PLANSPONSOR Weekend Newsdash
Week ending August 23rd, 2019

With the Department of Labor’s (DOL)’s proposal about electronic retirement plan disclosures, now may be a good time to review the 2019 Compliance Calendar as a reminder of what disclosures are due from now until the end of the year for Employee Retirement Income Security Act (ERISA) plans. Although participants receive fee disclosures now, a 2017 survey found they would find more information about investment fees useful. And proposed legislation, as well as industry stakeholders, are aiming to add to plan sponsors’ plate required disclosures of lifetime income equivalents on defined contribution (DC) plan participants’ account statements. Enjoy this edition of PLANSPONSOR Weekend!

Editor's choice
Compliance
Rule on Electronic Disclosures Moving Along
The OMB has received for review a proposed rule from the DOL aimed at reducing costs and improving participant understanding of retirement plan disclosures. Read more >
Compliance
2019 ERISA Plan Compliance Calendar
A schedule to help plan sponsors track important due dates for their plan. Read more >
Participants
Participants Say More Information About Plan Investment Fees Would Be Useful
Roughly four in five retirement plan participants said it would be at least somewhat useful to have additional information about investment fees, according to research from The Pew Charitable Trusts. Read more >
Industry Voices
Barry’s Pickings: We Need Standardized Lifetime Income Disclosure, ASAP
Michael Barry, president of October Three (O3) Plan Advisory Services LLC, discusses support for—and some opposition against—providing lifetime income disclosures to DC plan participants. Read more >
Compliance
FASB Announces Changes to DB Plan Disclosure Requirements
Some disclosure requirements are removed from Subtopic 715-20, Compensation—Retirement Benefits—Defined Benefit Plans—General, and some requirements are added. Read more >
MOST POPULAR STORIES
Employer Health Benefit Costs to Rise 6.5% in 2020

A focus on managing chronic conditions, and education to improve health care utilization can help employers manage cost increases.

Avoid Pitfalls to Properly Replacing DC Plan Investments

An analysis found monitoring DC plan investment menus and making necessary changes results in better performance, and researchers have followed up with four pitfalls to avoid when making investment changes.

Sidecar Savings Accounts Create Current and Future Financial Security
As corporate America considers its practical and moral obligations to employees, a logical place for it to focus is on helping each one become more financially secure—both now and post-employment.
(b)lines Ask the Experts – Can a 401(a) Plan Account be Rolled Into a 403(b) Plan?
Experts from Groom Law Group and Cammack Retirement Group answer questions concerning 403(b) plans and regulations.
Plan Sponsors Should Address Financial Squeeze Put on Gen X

Struggling with debt and budgeting, Gen Xers are in their prime earning years, they are getting close to retirement and they are taking care of both their children and their parents.

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

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