DATAIR Employee Benefit Systems, Inc.

Account Manager
National Retirement Services, Inc.
in NC

Investment Advisor - Retirement Plan Services
The PrivateBank
in IL

Senior Retirement Plan Administrator / Consultant
Plan Administration & Consulting, LLC
in TN

Participant Call Center Specialist for Retirement Plan Administration
Ingham Retirement Group
in FL

Retirement Plan Services - Implementation Consultant
T. Rowe Price
in CO

Retirement Plan Coordinator
T. Rowe Price
in CO

Marketing Coordinator
Verisight
in CA

Senior Plan Administrator
PASI, LLC
in CT

Benefits Specialist
Blue Benefits Consulting, Inc.
in IN

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CATTS Top 10 Tips Webcast
November 17, 2015 WEBCAST
(ASC)

Life After Tibble: Investment Monitoring and Litigation Defense Considerations for ERISA Fiduciaries
December 3, 2015 WEBCAST
(Bloomberg BNA)

What the Healthcare Law Means for your Small Business
December 10, 2015 WEBCAST
(U.S. Small Business Administration [SBA])

Misclassification of Employees – Litigation and Transactional Issues Across the Employment Spectrum
December 10, 2015 WEBCAST
(Bloomberg BNA)

S Corporation ESOPs - Legal Issues
August 23, 2016 WEBCAST
(National Center for Employee Ownership [NCEO])

Valuation Basics
August 30, 2016 WEBCAST
(National Center for Employee Ownership [NCEO])

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Today's Discussions on the BenefitsLink Message Boards

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[Guidance Overview]

IRS Discontinues ERPA Examinations; Last Chance to Become an ERPA
"This change does not impact current ERPAs. The renewal periods and continuing education requirements are unchanged. They will continue to have authority to represent taxpayers on plan issues.... After February 12, 2016, employee benefit professionals without the ERPA designation who wish to practice before the IRS on retirement plan matters will have to consider taking the three-part Special Enrollment Examination to become an Enrolled Agent." (SunGard Relius)  

[Advert.]

Fulfill Your Annual Ethics CE Credit Requirement!

Learn about IRS top ethics concerns & much more! Join John Griffin, J.D., LL.M., December 3rd for a discussion of the ethical issues facing employee benefits practitioners. Register now!

[Guidance Overview]

DOL Releases Guidance to Facilitate State-Based Retirement Initiatives (PDF)
"The big takeaway from the guidance is that the President is essentially green-lighting state retirement initiatives, some of which have the potential to have a major impact on the retirement system.... The state initiatives have really expanded in recent months and have flown under the radar so far for many in the retirement industry because all of the attention has been on other policy issues -- in particular the reproposed fiduciary rule." (Groom Law Group)  

DOL Opens the Door for State-Run Retirement Initiatives
"Perez acknowledged that states might face legal challenges, despite the Labor Department's clarifications. He noted that the department has had discussions with various constituencies objecting to state participation in the retirement savings arena. 'The safe harbor is not an air-tight guarantee,' he said. 'The federal courts are the ultimate arbiter on the question of whether state retirement plans are legal or not. But our proposals would provide states with a road map for minimizing the risk of a lawsuit. We could never eliminate litigation risk. But we believe we can substantially mitigate litigation risk with this regulatory proposal.' " (Bloomberg BNA)  

IRS Dec. 8 Webinar: Employee Plans Examinations Update, Fall 2015
"Learn about: [1] Examination program priorities for the new fiscal year; [2] Form 5500 Series return errors and how to avoid them; [3] Recurring errors found in 401(k), 403(b), large case, and multiemployer plans; [4] Hot topics and issues in Employee Plans today; and [5] The recent EP Compliance Unit projects and summaries of completed projects." (Internal Revenue Service [IRS])  

Chart of Reminder Dates for Retirement Plan Participant Notices (PDF)
"Hard copies of all notices are typically mailed, unless an electronic delivery option has been affirmatively consented by the plan participant or beneficiary. The due dates are assuming a calendar year plan. This list is not intended to be inclusive of any and all plan participant communications." (Strategic Benefit Services)  

[Advert.]

Now is a great time to join Worldwide Employee Benefits Network (WEB)

WEB members represent more than 25 professions and 30 areas of expertise within the pension and benefits industry-including administrators, consultants, attorneys, accountants, investment managers, communications experts and benefits managers. Join today.

California Governor's Budgets Shrink Pension Payment to California State University
"Now the governor's state budgets have begun gradually shifting more of the CSU employer pension cost to the university system. The state continues to pay the full CSU employer rate. But the amount the state gives CSU for mid-year adjustments to the rate, based on payroll and other factors, has been tied to the fiscal 2013-14 level." (Calpensions)  

[Opinion]

Facilitating State-Level Action to Support a Secure Retirement
"[In] every budget since taking office, the President has proposed to automatically enroll in an IRA approximately 30 million employees without access to a workplace retirement savings plan.... [I]ndividual states have moved ahead ... But concerns that such programs may run afoul of federal pension law have hindered efforts at the state level. The rule that the [DOL] is proposing ... gives states the best possible path forward consistent with federal law. It's important to note that we care much more about states creating safe and secure savings opportunities than we do about exactly what the programs look like. We know that there is no one-size-fits-all approach to this, and that good ideas are going to spawn even better ones." (U.S. Department of Labor [DOL] Blog)  

[Opinion]

DOL Gives State-Run Plans an Edge Over Private Sector
"[An] interpretive bulletin, effective immediately, allows states to sponsor retirement multiple employer plans (MEPs) for employers operating in the state. This would stand in sharp contrast to the DOL's long-standing reluctance to enthusiastically embrace the use of these so-called 'open' MEPs for otherwise unrelated employer retirement plans. 'Both pieces of guidance are misplaced attempts by the Administration to promote coverage by giving marketplace advantages to states as retirement plan providers, with no reasonably apparent policy justification to suggest states are somehow going to do a better job providing retirement plan products,' said American Retirement Association CEO Brian Graff." (American Society of Pension Professionals & Actuaries [ASPPA])  

[Opinion]

State-Based Retirement Programs Pose Hazards for Employers, Workers
"We are deeply concerned that the Obama Administration is pursuing policies that could fragment and undermine our nation's voluntary retirement system for private-sector workers. The contemplated state programs pose serious hazards for employers and workers, who could be forced to turn their savings over to the same state agencies that have created a $1.4 trillion shortfall in public-sector workers' pensions." (Investment Company Institute [ICI])  

[Opinion]

Why You Shouldn't Use Custom TDFs In Your 401(k)
"[C]ustomized target date fund approaches ... may: Result in much higher costs.... Use inappropriate investments.... End up white-labeled.... Be constructed based on questionable assumptions.... Be less transparent.... Have benchmarking problems.... Add complexity.... Seem to increase fiduciary liability for plan sponsors." (Lawton Retirement Plan Consultants)  

[Opinion]

Prof. Ron Rhoades Provides Detailed Critique of the DOL Proposed Fiduciary Rule
"BICE could be misconstrued, in several respects, so as to permit over time the perverse economic incentives that result from conflicts of interest.... [We] have to view the Best Interest Contract Exemption (or BICE) as a temporary, interim measure, designed to permit the investment industry time to adjust to a true fiduciary environment. Otherwise, BICE could institutionalize best practices, particularly if it is not applied correctly in FINRA arbitration, which appears likely.... BICE's permission of differential compensation to the firm (although not to the individual advisor) presents a huge difficulty.... the DOL should set forth examples of unreasonable compensation.... the DOL should tie the receipt of compensation, in time, to the delivery of services." (Fiduciary News)  

[Guidance Overview]

Dodd-Frank's Executive Compensation Provisions: A Progress Report
"[A chart] summarizes the status of some of the more recent SEC rulemaking actions pertaining to Dodd-Frank's executive compensation provisions. It also includes links to [Towers Watson] articles and blog postings discussing these provisions." (Towers Watson)  

Acceleration of Benefits Following Nonqualified Benefit Plan Termination Did Not Give Rise to ERISA Claim
"[T]he 11th Circuit held that the termination of a nonqualified deferred compensation plan and acceleration of the participant's annuity benefits to a present value lump sum does not 'adversely affect' the participant's benefit.... The court dismissed [the participant's] claims finding that: ... [t]he tax impact is not an ERISA protected benefit; and [u]sing a discount rate to calculate the present value of a future benefit is not a reduction of benefits and therefore, does not 'adversely affect ... accrued benefits' in violation of the plan documents." [Taylor v. NCR Corp., No. 1:14-cv-2217-WSD (N.D. Ga. Sept. 23, 2015)] (Fulcrum Partners, LLC)  

Decision Time for Nonqualified Deferred Compensation: Top Issues in Choosing Salary Deferrals for the Year Ahead
"In the analysis for deferrals to make in 2016, one ongoing issue stems from the tax increases that took effect in 2013, including the additional Medicare taxes for high earners. Other points to consider include the following. [1] Maximizing the amount you can contribute to your 401(k) plans.... [2] Cash needs for the year ahead and multi-year projections for your income.... [3] The financial security of your company, and your job security.... [4] Company match.... [5] The thresholds for higher taxes and rates." (myStockOptions.com)  

ALM’s Judy Diamond Associates Re-Launches American Directory of Group Insurance Plans
Judy Diamond Associates

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