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 >
2021 Recordkeeping Survey
DOL Clears Up Timing for Lifetime Income Illustrations

The agency promised to issue a final rule ‘as soon as practicable’ and recognized transition time may be needed if the final rule significantly differs from its interim final rule.

Giving Employees the Financial Wellness Help They Want
Offering an array of benefits—addressing both physical and financial wellness—and implementing personalized experiences will set employees up with what they need.
2020 Recordkeeping Survey
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?

Editorial: Alison Cooke Mintzer


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