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ICYMI - Monday, Mar 2, 2020
Recent News you May Have Missed
Standard ‘Deviation?’: Supremes Rein In ‘Actual Knowledge’ Standard
In a unanimous ruling, the nation’s highest court says you don’t need more than a dictionary to know the meaning of “actual knowledge” when it comes to participant awareness regarding 401(k) disclosures.
Cross Purposes: Another Excessive Fee Suit Settles for More Than Money
The terms of an excessive fee suit settlement involving the law firm of Schlichter Bogard & Denton have been revealed—and once again, it involves more than money. Specifically, it limits the ability of the current recordkeeper to cross-sell participants unrelated services without permission.
Lose List: Americans lose $5.7 billion each year to 401(k) and IRA early withdrawal fees—here's where that money goes.
Here’s a look at what happens when do you opt to take funds out of your retirement account early.
‘Executive’ Branch?: Executive Retirement Plans Need Better Oversight, GAO Says
The IRS and the Department of Labor should strengthen their oversight of executive retirement plans, the Government Accountability Office says in a recently released report.
‘Step’ Letters: Laid Off Before You’re Ready To Retire? Follow This 10 Step Checklist
A study conducted in December 2018 by researchers at ProPublica and the Urban Institute found that more than 50% of workers “experience an employer-related involuntary job separation after age 50.”
PSCA In the News
- Investing Health Savings Account Assets
- Say Hello to the ‘Retirement Tier
- Adoption of some 401(k) plan features are leveling off
- Sanders Takes Aim at Deferred Compensation
- Roth 401(k)s are more prevalent—and popular—than ever. But is that good—or bad—for retirement?
- Retirement in Brief: The Latest News and Research
National Conference Notes
Nonqualified deferred compensation plans are in the headlines again – and this could be a great optional plan for your workforce. But what do you do if you don’t know where to start? Attend PSCA’s National Conference.
Did You Know? The PSCA National Conference offers up to 11 CE credits (555 minutes of education), including two (2) CE credits for ethics. Find out more at https://pscalearn.org.