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The Retirement Advantage, Inc.
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Amgen, Gobeille, Montanile and More - Supreme Court Puts ERISA Front and Center in 2016
April 4, 2016 WEBCAST
(Practising Law Institute)

HIPAA Privacy and Security Rules for Employers
April 7, 2016 WEBCAST
(Frenkel Benefits, LLC)

Pulse On Medical Plan Trends and Observations 2016
April 7, 2016 WEBCAST
(CEB)

Employee Benefits & Health Care Forum
April 19, 2016 in OH
(Schneider Downs)

Taking the Mystery Out of Retirement Planning Workshop
April 26, 2016 in IL
(Employee Benefits Security Administration [EBSA], U.S. Department of Labor)

ERISA Benefit Plans: Addressing and Preventing a Data Breach
May 10, 2016 WEBCAST
(Lorman Education Services)

Rethinking Your ESOP Plan Design and Operations
May 17, 2016 WEBCAST
(National Center for Employee Ownership [NCEO])

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Today's Discussions on the BenefitsLink Message Boards

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[Official Guidance]

Text of PBGC Disaster Relief In Response to Severe Storms, Tornadoes, and Flooding in Texas
"This Disaster Relief Announcement provides relief relating to PBGC deadlines ... [to] any person responsible for meeting a PBGC deadline (e.g., a plan administrator or contributing sponsor) that is located in the disaster area for which the [IRS] has provided relief in HOU-2016-03, March 21, 2016 ... The relief generally extends from March 7, 2016 through July 15, 2016. The disaster area consists of Jasper, Newton, and Orange Counties." (Pension Benefit Guaranty Corporation [PBGC])  

[Advert.]

Register for P&I's 401(k) Investment Lineup Summit

Simplify DC Complexity: Register for this FREE 1-day event to learn how to build a diversified plan while maintaining a simple investment lineup that increases employee engagement and clearly communicates what's included in the plan.

PBGC Reporting Changes Account for Pension 'Smoothing'
"The rule ... makes changes involving pension plans' funding target attainment percentage and that percentage's relationship to requirements that plans report to the PBGC. It also modifies waivers from reporting and adds new ones. The modifications codify changes made by the 2012 Moving Ahead for Progress in the 21st Century Act (MAP-21), the Highway Transportation and Funding Act of 2014 (HAFTA) and the Bipartisan Budget Act of 2015. Those laws included pension 'smoothing' provisions designed to ease the impact low interest rates have had on single-employer plans' minimum funding requirements." (Bloomberg BNA)  

Lack of Guidance May Extend Window for Lump-Sum Distributions
"Until recently, many plan sponsors and their advisers have been anticipating that these new mortality tables would be required for plans in 2017. The tables are expected to incorporate longer life expectancies and thus make it more expensive for sponsors to offer lump-sum payouts to participants. A delay in the required use of the tables could affect a sponsor's decision on whether to offer a lump-sum window -- a temporary opportunity to take benefits in that form -- in 2016." (Milliman Retirement Town Hall)  

When ADP/ACP Testing Fails, 401(k) Fiduciaries Should Understand Their Options
"Although approximately 30% of 401k plans subject to ADP/ACP testing fail, it's an outcome most small businesses want to avoid. [Here] are steps a 401k fiduciary can take to do that. [1] Become a safe harbor 401k plan ... [2] Increase non-HCE Participation ... [3] Evaluate your testing options." (Employee Fiduciary)  

Plan Sponsors: Don't Be a Target for DOL or Participant Challenge of Retirement Plan Fees and Expenses
"Retirement plan fiduciaries need to review and thoroughly understand the asset management fees and administrative expenses that are being paid from retirement plan assets to verify those fees and expenses are reasonable.... The plan's fiduciaries should determine whether the retirement plan is invested in the lowest fee share class available to the retirement plan, and if not, should consider and document why it was prudent for a different share class to be utilized.... Documentation should include minutes or notes regarding the decision along with a copy of the information that the fiduciaries considered in their analysis." (Poyner Spruill LLP)  

[Advert.]

Annual Funding Notice Deadline is April 30! Are you ready?

Time is Running Out! Avoid DOL fines and meet your deadline with PBI's Address Location Services. The industry leader for over 30 years, we can provide you with addresses within a few hours. Call 415-482-9611 or email inquiry@pbinfo.com.

Financial Advisors Weigh in on What the DOL Fiduciary Rule Could Mean for Them
"[A]wareness of the investment advice regulation proposed by the [DOL] is widespread among financial advisors industry-wide, with four out of five at least somewhat aware of the proposal and 73 percent concerned the rule will have a negative impact on how they do business.... 53 percent of advisors say that their firms plan to wait until the DOL rule is finalized before undertaking any substantial action." (Fidelity)  

SEC Dangles Uniform Fiduciary Proposal, Again
"At a House appropriation hearing on Tuesday, [SEC Chair] Mary Jo White said increasing advisor exams is indeed a top priority within the commission, and reiterated her belief that the commission should implement a single standard of fiduciary duty for brokers and advisors who serve retail clients. As in the past, White would not be pinned down on the timing of when a fiduciary proposal might emerge, but indicated that the process is moving forward at the commission." (On Wall Street)  

Valeant Losses Could Hurt Retirement Plans at More Than 50 Companies
"More than 50 companies have offered Sequoia Fund Inc. as an investment option in their employee savings plans, according to 2014 data ... Sequoia's largest holding -- at one point last year more than 30% of its portfolio -- is Valeant Pharmaceuticals International Inc. The drugmaker's stock has tumbled about 70% this year amid questions about its accounting and business practices.... Investment consultants say it is rare for workplace plans to offer mutual funds like Sequoia that have concentrated bets." (The Wall Street Journal; subscription may be required)  

Retirement Planning: Protecting Your Investments Against Volatility and Economic Concerns
"If you own a diversified portfolio of securities in different asset classes, its value will generally move up and down with the market. On the other hand, if you own a concentrated portfolio of stocks based in an emerging market country that is suddenly faced with serious political unrest, it's possible that the money will be lost forever. Therefore, building a diversified portfolio and understanding your personal risk tolerance ... is essential to developing a successful long-term investment strategy." (Manning & Napier)  

[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.

What Do You Find Most Confusing About Retirement?
"Social Security benefits are confusing, as is the process for identifying optimal claiming ages.... I have trouble finding a good retirement planner.... Figuring out the most tax-efficient way to distribute from IRAs, Roth IRAs, and taxable accounts at the right time is just a few too many variables for me and Excel.... The potential for early retirement.... Continuity of investment and household expense management if I die or become disabled and where to find emotional, decision making, and day-to-day support in very old age, when we're less sharp and mobile." (The Retirement Cafe)  

Unreasonable Request -- Is CalPERS Putting State Agencies Between a Rock and a Hard Place?
"When presented with a conflict between what the applicable labor agreement states and what CalPERS states is required to make an item of compensation reportable under applicable CalPERS statutes and regulations, agencies should work with employee associations to reach a mutually beneficial agreement. In many cases, it may work to the employee association's advantage to agree to the change requested by CalPERS, as it will likely ensure that an item of compensation will continue to be included in pension benefits." (Liebert Cassidy Whitmore)  

[Guidance Overview]

Section 162(m): Actions That Should Be Taken by March 30, 2016, And/Or in This Year's Proxy to Avoid the $1,000,000 Deduction Limitation
"For performance-based bonuses and other compensation for 2015 to qualify as 'performance- based compensation' that is exempt from Section 162(m), the Compensation Committee must certify in writing that the performance goals have been satisfied before the bonuses or other compensation is paid. To be exempt from the Section 162(m) deduction limitations, the Compensation Committee must set the performance goals during the first 90 days of the performance period. Thus, for a performance award for calendar year 2016, the goals must be set no later than March 30, 2016." (Greenberg Traurig)  

First-in-the-Nation Public/Private Partnership Creates Game-Changing Pharmacy Benefit Management Program
Health Action Council

DOL Sues Defunct Philadelphia Non-profit to Appoint Independent Fiduciary to Terminate 401(k) Plan
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

DOL Secures Consent Judgment Appointing Independent Fiduciary to Distribute $966K in 401(k) Assets of Defunct Pennsylvania Biopharma Company
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

DOL Obtains Judgment and Order Against Carolina Crawler & Equipment of Charleston Inc. to Restore Employee Contributions to the Company's SIMPLE IRA Plan
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Ascensus Celebrates 5th Consecutive Year as Philly.com Top Workplace
Ascensus

CDC Designates Retrofit as a National Diabetes Prevention Program
Retrofit Inc.

401k Averages Book helps Advisors Compare 401k Plan Costs
401ksource.com

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