PLANSPONSOR Weekend Newsdash
Week ending March 29th, 2019
Retirement plan administration covers a host of duties, many of which are fiduciary duties, and doing what’s best for participants and helping them achieve their best outcomes for retirement is the main focus. Every year, plan sponsors work to improve plan design, and some ways to do this involve considering behavioral science. Plan sponsors also have to “save participants from themselves”—for example, by discouraging loans or getting them to become more engaged with their retirement plans. New trends are always emerging, and we hope that the articles in this edition of PLANSPONSOR Weekend helps plan sponsors stay on top of them.
Editor's choice
Administration
Progressive Sponsors Will Push Custom Designs, Fee Transparency in 2019
Year-end conversations with recordkeepers suggest plan sponsors are highly focused on improving fee transparency, exploring custom default solutions and strengthening fiduciary processes.Read more >
Administration
IFEBP Offers Tips for Using Behavioral Finance to Boost Retirement Savings Actions
Stressing what can be lost or gained, peer reviews and comparisons and certain plan design features are among the suggestions offered by the International Foundation of Employee Benefit Plans in a white paper.Read more >
Administration
Updating Loan Policies to Discourage Participants from Taking Plan Loans
Changes to maximum loan amounts and number of loans, as well as the imposition of fees and higher interest rates on loans can be written into loan policy statements in an effort to discourage this type of plan leakage.Read more >
Administration
How to Mitigate Participants’ Savings Biases
Experts discuss how plan sponsors can get participants out of retirement savings “ruts” and get them to engage more with their retirement plans.Read more >
Administration
Attention to Retirement Plan Digital Communications Increasingly Important
As the use of digital and mobile technologies for employer-sponsored retirement plans continues to increase, a paper promoted by the Voya Behavioral Finance Institute for Innovation proposes that plan sponsors and advisers have a responsibility to consider websites and mobile applications that encourage better retirement decision-making.Read more >
MOST POPULAR STORIES
2020 Best in Class 401(k) Plans
PLANSPONSOR is pleased to announce the sixth “class” of companies winning the Best in Class 401(k) Plan designation.
Extending Financial Wellness Into Retirement

How can employers ensure financial wellness programs create habits that carry into retirement and address employee concerns about the future?

Reasons Exist to Turn a Cold Shoulder to Company Stock in DC Plans
However, if plan sponsors choose to offer company stock, there are efforts they can take to mitigate a litigation or participant outcomes meltdown.
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.

Friday Files - February 21, 2020

Now it's time for some FRIDAY FUN!

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

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