PLANSPONSOR Weekend Newsdash
Week ending September 6th, 2019
The Employee Retirement Income Security Act (ERISA) requires retirement plan sponsors to act in the best interest of plan participants, not to make decisions to avoid lawsuits. However, lawsuits can offer insights into how to act in the best interest of plan participants. Plan sponsors also need to make sure they understand all the laws affecting their retirement plans—qualified and nonqualified. Guidance from agencies can help plan sponsors with plan administration issues—such as the IRS’ recent guidance about uncashed checks. And, in some cases, state laws guide plan administration and design—especially for K-12 403(b) plans. Enjoy this edition of PLANSPONSOR Weekend!
Editor's choice
Compliance
Groups Urge Supreme Court Not to Undermine Value of Plan Disclosures
They argue that retirement plan disclosures give retirement plan participants the “actual knowledge” required by ERISA, whether participants read them or not, and that an appellate court decision in the Intel case exacerbates the risk of hindsight bias in ERISA cases.Read more >
Compliance
Litigators Share What They Investigate for Filing TDF Lawsuits
A litigation firm has listed what it is investigating for potential lawsuits over target-date funds (TDFs) in retirement plans, and an ERISA attorney makes suggestions for how plan fiduciaries may avoid such suits.Read more >
Compliance
Nonqualified Deferred Compensation Plans and Section 409A
NQDC plan sponsors must understand Section 409A rules to avoid unintended tax consequences and, possibly, participant lawsuits.Read more >
Compliance
IRS Issues Guidance About Uncashed Retirement Plan Distributions
A Revenue Ruling addresses whether an individual’s failure to cash a distribution check received alters the employer’s obligations with respect to withholdings and reporting under the Internal Revenue Code.Read more >
Compliance
State Laws Prevent Single Provider for Some K-12 403(b)s
Yet another law requiring multiple providers for K-12 403(b) plans is reigniting the debate over whether more choice is good or bad for participants.Read more >
MOST POPULAR STORIES
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.

Social Security Administration Announced COLA for 2020

Employees not only need basic education, but they need to know how to include Social Security in their retirement income strategy.

Updating TDFs to Provide Better Retirement Income

Three ideas for a qualified default investment alternative (QDIA) design that will better serve participants ready to retire.

IRS Announces Contribution and Benefit Limits for 2019

The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $18,500 to $19,000.

Plan Participants Have Their Own Responsibilities for Cybersecurity
There are common and advanced approaches retirement plan participants can take to derail data breaches and retirement account fraud.

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

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