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November 10th, 2017

Church Pension Group Says Move to DC Plan Not for Benefit of Participants

The Church Pension Group, the authority for administering pensions and other benefits for Episcopal clergy and to collect assessments to fund such benefits, says it has considered moving from a defined benefit (DB) plan for clergy to a defined contribution (DC) plan and concluded that doing so “would be irresponsible.”Read more >

Retirement Clearinghouse Releases Findings From Auto Portability Use

Results from the firm’s product use by one plan sponsor found that upon consolidation, workers’ median plan account balance increased by 46% and the combined future value of their preserved savings was more than $3 million at normal retirement age.Read more >
Groom Law Group and Cammack Retirement Group will field your questions concerning 403(b) plans and regulations. Email rebecca.moore@strategic-i.com with Subject Ask the Experts

Tax Reform Bill Would Be Unfavorable to NQDC Plans

While the tax reform bill issued last week includes many favorable provisions for employer-sponsored retirement plans, the proposal effectively eliminates nonqualified deferred compensation (NQDC) plans as tools for tax planning available to executives and public companies and would significantly restrict or effectively eliminate common forms of long-term incentive compensation, according to a Benefits Brief from Groom Law Group, Chartered.Read more >

‘Successful Savers’ Actively Engage in Retirement Planning

Emotional factors play a key role in planning for life goals, as three-quarters (77%) of those planning for retirement listed living comfortably as a top goal, while 70% cited travel and 56% selected spending more time with family, according to the findings in the most recent PNC Perspectives of Retirement Survey. However, of those considered to be “successful savers,” 72% are confident they will achieve these goals. Most successful savers are taking the concrete steps they need to make those goals achievable.Read more >

Consumers Not Receptive to Employer-Provided Retirement Planning Resources

Only about one third (35%) of U.S. consumers use or would use “retirement planning resources provided through employer” while 41% do not or would not, according to Hearts & Wallets research. Yet, retirement savings accumulators, especially younger ones, are seeking help more than five years ago.Read more >

Break From the Grind: More Sleep Would Make Better Workers

Nearly three in four (74%) full- and part-time employees say they get less than eight hours of sleep on a typical work night, averaging just 6.9 hours of sleep, according to a survey from Glassdoor. The survey, conducted online by Harris Poll among 1,077 U.S. adults employed full- and part-time, found that 66% say they would be better employees if they got more sleep.Read more >

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

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