Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
July 13th, 2015
Indemnification Clauses and Provider Contracts
While it is important for plan sponsors to realize that indemnification clauses are helpful protections, they are not “exculpatory provisions” that eliminate sponsors’ fiduciary liabilities, says Fred Reish, chair of the Financial Services ERISA practice at Drinker, Biddle & Reath. Sponsors still need to take steps to meet their fiduciary responsibilities when entering into a contract with a service provider. Read more >
Retirement Shortfalls and Cooler Markets
Why are older Americans’ retirement income shortfalls everyone’s problem? A survey from the CFA Institute and Mercer finds a lack of retirement income could put a drag on capital markets over the five years (and likely longer), driving financial stress for individuals and entire economies. Read more >
IRS Halts Certain Lump-Sum Offerings
Effective July 9, defined benefit plan sponsors may no longer offer a lump-sum window to participants who have reached age 70 1/2 and are receiving installments. Read more >
Report Rounds Up Retirement Reform Needed
A working group established by the Senate Committee on Finance shows support for a number of proposals to reform the American retirement savings system. Read more >
MOST READ ARTICLES
1
Tax Bill Passed By Senate Backs Off 457(b), 403(b) Plan Changes
2
Education on Lifetime Income Needed in Not-for-Profit Sector
3
Pass-Through Tax Reform Impact on Small Businesses May Be Mitigated via Roth
4
Congressional Democrats Continue Push on Butch Lewis Act
5
Average Worker Will Pay More Than $150K in 401(k) Fees
Sponsored message from Guardian
What’s Working & Not Working for 401(k) Small Plan Participants
The Guardian Small Plan 401(k) RetireWell Study 2.0 explores trends and challenges in retirement planning and income. Working Americans expect 401(k)s to provide primary source of retirement income, but lack of education creates missed opportunities. Download the free study to learn more. Read more >
Connecticut Extends Retirement Asset Protections
The Governor of Connecticut signed legislation aimed at expanding protections for retirement assets against creditor claims. Essentially all retirement plan assets are protected under the new law. Read more >
DOL Seeks Independent Fiduciary for Abandoned Plan
The plan’s recordkeeper refused to make distributions after the former plan fiduciary changed each participant’s address to his own. Read more >
Bank of America Merrill Lynch Launches Longevity Training
Today, at the 2015 White House Conference on Aging, Bank of America Merrill Lynch will announce the introduction of a longevity training program for human resources and benefit plan professionals. Read more >
Maine RIA Issues eBook on TDF Best Practices
Guidance Point Retirement Services, a registered investment adviser in Bangor, Maine, has issued “Navigating the Target-Date Fund Evaluation Process,” an e-book for defined contribution plan sponsors containing best practices for evaluating and selecting a target-date fund series for their participants. Read more >
Financial Wellness Firm Rolls Out Voluntary Option
A financial wellness vendor, Four Seasons Financial Education, has introduced a voluntary option to its corporate financial wellness programs. According to FSFE, this offering is the first of its kind in the U.S. and gives employers an alternative to traditional programs for which plan sponsors generally cover the cost. Read more >
Newport Group Expands BOLI/COLI Business
The Newport Group, Inc. and its affiliates will be acquiring the Greensboro, North Carolina, operations of Clark Consulting LLC, and its broker/dealer Clark Securities Inc. Read more >

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

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

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