Newsdash Insight on Plan Design & Investment Strategy from PLANSPONSOR
December 31st, 2018
Congressional Democrats Continue Push on Butch Lewis Act
The legislation would take steps to provide additional anti-cutback protections for Teamsters, miners, and other unionized American workers who have paid significant sums into multiemployer pension funds. Read more >
IRS Approves a Plan’s Design for Student Loan Repayment Benefits
IRS Private Letter Rulings are directed only to the taxpayer requesting it; however, they can give retirement plan practitioners an idea of what the IRS thinks about plan sponsor decisions or programs. Read more >
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. Read more >
Half of Households Likely to Face a Retirement Shortfall
Looking at whether retirees will be able to replace 75% of their final-year earnings, the Center for Retirement Research at Boston College found the number of households at risk of facing a shortfall range from 42% to 60%. Read more >
Retirees Slow to Draw Down Assets
They are worried about longevity risk. Read more >
Many Retirees Spending More Than They Expected
However, retirees spend 32% less than non-retirees. Read more >
Barnabas Health Latest to Settle ERISA Suit
The Role of the 401(k) in Today’s Tight Labor Market
Excessive Fee ERISA Complaint Targets Cook Group
Retirement Industry People Moves
MITRE Corp. Faces Familiar ERISA Fiduciary Breach Allegations
Sponsored message from MetLife
2017 Stable Value Study
View key findings Read more >
Explaining True-Up Matches
DC plan sponsors may want to offer a true-up match to help participants reach their retirement savings goals. Read more >
Setting Realistic Expectations about Work in Retirement
Twenty-one percent of workers expect that working in retirement will provide them with a major source of income, but this is only true for 9% of retirees. Read more >
Proposed Hardship Withdrawal Amended Regulations Issued by IRS
Under the proposed regulations, 401(k) plan sponsors could choose to make additional accounts available for hardship withdrawals. Read more >
Collective Investment Trusts Versus Mutual Funds
Some experts see CITs gaining big ground in retirement plans; others see mutual funds holding them off. Read more >
Millennials Value Financial Planning as Much as a Bonus
They also believe having an adviser they can trust is important for their financial confidence. Read more >
Finding Money for Both HSAs and Retirement Plans Can Be a Challenge for Employees
Willis Towers Watson suggests portals integrated with financial planning tools can help employees make strategic decisions about where to best save their money based on their unique financial situation. Read more >
Individuals Have Concerns About a Lengthy Retirement
A survey of more than 500 Americans age 55 and older finds the top concern about a lengthy retirement is health care costs and the most significant investment and retirement issue is a desire to maximize retirement income. Read more >
Myths and Realities About Spending in Retirement
Some people are running out of money in retirement, but many are refusing to spend and are living below their means. Are they doing so out of fear, or do they just not need as much? Read more >
Market Mirror
Friday, the Dow declined by 76.42 points (0.33%) to 23,062.40, the NASDAQ rose by 5.03 points (0.08%) to 6,584.52, and the S&P 500 was down by 3.09 points (0.12%) to 2,485.74. The Russell 2000 ticked up by 6.11 points (0.46%) to 1,337.92, and the Wilshire 5000 inched downward by 10.44 points (0.04%) to 25,541.19. The price of the 10-year Treasury note was up 15/32, decreasing its yield to 2.718%. The price of the 30-year Treasury bond was up 21/32, decreasing its yield to 3.025%. WEEK’S WORTH: For the week ended December 28, the Dow rose by 2.75%, the S&P 500 was up by 2.86%, and the NASDAQ gained 3.97%. The Russell 2000 rose by 3.55%, and the Wilshire 5000 gained 3.02%.
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