PLANSPONSOR Weekend Newsdash
Week ending October 5th, 2018

When it comes to designing a retirement plan, several sources can impact plan sponsor decisions. Detailed plan and participant analytics can offer insight into plan features that may improve participant chances for retirement readiness. In addition, participant suggestions or complaints may inform plan sponsor decisions. For plan administration, retirement plan providers are useful sources for help. In addition, cybersecurity has risen in importance as a factor in administration. This edition of PLANSPONSOR Weekend offers insight into both plan design and administration.

Editor's choice
Using Detailed Plan and Participant Analytics Can Improve Retirement Readiness
Willis Towers Watson believes plan-wide statistics on mean or median participation rates, balances or contribution rates measure aggregate data on all participants but offer little in the way of insight into retirement adequacy and meaningful benchmarks for individuals or segments of the population. Read more >
Transamerica Offers Suggestions for Further Improving Retirement Security
While defined contribution plans showed resilience during the Great Depression and recovery, more can be done to help participants, Transamerica Center for Retirement Studies says. Read more >
The Perils of Ignoring Participant Complaints
If a plan sponsor fails to respond, they could face a civil and/or Department of Labor (DOL) lawsuit. Read more >
Data and Research
403(b)s Show Improvement in Use of Considered Best Practices
More are using automatic plan features, fiduciary advisers and investment policy statements, the Plan Sponsor Council of America (PSCA) finds. Read more >
Principal to Launch Online Chat for Retirement Plan Administration Questions
The new support option will connect retirement plan sponsors to Principal client service associates in real time throughout their work day. Read more >
Segal Group Recommends Steps for DC Plan Cybersecurity
Among other things, it is recommended that plan sponsors minimize requests for and use of personally identifiable information and review recordkeepers’ security procedures. Read more >
Adidas Sued Over Excessive Fees for 401(k) Participants

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.

(b)lines Ask the Experts – Proper Delivery Method for SPDs
Experts from Groom Law Group and Cammack Retirement Group answer questions concerning 403(b) plans and regulations.
Yale Sued Over Wellness Program ‘Penalty’

The lawsuit says the so-called “incentive” Yale offers for participating in the wellness program are in fact a “penalty” that violates non-participants’ right, and it notes that the Equal Employment Opportunity Commission (EEOC) withdrew the incentive portions of its wellness program rules.

Employees in Two States Miss Out on One HSA Benefit
Is this impacting health savings account (HSA) participation?
Some Help for Women’s Retirement Savings Gap May Be Coming

Some legislative proposals, such as the SECURE Act, may address challenges to retirement income adequacy women face, but there are also things retirement plan sponsors can do.

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

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