(b)Lines Information and Insights for the 403(b) community / brought to you by PLANSPONSOR.
September 7th, 2018

2019 Awards Nominations Are Open

The nomination process has begun for the 2019 Plan Sponsor of the Year and Retirement Plan Adviser of the Year Awards. Read more >

President Trump Orders Review of Open MEPs, RMD Rules

President Donald Trump on Friday afternoon signed an executive order aimed at “boosting retirement security” for everyday Americans. The order calls on the Treasury Department to review and potentially update its rules establishing that individuals must begin making withdrawals from retirement accounts starting no later than six months after their 70th birthday. Additionally, President Trump also called on the Department of Labor (DOL) to consider the pros and cons of allowing small businesses to jointly offer retirement plans (open multiple employer plans, or MEPs). Read more >
ASK THE EXPERTS
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

Trump Executive Order Includes Call to Simplify Retirement Plan Disclosures

In addition to ordering a review of RMD rules and expansion of MEPs, President Donald Trump asked both the Treasury and Labor Departments to review actions that could make retirement plan disclosures easier to understand for participants and less costly to employers. Read more >

Archdiocese of San Juan Files for Bankruptcy After Pension Plan Judgement

Earlier this year, a judge ordered the archdiocese to pay $4.7 million to both retired and active teachers, but the archdiocese says it no longer has any money. Read more >

Mercer Makes Recommendations for Finding Missing Participants

If there are missing participants that plan sponsors have not made a genuine effort to find, “the entire plan could be disqualified under the tax code and the plan fiduciaries may be found to have breached their ERISA duties,” says Norma Sharara, a partner with Mercer. Read more >

Segal Group Recommends Steps for DC Plan Cybersecurity

Among other things, it is recommended that plan sponsors minimize requests for and use of personally identifiable information and review recordkeepers’ security procedures. Read more >

Barry’s Pickings: Two Cheers for Open MEPs

Michael Barry, president of October Three (O3) Plan Advisory Services LLC, says open MEPs will work up to a point, but contends that they only deal with one of the obstacles preventing small employers from adopting retirement plans. Read more >

Fidelity Merges Active and Passive Funds in New TDF Suite

Fidelity has launched 13 Fidelity Freedom Blend Funds, combining the use of active and passive management in the same target-date fund (TDF) suite. Read more >

New ICI Website Takes on Myths About America’s Retirement System

The Investment Company Institute (ICI) has launched a new website, FactsOnRetirement.org, which highlights its research and suggests that America’s retirement system is strong. The site takes on myths about the system and offers tips for those who want to learn more about saving for retirement. Read more >

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

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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