Week ending March 31st, 2017

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!

Editor's choice

Awards

Find Out the Winners of Our Retirement Plan Sponsor of the Year Awards

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.Read more >

Compliance

High Court Hears Oral Arguments in Church Plan Cases

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.Read more >

Compliance

Senate Votes to Overturn DOL Rules on Government-Run Retirement Plans

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.Read more >

Compliance

Fiduciary Rule Delay Under Final Review

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.Read more >

Benefits

How to Encourage HSA Use

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?Read more >

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2020 Recordkeeping Survey

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It’s important for plan sponsors to define plan goals and what they are going to measure, and the defined metrics should be things they can influence.

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Data on number of plans, participants and liabilities by nonqualified plan type, and a listing of the largest providers of section 409A plans and section 457 plans.

CARES Act Considerations: CRDs, RMDs, Taxes and More

Between retirement reforms first created by the SECURE Act and then updated by the CARES Act, there is a lot of confusion about required minimum distribution deadlines and the tax treatment of coronavirus-related hardship withdrawals.

Settlement Reached in Insperity 401(k) Excessive Fee, Self-Dealing Suit

Among other things, the lawsuit accused Reliance Trust Co. of selecting funds for the plan that would benefit itself.

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

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