PLANSPONSOR Weekend Newsdash
Week ending August 19th, 2016
The attack on large universities’ 403(b) retirement plans continues. Attorneys think distinctions between 403(b)s and 401(k)s may give 403(b)s different arguments in the suits, yet they also point out what 403(b) plan sponsors can learn from them. Even as 403(b) plan sponsors are being attacked, a new survey out this week finds they are more focused on improving participants’ outcomes. Also, this week, Fidelity revealed its retiree health care cost estimates—a record high—and sources weighed in on how to help ‘empty nesters’ put more into retirement savings. All this and more in this edition of PLANSPONSOR Weekend!
Editor's choice
Compliance
Law Firm Files Four More Lawsuits Against University 403(b) Plans
Cornell University, Columbia University, Northwestern University and the University of Southern California are the latest targets of lawsuits for excessive fees in their 403(b) plans. This is the second lawsuit filed this week against Columbia University, as another law firm filed a complaint with similar allegations.Read more >
Data and Research
403(b) Plan Sponsors Focusing More on Outcomes
PSCA’s survey found a 24% increase from last year in the number of 403(b) plan sponsors measuring their participants’ ability to meet retirement income goals.Read more >
Data and Research
Retiree Health Care Cost Estimates Reach Record Level
Couples retiring in 2016 can expect to spend $260,000 on health care in addition to long-term health coverage in retirement, according to research by Fidelity.Read more >
Data and Research
‘Empty Nesters’ Not Saving Enough for Retirement
Parents are failing to save additional money left over after their children become financially independent, according to a study by the Center for Retirement Research at Boston College. How can plan sponsors help?Read more >
Data and Research
DC Plan Participants Would Appreciate a Savings Nudge
Defined contribution (DC) retirement plan participants strongly value their workplace retirement plan and would like to see their employers do more to help them save because, looking back on their savings history, they regret not doing more to prepare for retirement.Read more >
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Among other things, the lawsuit accused Reliance Trust Co. of selecting funds for the plan that would benefit itself.

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

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