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May 18th, 2021 Information & Insights for the 403(b) Community 403(b) Plan Sponsor Sued Over Excessive Fees and Underperforming Investments The lawsuit calls out the use of the active suite of the Fidelity Freedom target-date funds, among other things. IRS Publishes Calendar Year 2022 HSA Contribution Limits The limit for individuals with self-only coverage will increase $50, and the limit for those with family coverage will increase $100. Ask the Experts Email amy.resnick@issgovernance.com with subject line “Ask the Experts.” Plans With ESG Options See Larger Contribution Rates Ninety percent of participants who are aware of environmental, social and governance options in their plan’s lineup say they invest in them.  IRS Clarifies Implementation of Partial Plan Termination Relief The agency says the relief applies to each plan year which falls inside the relief period, and provisions of the law are not limited to staff reductions caused by the COVID-19 pandemic. SECURE 2.0 Calls for Guidance on Asset Allocation Fund Benchmarks The Securing a Strong Retirement Act asks the DOL to modify ERISA to allow plan sponsors to use a benchmark that’s a blend of different market indexes. IRS Says Lack of Details Is a Common Error in VCP Submissions Plan sponsors, or their representatives, can refer to an updated IRS webpage to ensure submissions to the voluntary correction program are error-free. 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 400, Rockville, MD 20850