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
Heroes Act Now In the Hands of a Skeptical Senate

The Heroes Act, passed by a narrow majority in the House, includes union pension partition relief and a waiver for the reinvestment of 2019 and 2020 RMDs.

Final Electronic Disclosure Rule Published by DOL

The leadership at the regulator says this measure will reduce printing, mailing and related plan costs by an estimated $3.2 billion over the next decade.

Share Class Issues Cited in ManTech ERISA Lawsuit

The new complaint closely resembles others that have been filed by the Capozzi Adler P.C. law firm.

Employers Are Beefing Up Financial Wellness Programs

The coronavirus pandemic has exposed workers’ need for financial coaching and for employers to offer resources.

Advancing DC Plan Design
Many features are working to help DC plan participants grow their savings, so it’s time to look at investments for the next element of design evolution.

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

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