PLANADVISER Weekend Newsdash
Week ending October 23rd, 2020

Greetings loyal PLANADVISER readers. The focus of this weekend’s mailing is health care and retirement—a topic that is clearly on many peoples’ minds. Even before the outbreak of the coronavirus pandemic earlier this year, retirement plan advisers were growing increasingly focused on the links between physical wellness and financial wellness. Collected below is a series of articles and reports on just that. We hope you find our reporting useful and consider sharing some of what you read with a client or colleague. Stay well!

Editor's choice
Facts You Haven’t Learned About HSAs
One overlooked benefit of HSAs is that people can actually spend money on qualified health care expenses out of pocket and then reimburse themselves tax-free via the HSA once they enter retirement.  Read more >
Planning for Clients’ Health Care Expenses in Event of a Layoff
Mark Waterstraat, president of consumer solutions at Alegeus, offers simple steps to coach clients through managing their health care finances after a layoff. For example, did you know that individuals can use HSA funds to pay COBRA premiums tax-free? Read more >
An Eye-Opening Millennial Q&A
Kevin Boyles at Millennium Trust says companies have been responding to the pandemic with exceptional agility—driven in no small part by the expectations of their Millennial workers. Read more >
Employers Face High Health Care Benefit Costs for 2021
Many are already implementing strategies to drive down expenses. Read more >
Considering Health Expenses in Retirement Planning
To start off the panel, attendees were asked whether they currently offer a high-deductible health plan (HDHP) with an added HSA feature in their plan design. Seventy percent answered yes, while 10% said no but that they are considering one, and 19% stated they do not and are not planning on adding one. Read more >
Supporting Financial Wellness in the New Workplace
Financial wellness has taken on a new relevance in the midst of the COVID-19 pandemic. Experts share tips on how advisers can figure out how to offer access to best-in-breed programs to enrich overall benefits programs and participant outcomes. 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.
Judge Finds Participant Data Is Not a Plan Asset in Case Against Fidelity

As part of an excessive fee lawsuit against Shell Oil, Fidelity was named as a defendant and accused of breaching its fiduciary duties by sharing participant data with affiliates for solicitation of other products.

Many Near-Retirees Don't Understand Social Security Benefits

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

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.
rss icon twitter icon linkedin-in icon facebook icon
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2021 Asset International, Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850