PLANSPONSOR - April/May 2020 - 4

ISSUE INTRO
Well-Being
Considerations
W
henever the lights come back on at businesses
across the different areas of the
U.S., retirement plan sponsors will need
INSIGHT ON PLAN DESIGN & INVESTMENT STRATEGY
APRIL - MAY 2020 | $29 | PLANSPONSOR.COM
Plan Sponsor of the Year Finalists
DB Administration Survey
Service Stars
to take stock of where they stand in the pandemic's
aftermath. They will need to work closely with their
plan adviser and recordkeeper to, for instance, review
current data to learn how participants' financial
health has fared, or how the plan's target-date fund
(TDF) family held up to market volatility-does it
need to be re-evaluated, and do they possibly need
to make some hard decisions? In " The Road Ahead "
(page 18), our cover story this issue, Judy Ward talks
to industry experts, whose pointers should guide the
way to getting your plan back on track.
It goes without saying that how employees and their families are doing physiTHE
ROAD
AHEAD
What
plan sponsors
should evaluate once the
immediate crisis ends
cally, emotionally and financially will be top of mind for most employers.
Plan sponsors will need to decide which, if any, provisions of the Coronavirus
Aid, Relief and Economic Security (CARES) Act they want to adopt for their participants-and
make sure participants fully grasp the impact that taking coronavirusrelated
distributions (CRDs) would have on their retirement readiness. In " Staying
the Course " (page 48), Beth Braverman talks to advisers, who make key suggestions
for how employers and their advisers can help participants stay calm and find
other sources of emergency money than their defined contribution (DC) account. In
ERISA Examination (page 50), Summer Conley and Michael Rosenbaum discuss
one lesser-known option, Internal Revenue Code (IRC) Section 139.
With that said, in " It Takes Two " (page 46), John Keefe expounds on how
the turmoil brought to the financial markets, combined with the Setting Every
Community Up for Retirement Enhancement (SECURE) Act, has given sponsors
an opportune opening. The sponsor, and its provider, can remind participants
about the importance of lifelong income and the types of retirement income solutions
it may offer in-plan. Unfortunately, plan sponsors have not been doing much
to inform participants about this benefit.
What we can celebrate are the PLANSPONSOR of the Year (PSOY) finalists
(page 26). Each year, we are blown away by the efforts and/or accomplishments of
all of the nominees for these awards. Here, we give you a glimpse of what makes
these plans shine, including their specifications. Full versions of the finalists'
plan profiles can be found at PLANSPONSOR.com/awards. The winners will be
announced later this year and profiled in our subsequent issue.
Lastly, PLANSPONSOR's Brian O'Keefe, research director extraordinaire, and
Angela Marinakis, senior manager research, give us " A Lesson in Fine Tuning "
(page 22). The 2020 Defined Benefit (DB) Administration Survey, as well as the
PSOY finalists that offer these plans, show how pension schemes still are relevant.
Be well and, if you have a minute, let us know how things are going.
-Judy Faust Hartnett, Managing Editor
4 PLANSPONSOR.COM April - May 2020
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PLANSPONSOR - April/May 2020

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