from retirement plans may be different from federal tax treatment. Ask the Experts Email rebecca.moore@issgovernance.com with subject line “Ask the Experts.” IRS Expands Election and Reimbursement Periods for Health Benefits, FSAs The agency has also announced an increase in the FSA carryover amount. Vanguard Data Supports Adage of Taking Long-Term View With Investing During the first quarter of 2020, most Vanguard investors saw declines in wealth, but over three years, 89% of DC and 76% of retail households had increases in wealth. Endowments and Foundations Overlook Investment Risk Nearly half of the endowments and foundations surveyed indicate an annual loss tolerance of only 5% or less, a figure far exceeded when their portfolios are run through simulations of both the 2002 and 2008 market downturns. MassMutual and NextCapital Offer Managed Advice Solution Massachusetts Mutual Life Insurance Co. (MassMutual) has added a new managed advice solution that allows for greater personalization of investment strategies. Economic Conditions While Growing Up May Influence Job Preference Researchers suggest that macroeconomic shocks, such as the COVID-19 pandemic, have long-lasting effects on what people value in their professions—income or meaning and fulfillment. Did someone forward you this newsletter? Sign up here to get (b)lines directly in your mailbox!

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