PLANSPONSOR Weekend Newsdash
Week ending August 11th, 2017
Hello, PLANSPONSOR readers! This week’s focus is on financial wellness and participant education. A new FAQ from the Department of Labor (DOL) clarifies whether encouraging participation/savings in a retirement plan triggers fiduciary status. Providers reveal that their call center staff is trained to educate defined contribution plan participants about the implications of and alternatives to taking a hardship withdrawal. SIFMA commissioned a study that showed advisers have reduced access to retirement advice and products due to the DOL’s fiduciary rule. All this and more in this edition of PLANSPONSOR Weekend!
Editor's choice
Providers, Call Centers Strive to Educate Against Hardship Withdrawals
This time of year is a peak time for hardship withdrawal requests, providers say, and call center staff and provider websites can help educate participants about implications and other options.Read more >
Study Suggests Fiduciary Rule Will Hurt Retirement Investors
Along with its comment letter to the Department of Labor, SIFMA sent study results that showed advisers have reduced access to retirement advice and products.Read more >
Wellness Programs: Untangling the Various Options
As financial wellness be­comes a buzz-term, there is a lack of consensus on what such a program entails.Read more >
Meeting Participant Goals
A hospitality industry plan sponsor introduces one-on-ones with HR to increase participation.Read more >
Data and Research
Women Require More Financial Planning Help
Only 33% of women surveyed said they are extremely knowledgeable about retirement income planning.Read more >
TRIVIAL PURSUITS: Which are the most northern, southern, eastern and western U.S. States?
Plan Sponsors Might Mitigate ERISA Lawsuits With Defensive Provisions
Sponsors can craft retirement plan document language to manage their exposure to claims for benefits and other Employee Retirement Income Security Act claims.
2021 Recordkeeping Survey
TRIVIAL PURSUITS: Meaning and Origin of the Idiom “Watershed Moment?”

Some may describe the arrival of the coronavirus as a “watershed moment.”

Participants Will Need Support to Understand Lifetime Income Projections

Recordkeepers are bolstering education, projection modeling tools and tailored advice capabilities to support plan participants and encourage them to remain on track for retirement income planning.

Editorial: Alison Cooke Mintzer


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