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week ending January 24th, 2020 Now that benefits open enrollment is over for most plan sponsors, it is a good time to educate those employees who have selected a high-deductible health plan about the health savings account (HSA) that may coincide with it. Something employees may be struggling with is the competing financial priorities they have and how to allocate their savings dollars. We have sources that offer tips for that. One very important piece to building HSA savings is investing the money put into the account. Plan sponsors should consider how employees use their HSAs when crafting the investment lineup. This edition of PLANSPONSOR Weekend provides information to use in HSA decisions. Editor's Choice Benefits Following Up on HSAs After Open Enrollment Educating employees about health savings accounts can help them maximize their benefit. Benefits Communicating the Difference Between FSAs and HSAs to Participants Employers need to understand the basics of each in order to communicate to participants accurately, and they can use the differences to help employees view HSAs as long-term savings accounts, Sara Caddy, with Dimensional Fund Advisers told webinar attendees. Cover The Savings Hierarchy Participants must take stock of their options, to maximize savings. Benefits Employers May Have to Ask for HSAs That Allow Investing Benefit consultants, benefit brokers and financial advisers are generally not counseling HSA participants to invest their funds, a survey found. Investment Focus HSA Investment Options A valuable way to grow savings for health care expenses. Popular Reads Compliance CARES Act Passes Congress, Including Retirement Plan Relief Plan sponsors who have faced regional natural disasters will be familiar with many of the relief provisions adopted by Congress, from the suspension of required minimum distributions to the doubling of loan limits. Compliance Retirement Plan Provisions Included in Senate’s Stimulus Package Among other things, the bill would allow for targeted, penalty-free access to tax-qualified accounts for those hit hardest by the health crisis. Administration Plan Sponsors Facing Difficult Decisions During Coronavirus Pandemic Stopping employer matching contributions, laying off employees, adjusting DB plan contributions; plan sponsors need to understand the effects of each decision. Ask the Experts Coronavirus-Related Distributions From 403(b) and Governmental 457(b) Plans Experts from Groom Law Group and Cammack Retirement Group answer questions concerning retirement plan administration and regulations. Compliance SECURE Act Eases Paths for DB Plans A new minimum age for in-service withdrawals and permanent nondiscrimination testing relief ease plan sponsors’ ability to keep older employees and protect their benefits. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Weekend directly in your mailbox!

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