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May 29th, 2020 Information & Insights for the 403(b) Community The Road Ahead What plan ­sponsors should ­evaluate once the immediate crisis ends. Cornell University 403(b) Plan Suit Could Face ‘Considerable’ Delay Though claims in the case were pared down last fall, the plaintiffs have requested a jury trial, so a federal judge has given them options for proceeding. Ask the Experts Are RMDs Required for Those Who Turned 70 1/2 in 2019? “The SECURE Act increased the age for required minimum distributions (RMDs) for retirees from age 70 ½ to age 72. If we are reading the law correctly, this provision is NOT grandfathered, meaning that, if I have a participant who turned age 70 ½ in 2019, he/she must take an initial RMD by 4/1/2020. I have a retiree who turned age 70 ½ in the second half of 2019, meaning he/she will not turn 72 until 2021. Can that retiree skip the minimum required distribution for 2020, since he/she will not be 72 in 2020?” An Inclusive Approach to Setting (or Resetting) a Financial Wellness Program Warren Cormier, with the DCIIA Retirement Research Center, discusses how financial wellness programs can evolve to better engage employees and address their present-day realities and concerns. Washington University 403(b) Challenge Revived by 8th Circuit Parts of the lower court’s ruling against the plaintiffs’ claims have been rejected and remanded by the appeals court. FutureFuel.io Introduces Cash Back Toward Student Loans Program Users can get up to 30% cash back on items from more than 450 brands, which FutureFuel.io automatically directs to the purchaser’s student loan with the highest interest rate. 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