PLANSPONSOR Weekend Newsdash
Week ending March 24th, 2017
Happy Friday, PLANSPONSOR readers! This week was all about retirement confidence, as the Employee Benefit Research Institute (EBRI) released the 27th edition of its Retirement Confidence Survey. The survey found individuals are not taking all the steps they can to prepare for a comfortable retirement. Another survey found having a written plan increases retirement confidence, while other surveys found African Americans and Latinos need help with debt before being financially secure and revealed why Americans aren’t saving more for retirement. In other benefits news, the House of Representatives failed to vote on new health care reform, and a look at the provisions of the bill and why there was no vote shows what lawmakers are seeking. All this and more in this edition of PLANSPONSOR Weekend!
Editor's choice
Data and Research
Retirement Confidence Doesn’t Match Planning
Just four in 10 workers report they and/or their spouse have ever tried to calculate how much money they will need to have saved to live comfortably in retirement, and fewer have taken other steps to prepare. Read more >
Data and Research
A Written Plan Helps With Retirement Confidence
Forty-three percent of investors with a written plan are highly confident they are headed towards a comfortable retirement, compared to 23% of those without a written plan. Read more >
Participants
Addressing Debt Key to Financial Wellness for African Americans, Latinos
While planning for retirement was the overall top concern for employees in 2016, Financial Finesse found the top concern for African Americans and Latinos was getting out of debt. Read more >
Data and Research
Americans Cite Several Reasons for Not Saving More for Retirement
The top reason Americans aren’t saving more money, reported by nearly two-in-five, was having a lot of expenses, a survey found. Read more >
Benefits
Provisions Lawmakers Are Seeking in Health Reform
The U.S. House of Representatives did not vote on the new health bill as planned Thursday, but a look at why they didn’t and the provisions of the bill show what lawmakers are seeking—some of which would reduce costs and burdens for employers. Read more >
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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.

New Lawsuit Highlights Importance of Cybersecurity for Retirement Plans

A former 401(k) plan participant is suing the plan sponsor and plan providers after unauthorized distributions were made from her account.

IRS Releases 2019-2020 Priority Guidance Plan

The IRS invites public comments and suggestions about guidance.

DC Plans 3.0 Will Really be Tailored to Individual Situations

Bob Collie, head of research at the Thinking Ahead Institute, tells PLANSPONSOR version 3.0 will be customized by “hyper-customization and integrated whole-of-life wealth management” that takes into account all of a person’s savings.

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

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