PLANSPONSOR Weekend Newsdash
Week ending November 3rd, 2017
Happy Friday, PLANSPONSOR readers! This week, we’ll be diving into new plan design and administration strategies. First up, plan sponsors may want to take a look at operational risk as defined contribution (DC) plan sizes continue to bloom. A framework from Segal Marco can help sponsors recognize and manage these risks. Next, learn how to better communicate and engage Millennial workers, since according to L. Rita Fiumara from UBS, 75% of the workforce in 2030 will be made up of this younger generation. Also, did you know that if an employer pays more concern to a worker’s health and well-being, employees will likely be better engaged? As more plan sponsors are incorporating best practices, automatic enrollment, one-on-one counseling sessions and online guidance are seeing an increase; and TIAA recommends suggestions to help plan participants secure a retirement income they can’t outlive. All this and more on this edition of PLANSPONSOR Weekend. 
Editor's choice
DC Plans Need a Framework for Managing Operational Risks
An insight article offers a framework for identifying and managing operational risks, and Julian Regan, with Segal Marco Advisors, says even though the insight is given for public-sector DC plans, it could apply to corporate DC plans as well.Read more >
Different Generations Require Different Communication Strategies
Many of us have probably seen studies or media reports that Millennials are selfish, lazy and narcissistic and live in their parents’ basements. But L. Rita Fiumara from UBS casts some further light on that assessment.Read more >
There Is Value in Ongoing Benefits Education
Employees need help with health and financial benefits year-round, and employees who believe that their employer cares about their health and well-being are more engaged.Read more >
Data and Research
Sponsors Embracing a Wider Array of Best Practices
Plan sponsors continue to embrace best practices when it comes to running their retirement plan, Alight Solutions found in a survey of 333 plan sponsors. Automatic enrollment, higher initial deferral rates and financial counseling are just a few that more employers are adopting.Read more >
Data and Research
Lifetime Income Options Would Help More Americans With a Secure Retirement
TIAA also suggests other options for helping retirement plan participants with retirement readiness.Read more >
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.

The Odds Are Split for Senate SECURE Act Passage This Year

“Overall, it is an uncertain picture, but the SECURE Act is not dead in the water,” says Bradford Campbell, former EBSA head from 2006 to 2009. “I would say it is a little less than 50-50 that it happens this year.”

Pension Risk Transfer Appetite Is Unabated
They are trying other strategies, but DB plan sponsors are concluding that they and their employees would be better served by shifting risks to life insurers.
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.

Why Americans Need the SECURE Act

The president and chief operating officer of Nationwide Financial makes a case for how passage of the SECURE Act will improve Americans’ retirement security.

Editorial: Alison Cooke Mintzer


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