PLANADVISER Weekend Newsdash
Week ending January 26th, 2018

Happy Friday, readers! This weekend’s mailing focuses on the topic of Health Care and Other Benefits—in particular on the important and evolving subjects of health savings accounts, Social Security optimization, and NQDC plans. Elite advisers will already know how important it is to be able to converse about these subjects fluently and confidently with clients. We hope you enjoy reading and that you share some of what you learn with a client or colleague.

Health Care and Other Benefits
Planning for Medicare Premiums and Drug Costs Is a Difficult Fact of Life
A new EBRI analysis suggests some couples retiring in the near future could need as much as $370,000 in dedicated savings just for medical care; small wonder to see workers are hungry for advice on managing Medicare premiums and drug costs. Read more >
Checking in With Verizon Pensioners Post Risk Transfer
PLANADVISER interviewed a spokesperson for a large group of Verizon retirees back in 2015, shortly following their defeat in appellate court in a case challenging the merits of pension risk transfers; we catch back up with Jack Cohen to talk shop and ask, how have things been going post annuitization? Read more >
With Participation Rates Flat, NQDC Plan Sponsors Make Adjustments
Participation rates were notably higher in NQDC plans offering matching contributions (60%), while plans not offering a company contribution had an average participation rate of 37%. Read more >
Few Employees Using HSAs as Retirement Savings Vehicles
But, employees younger than 25 and older than 65 are more likely to say they try to save/invest their HSA funds, a survey finds. Read more >
Fearing Health Care Costs in Retirement
While most people say they want to live to the age of 90, only 27% of pre-retirees ages 50 and older feel financially prepared to fund a retirement that lasts 10 years, let alone 20 to 30 years, or even longer.  Read more >
Boomers Expect to Rely Heavily on Social Security in Retirement
Thirty-eight percent of middle-income Baby Boomers—those with a household income between $30,000 and $100,000 and less than $1 million in investable assets—expect Social Security will be their primary source of income in retirement, up from 30% before the financial crisis of 2008, according to a study by the Bankers Life Center for a Secure Retirement. Read more >
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What Is a DOL Adviser Investigation Like?
The number of Department of Labor investigations of financial advisers has steadily increased over the years; here is a primer on the DOL’s sources of authority, and what to expect when examiners come knocking.
Managed Account QDIA Mechanics Challenge Plan Sponsor Clients
ERISA attorneys and plan design consultants say they are hearing more questions from sponsors about using managed accounts as a plan’s default investment, but the most common use case remains opt-in managed accounts.
Assessing Likely Impacts of IRS Hardship Withdrawal Rule Changes
New rules established by Congress and the IRS simplify the process for participants to request a hardship withdrawal of DC plan assets; some experts say this could increase “leakage,” while others anticipate more positive effects, such as lower debt among cash-strapped participants.
Court Returns Mixed Ruling in Schwab ERISA Self-Dealing Suit

The detailed ruling comes after Schwab defendants moved to dismiss in part the plaintiff’s second amended complaint. 

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

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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