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November 9th, 2021 Information & Insights for the 403(b) Community K-12 School Districts: Your Employees Are Confused About Retirement Benefits Increased education and simplification will allow K-12 employees to better understand their options and how they can combine their benefits to ensure a secure retirement. The Security of Savings Things to mull over when adding an emergency savings program to a plan. Ask the Experts Small Balance Cashouts When Annuity Contracts Don’t Allow Them “We currently sponsor a single-recordkeeper ERISA 403(b) plan with both mutual funds and annuity contracts among the plan investments. We wish to add an automatic cashout feature for balances of $5,000 or less upon employment termination, but some (not all) of our annuity contracts do not allow for small balance cashouts. Could we just amend our plan to require cashouts for all of our mutual funds and the annuity contracts that allow them?” Service Provider Collaboration and the DOL’s Cybersecurity Guidance Retirement plan sponsors may have difficulty achieving full compliance with the DOL’s cybersecurity guidance because many of the required actions are controlled by their service providers. OneAmerica Launches Multiple Employer Retirement Plan Solution The firm says its offering is simpler than a PEP and is available to tax-exempt as well as corporate ERISA plan sponsors. 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