Happy Friday, PLANSPONSOR readers! A big thanks to all who attended our Awards for Excellence Dinner last night; it was a great event! At the event, we finally announced the winners of our 2017 Plan Sponsor of the Year awards. In this week’s news, the Supreme Court heard arguments in three cases challenging a pension plan’s ‘church plan’ status; the fate of government-run retirement plans for private-sector workers is in flux, now that both the House and Senate have approved resolutions to pull back Department of Labor (DOL) rules about them; and the fiduciary rule delay is under final consideration. Also, experts share suggestions for encouraging participants to use health savings accounts (HSAs). All this and more in this edition of PLANSPONSOR Weekend!
The winners of the 2017 PLANSPONSOR Plan Sponsor of the Year awards show a commitment to their participant’s financial health and retirement success, and are leaders in their respective categories. All maintain best practices in plan administration, with outcomes for others to emulate.
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The bulk of the oral arguments focused on the definition of a church plan set forth in Section 3(33) of ERISA and whether deference should be given to Internal Revenue Service (IRS) letters granting church plan status to entities’ plans.
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The Senate has voted to overturn Department of Labor (DOL) rules that help state and local governments set up retirement savings plans for private-sector workers who have no access to such plans, according to news reports.
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Experts warn that plan sponsors may face their own set of challenges if and when the DOL fiduciary rule is overturned by the new administration.
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More and more, employers and retirement plan providers are touting HSAs as a way to save for health care costs in retirement, but what is impeding employees from using them more?
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Share the news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.
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Senate floor time is at a premium ahead of the 2020 presidential election—so much so that even legislation that passed the House with a near-unanimous bipartisan vote is not guaranteed to become law.
Plaintiffs in the lawsuit argue that passive funds would have resulted in better returns net of fees that the actively managed funds offered in the plan.
If legislation passes to allow for open multiple employer plans (MEPs) for plan sponsors without a common nexus, experts believe they will offer benefits to plan sponsors, but there would be some considerations to explore before joining one.
