(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
May 7th, 2019

Form 5500 Basics: What Sponsors Need to Know

The purpose of Form 5500 is to obtain information regarding plan design and basic plan sponsor information, and the regulatory penalties for failures in filing the form can be severe. Read more >

Appellate Court Revives UPenn 403(b) Lawsuit

However, in a dissenting opinion, Senior Judge Jane Richards Roth says cases such as this one should be carefully scrutinized in order not to permit implausible allegations to result in a large settlement, under which a substantial portion of the funds are diverted to attorneys’ fees. Read more >

SPARK Creates Definitions for Cyber Security Terms

“These definitions provide a level platform for vendor evaluation as it relates to cyber security breach and fraud,” says Rasch Cousineau, a senior consultant with the Hyas Group. Read more >
ASK THE EXPERTS
Early Distribution Penalties for Pre-Tax and Roth Accounts
“I am 57 years old and I just terminated employment with my employer who sponsors a 403(b) plan. My recordkeeper told me that I can withdraw my pre-tax assets and pay ordinary income taxes and that there would be a waiver of the 10% premature distribution penalty since I terminated employment after the calendar year in which I turned age 55. However, the recordkeeper also said to me that I could not withdraw my Roth account tax-free until age 59 1/2 (I have already owned the Roth account for the required five tax years). Is my recordkeeper correct?” Read more >

Sponsored message from Empower Retirement

Boosting the effectiveness of retirement plan communications

Cutting back on jargon and delivering communications where participants want them can help put employees on the right track. Read more >

AIG Appoints SVP, Relationship Management

AIG Retirement Services (formerly VALIC), a retirement plan provider for health care, K-12, higher education, government, religious, charitable and other not-for-profit organizations, has named Freda Lee to the newly created position of senior vice president, relationship management. Read more >

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

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