ACOPA

Pension Plan Administrator
HUB International Limited
in LA

Actuary
Pentegra Retirement Services
in NC

Internal Sales Consultant
Pentegra Retirement Services
in ANY STATE, NC, NY

Post Your Job

View All Jobs

RSS Feed: All Jobs

New Employer Reporting Requirements
August 12, 2015 in TX
(Worldwide Employee Benefits Network [WEB] - Houston Chapter)

All-Day Seminar With Sal Tripodi
August 25, 2015 in IN
(ASPPA Benefits Council [ABC] of Northern Indiana)

Supreme Court Decisions on the Affordable Care Act and Same-Sex Marriage: What Do They Mean for Your Health Plans?
August 26, 2015 in IL
(Worldwide Employee Benefits Network [WEB] - Chicago Downtown Chapter)

Employer-Sponsored Health Coverage Information Reporting Requirements for Applicable Large Employers
September 10, 2015 WEBCAST
(IRS [Internal Revenue Service])

2015 Fall Conference
September 30, 2015 in MA
(Council of Institutional Investors)

Fall Workshop
October 1, 2015 in MA
(ASPPA Benefits Council [ABC] of New England)

23rd Annual Conference & Exhibition
October 27, 2015 in CA
(National Association of Stock Plan Professionals [NASPP])

View All Webcasts and Conferences

[Official Guidance]

Text of PBGC Form 200 Instructions: Notice of Failure to Make Required Contributions (PDF)
[Must be used for reports due on or after September 1, 2015.] "The Form 200 instructions and Form 200 have been changed to: [1] Streamline the form to two pages and modify the form to look more like the Form 10 and Form 10-Advance. [2] Remove information items PBGC can obtain publicly such as Form 5500s and documents filed with the Securities and Exchange Commission. [3] Add a requirement to state the reason for a late contribution so PBGC can better understand the underlying financial health of the sponsor and reasons for missing payments. [4] Add an Appendix to these instructions that provides an example of how to describe the aggregate outstanding balance of required funding payments, including interest." (Pension Benefit Guaranty Corporation [PBGC])  

[Advert.]

Practical Law – Exclusive Offer for BenefitsLink Subscribers

Whether you're a new attorney or a seasoned practitioner, Practical Law provides the resources needed to help you work smarter and faster. Our Employee Benefits and Executive Compensation covers topics including retirement plans, health & welfare plans and executive compensation arrangements. Learn more.

[Official Guidance]

Text of PBGC Form 10-Advance Instructions: Advance Notice of Reportable Events (PDF)
[Must be used for reports due on or after September 1, 2015.] "The Form 10-Advance instructions and Form 10-Advance have been changed to: [1] Remove information requirements that PBGC no longer needs or can gather from public sources. [2] Require that additional supporting information be provided (e.g., event date, notice due date, filing date, and why a filing is late, if applicable). [3] Require additional information relating certain events (e.g., plan document and determination letter for liquidation events). [4] Provide enhanced instructions on the type of actuarial information required to be submitted. [5] Notify filers that they should expect a request for additional information promptly after filing a Form 10-Advance. Filers may choose to include the additional information with the Form 10-Advance filing. [6] Require a signature and certification on the Form 10 as to the completeness and accuracy of the contents of the filing." (Pension Benefit Guaranty Corporation [PBGC])  

[Official Guidance]

Text of PBGC Form 10 Instructions: Post-Event Notice of Reportable Events (PDF)
[Must be used for reports due on or after September 1, 2015.] "The Form 10 instructions and Form 10 have been changed to [1] Remove information requirements that PBGC no longer needs or can gather from public sources. [2] Require that additional supporting information be provided (e.g., event date, notice due date, filing date, and why a filing is late, if applicable). [3] Require more description of the pertinent facts relating to an event (e.g., reason for a late contribution). [4] Provide enhanced instructions on the type of actuarial information required to be submitted. [5] Require a signature and certification on the Form 10 as to the completeness and accuracy of the contents of the filing." (Pension Benefit Guaranty Corporation [PBGC])  

[Guidance Overview]

IRS Employee Plans News 2015-9, July 31, 2015
[Here is the full text of the document:] [1] "The IRS and Treasury intend to amend the minimum distribution regulations for defined benefit plans to generally prohibit the replacement of ongoing annuity payments with a lump sum payment or any other form of accelerated payment. [2] Employee Plans email questions -- Beginning October 1, Employee Plans will no longer accept technical questions through email or from Customer Account Services. [3] Changes to the Employee Plans Determination Letter Program -- Starting in 2017, the IRS will eliminate the staggered remedial amendment cycles and limit the scope of the determination letter program for individually designed plans." (Internal Revenue Service [IRS])  

[Guidance Overview]

IRS Pulls Determination Letter Program, Puts Premium on Plan Assessments by Sponsors
"Prior to this change, it was relatively easy to correct errors in plan amendments -- as the IRS allowed sponsors to retroactively fine-tune their amendment language, and even adopt new retroactive amendments in certain cases, during the determination letter review process. This flexibility is now gone under the new system, and it will be more important than ever to adopt carefully drafted legally-required amendments on time. Otherwise, [EPCRS] will be the only alternative for fixing plan document errors retroactively." (Orrick)  

Text of Ninth Circuit Opinion: Unpaid Company Contributions to Multiemployer Plan Were Dischargeable in Personal Bankruptcy of Company Owner (PDF)
"Agreeing with the Sixth and Tenth Circuits, the panel held that [Gregory Bos, the owner of a company participating in a multiemployer welfare plan,] was not a 'fiduciary' under 11 U.S.C. Section 523(a)(4) when he failed to make contractually required contributions to an employee benefits trust governed by [ERISA]. The panel declined to recognize an exception to the rule that unpaid contributions by employers to employee benefit plans are not plan assets, even though other courts had recognized an exception when the plan document expressly defines the fund to include future payments." [Bos v. Board of Trustees, No. 13-15604 (9th Cir. July 30, 2015)] (U.S. Court of Appeals for the Ninth Circuit)  

Improving Outcomes with Electronic Delivery of Retirement Plan Documents (PDF)
54 pages. "[P]lan participants are aware of the many potential benefits of electronic delivery and they overwhelmingly find it acceptable to make electronic delivery the default method of delivering of plan information. Besides reducing costs (with savings significantly passed through to plan participants), electronic delivery provides an efficient and reliable means of communicating important plan information, which facilitates superior participant outcomes. This White Paper examines the many rationales for allowing plan sponsors to make electronic delivery the default method for communicating with retirement plan participants." (Quantria Strategies, for The SPARK Institute)  

New ACL Program to Improve Education and Financial Literacy Regarding Rollover of Retirement Accounts
"ACL's National Resource Center on Women and Retirement Planning -- operated by the Women's Institute for Secure Retirement (WISER) -- is partnering with the Retirement Clearinghouse (RCH) on a pilot to effectively reach and educate low- and moderate-income workers about the importance of rolling over their retirement savings in order to prevent adverse consequences common in today's mobile workforce. RCH has the means and technology to automatically transfer small plan balances from a worker's current plan into their next employer plan.... If fully taken to scale, it is estimated to keep over $1 trillion in retirement accounts for American workers over the next ten years." (Administration for Community Living)  

Pension Plan Funded Status Rises Due to Liability Decreases in Q2 2015 (PDF)
"During the second quarter of 2015 (Q2 2015), the funded status of the model pension plan ... increased by 8 percentage points: from 79 percent to 87 percent. This increase was the result of a 10 percent liability decrease and flat investment performance during the quarter." (Segal Rogerscasey)  

Under Regulatory Pressure, Voya Restricts Sales of More Variable Annuities
"Voya Financial Advisors has restricted sales of variable annuities for the second time in two months, as the brokerage firm faces increased pressure from regulators questioning the suitability of the products for retirement savers.... [T]he broker-dealer that serves more than 2,000 registered representatives said it is no longer approving sales of a second type of variable-annuity contract if that contract includes add-ons that come at extra cost[.]" (Investment News)  

[Opinion]

Is It Personnel Shortage, Intrusiveness, or Both, That's Behind New Form 5500-SUP?
"Some feel that a plan that provides data on its methodology for conducting coverage and nondiscrimination testing, its amending history, opinion or advisory letter information, etc., is making itself an all too convenient target for an IRS audit.... There are questions on Form 5500-SUP the answers to which will come from other providers, which the preparer may be in no position to authenticate or verify. Is the preparer potentially on the hook for the work of others over whom it truly had no control? Mandating that the preparer of the Form 5500-SUP be identified will result in a public record disclosure of the client/preparer relationship; something not required of preparers of Form 5500 itself. Is this really necessary?" (Todd Berghuis, for Ascensus)  

Second Circuit Creates Three-Part Test for Determining Whether Severance Policy Falls Under ERISA
"The Court established three factors that courts will consider when deciding the ultimate question of whether a particular undertaking is an ERISA 'plan, fund, or program:' '[1] whether the employer's undertaking or obligation requires managerial discretion in its administration; [2] whether a reasonable employee would perceive an ongoing commitment by the employer to provide employee benefits; and [3] whether the employer was required to analyze the circumstances of each employee's termination separately in light of certain criteria.' " [Okun v. Montefiore Medical Center, No. 13-3928 (2d Cir. July 17, 2015)] (Reid and Riege, P.C.)  

Summary of Recent ERISA Court Decisions, July 30, 2015
Highlighted decisions: [1] Retirement plan's definition of "normal retirement age" as five years of service violated ERISA (2d Cir.); [2] Employer abused its discretion in denying LTD claim by ignoring favorable treating physician evidence, relying heavily on physician consultants, and failing to get an in-person examination (6th Cir.); [3] Notice of contingent withdrawal liability satisfied the successor liability notice requirement (7th Cir.); [4] Plan participant was not entitled to convert previously elected early retirement benefit into a disability claim under the unambiguous terms of defined benefit pension plan (10th Cir.); and summaries of several slip copy and unreported decisions. (Springer & Roberts LLP)  

BrightScope Names Top Three Mutual Funds Held in Retirement Plans Across Investment Categories
BrightScope

HCSC President and CEO Pat Hemingway Hall To Retire; Board Names Chief Strategy Officer Paula Steiner as Successor
Health Care Service Corporation

John Hancock Retirement Plan Services to Offer Morningstar's HelloWallet Financial Wellness Tool to Plan Participants on its Total Retirement Solution Platform
John Hancock Retirement Plan Services

Melanie S. Dickinson and Jim McCormick named Top Retirement Plan Advisors
PMD Advisory, Inc.

View All Press Releases