Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
March 21st, 2017
Best in Class 401(k) Plans
2017 Best in Class 401(k) Plan Snapshots
Snapshots of PLANSPONSOR’s 2017 Best in Class 401(k) Plans are now online. Read more >
Benefits & Administration
Research Finds Micro 401(k) Plan Sponsors More Generous
The second annual 401(k) Plan Benchmarking Report from ALM Intelligence/Judy Diamond Associates finds a clear “disparity between the quality of 401(k) plans in white-collar and blue-collar industries.” “Micro-sized companies with between two and 10 employees tend to have higher account balances and more generous employer contributions than any other size cohort we looked at,” researchers report. The research also found participation levels and investment offerings for most plans were good. Read more >
MOST READ ARTICLES
1
AT&T Sued Over Calculation of Early Retirement Benefits
2
Congressional Leaders Want SECURE Act Passage in 2019
3
Social Security Administration Announced COLA for 2020
4
New Lawsuit Highlights Importance of Cybersecurity for Retirement Plans
5
IRS Releases 2019-2020 Priority Guidance Plan
Products, Deals and People
Pentegra has introduced the Pentegra Fiduciary SmartPath, a report detailing best practices and strategies for business owners, plan sponsors and advisers to use to help navigate the shifting fiduciary landscape. The report is designed to help understand fiduciary responsibilities and corresponding liabilities, and offers recommendations and guidance for managing these duties. Read more >
Paychex, Inc. has expanded its portfolio of partners and solutions that provide investment and administrative fiduciary protection to 401(k) plan sponsors. The new offerings include Employee Retirement Income Security Act (ERISA) 3(21) investment guidance services through Wilshire Associates and ERISA 3(38) investment management services through Mesirow Financial. Read more >
Urban Institute Offers Public Pensions Simulator
The Urban Institute has developed the public pension simulator, allowing state and local policymakers, along with public employees and retirees, to review the potential impact of reform options on plan cost and retiree benefits. Read more >
Sponsored message from SEI
Case Study: How a Plan Sponsor Changed to White Label Funds
Read about a seamless and efficient way to re-design your plan lineup using white label funds. Download Success Story. Read more >
Market Mirror

Yesterday, the Dow was down 8.76 points (0.04%) at 20,905.86, the NASDAQ was virtually unchanged at 5,901.53, and the S&P 500 slipped 4.78 points (0.20%) to 2,373.47. The Russell 2000 closed 10.04 points (0.72%) lower at 1,384.09, and the Wilshire 5000 lost 177.76 points (0.72%) to finish at 24,583.88.

On the NYSE, 3.1 billion shares traded with 1.4 declining issues for every advancing issue. On the NASDAQ, 2.9 billion shares changed hands, with a 1.6 to 1 ratio of decliners to advancers.

The price of the 10-year Treasury note increased 11/32, bringing its yield down to 2.464%. The price of the 30-year Treasury note climbed 21/32, decreasing its yield to 3.077%.

Compliance
Surge in Wrong VCP User Fees Prompts IRS Reminders
After noticing a surge of incorrect high user fees, the Internal Revenue Service (IRS) Employee Plans Voluntary Compliance function (VC) has released a reminder on ways plan sponsors can evade an overpayment of fees, such as determining the correct voluntary correction program (VCP) submission user fee, and specific qualification for reduced fees. Read more >
Plaintiffs In SafeWay ERISA Lawsuit Establish Standing
A judge has rejected motions to dismiss two Employee Retirement Income Security Act (ERISA) lawsuits filed in the U.S. District Court for the Northern District of California, Lorenz v. Safeway and Terraza v. SafeWay. The cases have a lot of similarities, but Lorenz received a slightly subtler ruling that, strictly speaking, actually granted in part and denied in part SafeWay’s motion to dismiss. Background included in case documents offers extensive detail about the investment and revenue sharing fee agreements at question, reached first with J.P. Morgan Retirement Planning Services and later continued with Great-West. Read more >
Small Talk

ON THIS DATE: In 1788, almost the entire city of New Orleans was destroyed by fire. 856 buildings were destroyed. In 1790, Thomas Jefferson reported to U.S. President George Washington as the new secretary of state. In 1826, the Rensselaer School in Troy, New York, was incorporated. The school became known as Rensselaer Polytechnic Institute and was the first engineering college in the U.S. In 1851, Yosemite Valley was discovered in California. In 1859, in Philadelphia, the first Zoological Society was incorporated. In 1925, the state of Tennessee enacted the Butler Act. It was a law that made it a crime for a teacher in any state-supported public school to teach any theory that was in contradiction to the Bible’s account of man’s creation. In 1928, U.S. President Calvin Coolidge gave the Congressional Medal of Honor to Charles Lindbergh for his first trans-Atlantic flight. In 1963, Alcatraz Island, the federal penitentiary in San Francisco Bay, closed. In 1965, the U.S. launched Ranger 9. It was the last in a series of unmanned lunar explorations. In 1965, more than 3,000 civil rights demonstrators led by the Reverend Martin Luther King Jr. began a march from Selma to Montgomery, Alabama. In 1972, the U.S. Supreme Court ruled that states could not require one year of residency for voting eligibility. In 1994, Steven Spielberg won his first two Academy Awards. They were for best picture and best director for “Schindler’s List.”

TRIVIAL PURSUITS: Since dolphins live in water, one might think they drink it to get their needed water intake, but that’s not true. How do dolphins get the water they need? Read more >
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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