PLANSPONSOR Weekend Newsdash
Week ending June 16th, 2017
Happy Friday, PLANSPONSOR readers! Big news for 403(b) plans this week was the Internal Revenue Service’s (IRS’) release of its 403(b) pre-approved plan list. While the recent Supreme Court ruling clarified the definition of ‘church plan’ under the Employee Retirement Income Security Act (ERISA), it did not resolve the lawsuits filed against hospitals. In health savings account (HSA) news, there may be some improvements hidden in the new health care reform, and plan sponsors are reminded that the Department of Labor’s fiduciary rule included HSAs. A new ERISA self-dealing suit has been filed, and witnesses at an EEOC hearing made suggestions about how regulators and employers can reduce age discrimination and help people work longer.
Editor's choice
IRS Issues List of Pre-Approved 403(b) Plan Documents
Plan sponsors that adopt a 403(b) pre-approved plan by the end of the remedial amendment period will be deemed to satisfy the 2007 final regulations.Read more >
Supreme Court Ruling Did Not Resolve Church Plan Challenges
The next stage will be to determine if the hospital boards or plan committees fit within the principal-purpose definition and whether the hospitals are affiliated with a religious organization, says Tess Gee, with Miller & Chevalier.Read more >
Employers Must Assess HSA Fiduciary Exposure
While HSAs aren’t traditionally thought of as a retirement vehicle, the DOL broadened the scope of conflict of interest rules to include these plans due to their long-term savings and investment aspects.Read more >
Capital Group Faces Excessive Fee, Self-Dealing Suit
Capital Group is accused of selecting and retaining its own affiliated investments in its 401(k) plan to the benefit of the firm and its subsidiaries.Read more >
EEOC Hearing Witnesses Call for Help With Older Worker Employment
As people are living longer and wanting to work longer, witnesses at an EEOC meeting about the Age Discrimination in Employment Act (ADEA) made suggestions about how regulators and employers can reduce age discrimination and help people work longer.Read more >
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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.

Maximum Benefit and Contribution Limits Table 2020

Maximum Benefit/Contribution Limits for 2015 through 2020, with a downloadable PDF of limits from 2010 to 2020.

IRS Proposes Update to Mortality Tables Used to Calculate RMDs

The life expectancy tables and applicable distribution period tables in the proposed regulations reflect longer life expectancies than the tables in the existing regulations.

Employees Are Making Each Other Sick

Having too much work to do and feeling pressure from employers are some reasons employees report coming into work while under the weather.

Congressional Leaders Want SECURE Act Passage in 2019

Based on the conversations industry advocates are having in Washington, none of the leadership in the Senate or the House opposes passage of the SECURE Act.

Editorial: Alison Cooke Mintzer


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