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May 2nd, 2023 Information & Insights for the 403(b) Community Inflation, Depleted Savings Dent Workers’ Confidence as Financial Literacy Remains Low Many American workers lack an understanding of their retirement plan investing options and do not use plan providers as an information resource, new data from EBRI and TIAA show.  Bakery Driver, Newspaper Guild Plans Receive SFA Funds The PBGC provided SFA assets to two soon-to-be-insolvent pensions, one from New Jersey and one in Pennsylvania. Ask the Experts Can A Church 403(b) Plan Require Employees to Use Roth Catch-Ups? We are a large denominational church that sponsors a 403(b) plan for our member churches, but there is no centralized payroll system. Thus, it would be impossible for us to administer the new $145,000 rule for Roth catch-up deferrals under the SECURE 2.0 Act of 2022, since we have no idea what churches pay their individual employees. Instead, could we simply require that ALL employees utilize Roth for their catch-up elections? ERISA Lawsuit Against NJ Transit Authority Dismissed The 3rd Circuit Court of Appeals upheld a District Court ruling that government plans are not covered by ERISA. Did someone forward you this newsletter? Sign up here to get (b)lines directly in your mailbox! Unsubscribe | Manage Subscriptions | Contact Us Copyright ©2024 Asset International, Inc. All rights reserved. No reproduction without prior authorization. Modern Slavery Statement 2022 | Do Not Sell My Personal Information | Privacy (including cookies), Social Media & Legal 702 King Farm Boulevard, Suite 300, Rockville, MD 20850