PLANSPONSOR Weekend Newsdash
Week ending March 3rd, 2017
Happy Friday, PLANSPONSOR readers! The big news this week is we announced our 2017 Service Stars award winners. We also learned that many participants have an incorrect view of their retirement readiness, and they are not prepared for the expected lower-return environment. The Pension Benefit Guaranty Corporation (PBGC) Director again warned of the failing of the agency’s multiemployer program, and speakers for a webinar provided suggestions for making wellness programs more personal. All this and more in this edition of PLANSPONSOR Weekend. Thanks for reading!
Editor's choice
Deals and People
2017 PLANSPONSOR Service Stars Recognize Account Rep Excellence
PLANSPONSOR is pleased to announce the 2017 winners of its Service Star award program, recognizing retirement plan account reps and relationship managers who have, based on descriptions provided by plan sponsor clients, demonstrated exemplary service over the past year. Read more >
Compliance
Benefit Cuts Could Hit More Than One Million Multiemployer Plan Members
PBGC Director Tom Reeder warned of this in an announcement that the agency is providing assistance to yet another multiemployer plan. Read more >
Participants
Plan Sponsors, Participants Not Prepared for Lower Returns
Forecasts suggest that stock and bond returns could be half that of recent decades, yet, 66% of workers believe that over the next decade, returns on their savings will continue to be in line with what they have experienced in the past, a BlackRock survey found. Read more >
Data and Research
More Than Four in Ten Households Wrong About Retirement Readiness
Nineteen percent of households who are at risk for being financially unprepared in retirement feel they are not at risk, while 24% of households who are not at risk, feel they are at risk, according to research from the Center for Retirement Research at Boston College. Researchers suggest more education could help. Read more >
Benefits
Evolving Your Health Wellness Program
Speakers for a webinar provided ideas for making wellness programs more personal for employees. 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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