Week ending August 25th, 2017

NOTE FROM THE EDITOR

Happy Friday, readers! This weekend’s mailing focuses on the topic of Health Care and Other Benefits that remain top-of-mind for plan sponsor clients. Our adviser readers may focus on 401(k) plans and pensions, but the stories below demonstrate the important intersections of health and wealth.

Health Care and Other Benefits

Couples’ Retirement Health Care Cost Projections Approach $300K

One Fidelity benefits consulting executive describes the inflation in retiree health care expenses as insidious and unrelenting. Read more >

Fiduciary Reforms Will Impact Expanding HSA Market

The DOL fiduciary rule expansion establishes ERISA fair dealing requirements in the sale and service of health savings accounts; employers have a lot of questions about what this means. Read more >

Benefits Programs Integrating Health and Financial Wellness

Providers are redesigning benefits programs to focus on health, financial wellness, job satisfaction and productivity. Read more >

Majority of Small Businesses Do Not Offer Retirement, Health Benefits

Seventeen percent of respondents to a survey by Paychex said they did not see the need to offer retirement benefits to their employees. Read more >

Sponsors Think ‘Rothification’ of 401(k)s Would Deter Participation

This is according to a survey by the Committee on Investment of Employee Benefit Assets Inc. of its members. Read more >

Student Loan Assistance Trumps 401ks for Many Employees

However, the CEO of IonTuition says employees need to take a balanced approach to plan for their future and deal with immediate needs at the same time. 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.

Coronavirus Hardship Withdrawals, Taxes and Your Retirement Plan Clients

Coronavirus-related withdrawals made in 2020 were a financial lifeline for some, but they could also turn into a major tax headache for others.

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.

Many Near-Retirees Don't Understand Social Security Benefits

More than one-third failed a basic Social Security quiz administered by MassMutual.

The Most Common Retirement Plan Testing Mistakes

By alerting plan sponsors to the issues they see most often, advisers can help their clients navigate IRS testing rules.

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