Willis Towers Watson Insider covers health care and retirement benefit regulations, case law and policy, along with historical trends and future directions. This issue focuses on the legislative outlook for health care and retirement benefits, and looks at asset allocations in pension plans for 2017, finding a long-term trend toward more conservative investing. Recent guidance from the IRS clarifies the universal availability requirement in the 403(b) plan regulations and provides relief for sponsors that wrongly excluded part-time workers. The IRS also released the 2019 limits for retirement plans qualified in Puerto Rico.
Health care costs, especially the escalating cost of prescription drugs, have become a bipartisan priority for Congress and the White House. Read more.
The percentage of plan sponsors with more than 50% fixed income and cash in their pension portfolios rose from 17% in 2009 to 40% in 2017. Read more.
The guidance announces a once-in-always-in interpretation of the section 403(b) exclusion for part-time employees. Read more.
Sponsors of dual-qualified plans and plans qualified solely in Puerto Rico should update their administrative processes and systems to reflect the 2019 limits. Read more.