Important 403(b)/457(b) News
Commonwealth Annuities is rebranded as Global Atlantic (issued by Commonwealth Annuity) in August 2016 (9/12/2016)
In August 2016, Commonwealth Annuities officially rebranded to Global Atlantic Financial Group. On the CCC website and in the 403(b) vendor lists of employers offering this vendor as a payroll slot they will be listed as Global Atlantic (issued by Commonwealth Annuity). While the name change will appear on marketing materials and the website has been moved to globalatlantic.com, contact information and remittance information will remain unchanged and remittance checks should continue to be made out to Commonwealth. An announcements sent to TPAs on this matter is available here.
Conseco Fair Fund Settlement Checks (8/22/2016)
This month many employers sponsoring 403(b) plans and some plan participants have received checks from the Conseco Fair Fund Administrator related to an SEC settlement concerning market timing issues that occurred December 1999 through October 2002. If you are an employer and CCC Client who received one or more settlement checks, please contact us for assistance with this matter. Participants receiving these checks should visit the Conseco Fair Fund Administrators FAQ page for information and options concerning how to handle the check you have received.
The U.S. Department of Labor Finalizes New Rules Concerning Fiduciary Advice (4/6/2016)
The DOL has finalized revamped rules regarding advice regarding retirement accounts in specific situations. These new rules are currently being reviewed, CCC will provide an FAQ once we have reviewed the available information and conferred with experts in our industry on the impacts to the 403(b) and 457(b) market.
Contribution Limits Remain Unchanged for 2016 (10/21/2015)
The IRS has published Pension Plan Limitations for 2016. Click here to review the IRS's news release or here to review the IRS COLA Dollar Limitations on Benefits and Contribution Chart. Please visit CCC's Contribution Limits page for additional information.
Life Insurance of the Southwest is rebranding to National Life Group in November 2015 (10/7/2015)
In November 2015, Life Insurance of the Southwest will officially rebranded to National Life Group. An announcements began circulating in September 2015, you can view a sample letter with relevant information here.
First Investors is now Foresters Financial (7/2/2015)
In September 2015, employers and participants will begin to see that First Investors rebranded to Foresters Financial. An announcement with FAQs was sent to TPAs (like CCC) in July, this letter is available here.
Great-West Financial is now Empower Retirement (4/21/2015)
As of February 2nd, 2015 Great-West Financial rebranded to Empower Retirement. An announcement with FAQs is available here.
Primerica announces a change to their remittance processing (2/26/2015)
Primerica Shareholder Services has announce that Franklin Templeton will no longer process remittance, future contributions are to be sent directly to Primerica at the address provided in the notification available here.
Contribution Limits Increase for 2015 (10/23/2014)
The IRS has published Pension Plan Limitations for 2015. Click here to review the IRS's news release or here to review the IRS COLA Increases for Dollar Limitations on Benefits and Contribution Chart. Please visit CCC's Contribution Limits page for additional information.
To view older news items pertaining to 403(b) and 457(b) plans, please visit our Important 403(b)/457(b) News Archive.