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November 28th, 2017

Navigating RMDs

Required minimum distributions (RMDs) are mandatory, annual withdrawals that participants must take when they turn 70 1/2 years old and are no longer employed, or when they work past that age then retire. Internal Revenue Service (IRS) rules apply to many plan types, including 403(b) plans. Sponsors need to know the required minimum distribution rules, as well as exceptions, how to calculate them, how recordkeepers help, how RMDs apply to beneficiaries, whether they apply to annuities, the consequences of not taking RMDs and tasks that may get overlooked.Read more >

2017 Year-End Deadlines and Tips for Retirement Plans

Kyle Woods, senior associate at Alston & Bird, and Elizabeth Thomas Dold, principal at Groom Law Group, Chartered, discuss year-end deadlines and tips for retirement plans.Read more >

DOL Delays Full Implementation of Fiduciary Rule Again

The Department of Labor (DOL) has decided to delay implementation of the special transition period for the fiduciary rule’s Best Interest Contract Exemption (BICE) and the Principal Transactions Exemption, and of the applicability of certain amendments to Prohibited Transaction Exemption 84-24 (PTEs) for 18 months, from January 1, 2018 to July 1, 2019.Read more >
Problem With Compensation Definition in 403(b) Prototype Plan
“We use a recordkeeper-provided prototype plan document for our 403(b) plan, and the base plan document only allows for a modified W-2 definition of compensation, that adds back deferrals to 403(b), 457(b) etc. plans, but otherwise includes all other forms of W-2 comp, and does not specifically exclude employee benefit payments. We maintain a 457(b) plan, and, of course, distributions from that plan are W-2 income. The base plan document does not exclude such distributions from compensation. Our adoption agreement does permit us modify the base plan document definition of compensation, but it currently does not exclude 457(b) distributions. Should they be excluded?”Read more >

Ascensus Enhances Digital Experience for TPAs

Ascensus, has launched an enhanced digital experience for third-party administrators (TPAs) that use its recordkeeping platform via a refreshed, web-based plan management dashboard.Read more >

Break From the Grind: Is There a Link Between Baby Names and the Stock Market?

“Parents increasingly tend to give their children unusual, if not unique, names during and shortly after positive social mood trends,” says Alan Hall, a senior analyst at the Socionomics Institute and a contributing author to the book Socionomic Studies of Society and Culture. “Parents are more likely to opt for ordinary names during and shortly after negative mood trends.” Hall says one of the best ways to measure the country’s social mood is through the ups and downs of the stock market, so he compared more than seven decades worth of stock-market records to baby-naming records. He found three ways naming babies has similarities to investing in the stock market.Read more >

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

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