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
IRS Announces 2020 Contribution and Benefit Limits

The contribution limit for employees who participate in 401(k), 403(b) and most 457 plans is increased from $19,000 to $19,500.

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.

Updating TDFs to Provide Better Retirement Income

Three ideas for a qualified default investment alternative (QDIA) design that will better serve participants ready to retire.

IRS Announces Contribution and Benefit Limits for 2019

The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $18,500 to $19,000.

Plan Participants Have Their Own Responsibilities for Cybersecurity
There are common and advanced approaches retirement plan participants can take to derail data breaches and retirement account fraud.

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

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