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October 12th, 2018

Deloitte Makes Suggestions for Addressing Loan Leakage From Retirement Accounts

According to Deloitte, as fiduciaries, plan sponsors cannot ignore the growing risk and potential liability represented by loan default leakage. In a report, the firm explores mechanisms to prevent loan leakage, including policy changes to plan design, loan education programs, debt consolidation, payroll program automation, and 401(k) loan insurance.Read more >

Social Security Benefits to Increase in 2019

Social Security and Supplemental Security Income (SSI) benefits will increase by 2.8% in 2019, the Social Security Administration announced.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

Americans, Even Those Already Retired, Could Do More to Secure Their Financial Future

Debt affects many retired Americans and fear of the stock market is affecting those not yet retired, a survey finds.Read more >

Money Personalities Can Inform Financial Wellness Program Decisions

PwC has identified findings about money personalities and behaviors that can influence how employers tailor their approach to financial wellness programs.Read more >

Following Retirement Plan Rules When a Part-Time Employee Is Hired Full-Time

When an employer decides to hire full-time that part-time or seasonal employee, he is not treated as a new hire in every way. As far as enrollment materials and disclosures for retirement plans, the employee should receive the same materials as any new hire, but when it comes to calculating eligibility and vesting, hopefully the employer has kept records of past service.Read more >

DOL Pressure on Missing Participants Propels New Solution

According to Mark Koeppen, senior vice president in charge of strategic rollovers for FPS Trust, disproportionate cost-shifting to accounts with higher balances and increased liability are just some of the issues fiduciaries face when employees move on to other opportunities and leave their qualified retirement plan balances behind. Sensing an opportunity to better serve plan sponsors facing this challenge, FPS Trust has designed a fully automated rollover program that will establish individual retirement accounts (IRAs) for former, non-responsive employees with qualifying balances below $5,000. The solution is also tailored for terminating plans with non-responsive participants.Read more >

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

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