PLANSPONSOR Weekend Newsdash
Week ending April 28th, 2017
Happy weekend, PLANSPONSOR readers! We finally have a new Labor Department Secretary, which may provide some clarity about the fiduciary rule implementation. In other news, the Internal Revenue Service (IRS) has clarified a piece of calculations for additional loan amounts to participants, and an analysis shows that using proposed IRS mortality table assumptions could cost defined benefit (DB) plan sponsors more. Plan sponsors are showing concerns about using while labeled funds in their investment lineups, and a study found Millennials are the most cost-conscious health plan participants. All this and more in this edition of PLANSPONSOR Weekend!
Editor's choice
Compliance
Labor Secretary Confirmation Could Bring Fiduciary Clarity
The U.S. Senate has quietly approved President Trump’s Secretary of Labor nominee, Alexander Acosta. Acosta, working with whomever is named to fill the role of head of the Employee Benefits Security Administration (EBSA), will oversee the implementation of the Department of Labor (DOL) fiduciary rule reforms championed by the Obama White House. Numerous attorneys, executives and analysts have told PLANSPONSOR they have been very eager to get to this point; without a Labor Secretary in place there has been a lack of clarity from within the DOL as to what the future of the rulemaking might be. Read more >
Compliance
IRS Clarifies Computation of Plan Loans Available to Participants
A memorandum suggests there are two ways an employer can determine the highest outstanding loan balance in the past year when calculating the amount of an additional loan a participant can take from her defined contribution (DC) plan. Read more >
Administration
Proposed Mortality Assumptions Will Increase DB Plan Costs
The Society of Actuaries estimates an increase in funding target liabilities, Pension Benefit Guaranty Corporation (PBGC) premiums and minimum required contributions. Read more >
Investing
Plan Sponsors Show Concerns About Using White Labeled Funds
Plan sponsors participating in a recent PLANSPONSOR forum especially expressed concerns about transparency issues. Read more >
Benefits
Millennials Most Cost-Conscious Health Plan Participants
For example, Millennials are more likely than the other generational cohorts to say they tried to find the cost of health care services before getting care. Read more >
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MOST POPULAR STORIES
AT&T Sued Over Calculation of Early Retirement Benefits

The plaintiffs say the plan’s terms reduce benefits using “Early Retirement Factors” and “Joint and Survivor Annuity Factors” which result in plan participants receiving less than the actuarial equivalent of their vested accrued benefit, as required by ERISA.

Congressional Leaders Want SECURE Act Passage in 2019

Based on the conversations industry advocates are having in Washington, none of the leadership in the Senate or the House opposes passage of the SECURE Act.

Social Security Administration Announced COLA for 2020

Employees not only need basic education, but they need to know how to include Social Security in their retirement income strategy.

Could GE Have Continued Its DB Benefits?

GE is freezing pension plans and offering a lump-sum window to certain former employees, but John Lowell, with October Three, questions whether a design-based solution would have helped the company continue to offer DB benefits to employees.

Millennium Trust Helps Small Businesses Select a Retirement Plan

The Retirement Savings Selector Tool for Small Businesses was created to help small businesses identify a retirement savings option that may be a fit for their business by answering a few quick and easy questions.

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

Advertising: advertise@strategic-i.com

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