(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
November 6th, 2018

LAST CHANCE to Nominate a Plan Sponsor of the Year

If you work with or for, or know of, a great plan sponsor, please help us recognize the best in the business. It only takes a few minutes, and the deadline is this Wednesday, November 7.Read more >

More Employers Monitoring Retirement Readiness of Employees

The consequences of issues that employees experience if they’re financially underprepared for retirement can spill over to the organization as a whole, and to help minimize these risks, more employers that offer retirement programs are measuring the financial readiness of employees to retire (43%, up 10 percentage points over 2016), according to the 2018 Gallagher Benefits Strategy & Benchmarking Survey. In addition, to help employees reduce their debt stress and maximize their retirement plan savings, more employers are developing financial wellbeing initiatives. Gallagher found that student loan support—still a relatively scarce benefit—is much more common among nonprofits.Read more >

Retirement Industry People Moves

Client engagement expert joins Transamerica; Ascensus acquires Pension Works for TPA division; and Horace Mann Educators announces acquisition of BCG.Read more >
Limits When Contributing to Both For-Profit and Nonprofit Retirement Plans
“What are the combined limits for someone whose employer has both a nonprofit and affiliated for-profit organization, where the individual works for both and participates in retirement plans sponsored by both organizations?”Read more >

Years of Positive Retirement Savings Behaviors Lead to Record Balances

The average 403(b) balance is nearly double what it was a decade ago, according to Fidelity Investments.Read more >

Adjustments to Retirement Plan Websites Can Boost Deferrals

The Voya Behavioral Finance Institute for Innovation, in conjunction with Carnegie Mellon University, the University of London and UCLA, decided to conduct a study to determine if relatively simple adjustments to a retirement plan website would have an impact on participants. The findings reveal that these changes inspired participants to personalize their enrollment, to take advantage of the company match and to increase their savings.Read more >

SafetyNet Offers ‘Cookie Jar’ for Emergency Savings

The financial wellness program rounds up debit card purchases and checking account transactions to the nearest dollar and stores the change in employees’ Cookie Jar savings accounts.Read more >

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

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