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November 24th, 2020 Information & Insights for the 403(b) Community Dangers of Debt Participants must find their financial footing to save for retirement. Rules for Retaining Benefit Plan Records Electronic filing is popular, but benefit plan sponsors need to know the rules about what documents can be stored digitally and how. Ask the Experts Terminating a 403(b) and Starting a 401(k) “I work with an Employee Retirement Income Security Act (ERISA) 403(b) plan sponsor that has a 403(b) plan in which each participant owns an individual annuity contract. We wish to replace the 403(b) plan with a 401(k) plan. Can we terminate the 403(b) plan and start a 401(k) plan immediately afterward? Are there any special legal issues in terminating the existing plan or starting the new plan, considering that participants are not terminating employment?” COVID-19 Driving Keen Interest in Financial Wellness Programs The programs proved to be quite effective in allaying retirement plan participants’ fears about market volatility. TIAA President and CEO Announces Retirement TIAA has announced that Roger W. Ferguson Jr. intends to retire as president and CEO on March 31. 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