PLANSPONSOR Weekend Newsdash
Week ending June 7th, 2019

Happy Friday, PLANSPONSOR readers! This week we’ll be highlighting compliance news. Learn what ERISA Litigator Jerry Schlichter had to say about retirement plan investment and recordkeeping fees in a new interview with PLANSPONSOR. Next, the IRS recently issued Revenue Procedure 2019-25, and announced its 2020 health savings account (HSA) contribution limits. The Department of Labor (DOL) received letters from eight organizations asking to propose regulations that would permit plan sponsors to make electronic delivery the default method of delivery for retirement plan disclosures and notices, and the Securities and Exchange Commission (SEC) announced two new initiatives for teachers and military personnel. Additionally, read what attorneys said about the Setting Every Community Up for Retirement Enhancement (SECURE) Act and other regulation trends during our Washington Update session at this year’s PLANSPONSOR National Conference (PSNC), held this past week in Washington, D.C. All this news and more, on this edition of PLANSPONSOR Weekend. 

Editor's choice
Compliance
An ERISA Litigation Conversation with Jerry Schlichter
Retirement plan investment and recordkeeping fees have fallen in the last 10 years, but ERISA litigator Jerry Schlichter says there is more room for improvement. Read more >
Compliance
IRS Announces 2020 HSA Contribution Limits
The limits will increase $50 for an individual with self-only coverage and $100 for an individual with family coverage in 2020. Read more >
Compliance
DOL Asked to Make Electronic Delivery of Retirement Plan Disclosures the Default
Eight organizations associated with defined contribution (DC) plans submitted a letter to the Employee Benefits Security Administration of the Department of Labor (DOL) asking it to propose regulations that would permit plan sponsors to make electronic delivery the default method of delivery for retirement plan disclosures and notices. Read more >
Compliance
SEC Expanding Financial Education for Teachers, Military Personnel
The initiatives build on the Securities and Exchange Commission’s (SEC’s) past efforts and focus additional enforcement and investor education on these groups. Read more >
Compliance
PSNC 2019: Washington Update
Attorneys discuss provisions of the widely supported SECURE Act, plus hot topics in regulation. Read more >
MOST POPULAR STORIES
AT&T Sued Over Calculation of Early Retirement Benefits

The plaintiffs say the plan’s terms reduce benefits using “Early Retirement Factors” and “Joint and Survivor Annuity Factors” which result in plan participants receiving less than the actuarial equivalent of their vested accrued benefit, as required by ERISA.

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.

IRS Releases 2019-2020 Priority Guidance Plan

The IRS invites public comments and suggestions about guidance.

Principal Announces Key Platform Decisions in Wells Fargo Integration

Principal and Wells Fargo leadership have revealed their technology plans for serving the nonqualified and employee stock ownership plan sides of the combined business.

Participants Invested in TDFs Contribute Less to Retirement Accounts

Surprising actions from retirement plan TDF investors offer lessons for plan sponsors and indicate a need for more innovation in TDF design.

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

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