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December 20, 2016

Mercer Suggests Areas for DC Plan Review

Plan design, investments, fees, financial wellness and the DOL’s fiduciary rule are all things defined contribution (DC) plan sponsors should consider going into the New Year.Read more >


Policy Proposals Could Help Hispanic Workers’ Retirement Outcomes

Hispanics face steeper retirement income challenges than other ethnic groups. A report from the Urban Institute finds shortfalls in earnings and workplace retirement plans earlier in life likely account for much of the financial hardship that many older Hispanics face in retirement. The report offers policy proposals for improving Hispanics’ retirement security.Read more >


Municipally Sponsored IRAs Granted Safe Harbor

The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) revealed a final rule to assist large cities and other political subdivisions as they establish payroll deduction individual retirement account (IRA) savings programs for workers who do not have access to workplace savings arrangements. The rule adds to and amends a similar rule related to state-based savings initiatives published earlier in 2016.Read more >

Ask the Experts
Discovering an Excess Deferral in the Year of the Excess

I just discovered that our CEO exceeded the Internal Revenue Service (IRS) 402(g) elective deferral limit to our 403(b) plan by a few hundred dollars. The deferrals have already been deposited into her account with the recordkeeper. Since 2016 has not ended as yet, can I simply request the money back from the recordkeeper and arrange for our payroll department to fix her W-2 so that the proper deferral amount is shown?”Read more >

David Levine and David Powell, with Groom Law Group, and Michael A. Webb, VP, Retirement Plan Services, Cammack Retirement Group, will field your questions concerning 403(b) plans and regulations. rebecca.moore@strategic-i.com with Subject: Ask the Experts. Answers may be printed in future (b)lines. This feature is to provide general information only, does not constitute legal advice, and cannot be used or substituted for legal or tax advice.


TIAA Hires New President

Vijay Advani has joined TIAA Global Asset Management as the firm’s new president and chief operating officer. Advani will lead global distribution as well as drive technology and analytics initiatives for portfolio management and product development. He will also lead management committees charged with ensuring the firm continues offering a client experience that integrates distribution, solutions and marketing.Read more >


Time to Remind Participants of Saver's Tax Credit

The Internal Revenue Service (IRS) reminds low- and moderate-income workers that they can take steps now to save for retirement and earn a special tax credit in 2016 and years ahead. The so-called Saver’s Credit helps offset part of the first $2,000 workers voluntarily contribute to individual retirement accounts (IRAs) and defined contribution (DC) workplace retirement programs.Read more >


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Editorial: Rebecca Moorerebecca.moore@strategic-i.com
Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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