PLANADVISER Weekend Newsdash
Week ending February 21st, 2020

Happy Friday, readers! This weekend’s mailing is centered on the timely topic of emergency savings and holistic financial wellness. Skilled retirement plan advisers know that long-term financial success begins with short-term economic stability. Armed with such knowledge, some advisers and their plan sponsor clients are pushing into the areas of emergency savings accounts, debt counseling, tax-advantaged health care savings and more. Collected below is a series of informative articles on these topics. We hope you will share some of what you read with a client or colleague.

Editor's choice
The Case for Automated Emergency Savings Accounts
They are seen as a hedge against retirement plan participants taking loans or hardship withdrawals. Read more >
The Price Tag of Financial Stress
Employers are accustomed to having five generations in the workforce, but they now need to focus on the new expectations Gen Z brings to the workplace, Fidelity says. Read more >
Record Low Unemployment Spotlights Benefits Generosity
Generous and well-designed employee benefits are even more essential when the unemployment rate dips well below 4%—and so is cultivating a sense of trust and inclusion among the workforce. Read more >
The Way to Help Individuals Plan for Retirement Health Costs
Start by presenting health care expenses rationally, as a combination of predictable monthly expenses (insurance premiums) that can be budgeted for, and less predictable expenses (out-of-pocket) that can be managed from savings, a report from T. Rowe Price suggests. Read more >
Limited 529 Plan Knowledge Holds Savers (and Advisers) Back
Educating people about the plans is important, as a recent Edward Jones survey found that only 29% of Americans know what the purpose of these plans are. Read more >
The Positive Impact of Claiming Social Security Later
The Center for Retirement Research says the reduction for claiming early is currently too large while the increase for claiming late is about right. Read more >
MOST POPULAR STORIES
Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

The Inside Take: CAPTRUST’s Cammack Acquisition

With the acquisition of Cammack’s $154 billion book of business, CAPTRUST now reports assets in excess of $600 billion; one leader at the firm says the growth is nowhere near finished.

Practice Management: Areas of Success

A look at what worked particularly well in 2020 and that could keep propelling growth in 2021.

NFP Named in ERISA Lawsuit Alongside Plan Sponsor

Much of the text of the complaint is dedicated to detailing the reduction in the average fees paid by large U.S. retirement plans for both investments and administrative services.

Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
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