Retirement Plans Newsletter

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Employee Benefits Jobs

Senior Plan Administrator
MGA Consultants, Inc.
in MD

Pension Administrative Consultant (PAC)
Polycomp Administrative Services, Inc.
in CA

Actuarial Assistant
in IN

Regional Vice President - Retirement Plan Sales
in DC, MD, VA, WV

Compliance Audit Manager
Calibre CPA Group
in MD

Retirement Plan Consultant/ Administrator
The MandMarblestone Group, llc
in PA, Telecommute

Enrolled Actuary
Pension Associates Retirement Planning LLC
in CT

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Webcasts and Conferences

Navigating the New Proposed Regulations Under Sections 409A and 457
August 9, 2016 WEBCAST
Practical Law Company

Employer Self-Funding Trends
September 15, 2016 in GA
Worldwide Employee Benefits Network [WEB] - Atlanta Chapter

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[Guidance Overview]

Section 457(f) Carve-Outs Under New Proposed Regs
"[T]he proposed regulations clarify how certain pay arrangements are carved out from Section 457(f) compliance, either because the arrangement is not deemed to provide for a deferral of compensation, or because it defers compensation but not in a manner that falls under Code Section 457(f). Where no deferral of compensation occurs, the pay arrangement is also exempt from the 'Enron rules' applicable to for-profit deferred compensation plans under Code Section 409A, and related regulations."  E is for ERISA


P&I DC West Conference | San Diego | Oct 23-25

Sponsored by Pensions & Investments

Join leading executives who manage 401(k), 403(b), 457 and TSP plans at DC West. You'll learn how other plan sponsors analyze, develop, implement and measure programs for their participants, so you can improve your own plan.

IRS Addresses Questions on Nonqualified Deferred Compensation Plans (PDF)
"It appears that adhering to this 457 rule on re-deferrals does not subject the compensation to the rules under 409A, but if compliance with 457(f) fails, compliance with 409A is needed to avoid current taxation.... Similar to the 409A requirement that the time of a severance payment not depend on the timing of the employee's execution of a release ... to avoid constructive receipt of the short-term deferral, the plan should include the actual payment date or parameters for payment when the employee has control over the timing of the payment."  Xerox HR Services

Actuarial Leaders Disband Task Force, Object to Paper on Public Plan Liabilities
"The American Academy of Actuaries and the Society of Actuaries Monday abruptly disbanded its longtime joint Pension Finance Task Force, objecting to a task force paper challenging the standard actuarial practice of valuing public pension plan liabilities.... One product of the task force was the paper, 'Financial Economics Principles Applied to Public Pension Plans,' which has not been published or posted.... The paper, written by four members of the task force ... calls for measuring public plan liabilities using risk-free interest rates."  Pensions & Investments

Options to Improve the Financial Condition of the PBGC's Multiemployer Program (PDF)
35 pages. "In 2014, lawmakers enacted changes ... [which] modestly improved the outlook for the multiemployer program, but claims for financial assistance are still projected to greatly exceed the program's resources over the next 20 years. Policymakers and others have proposed additional changes to improve the financial position of PBGC and the overall health of multiemployer pension plans. CBO analyzed the effects of several types of proposed changes[.]"  Congressional Budget Office [CBO]

PBGC Proposal Could Halt Plan Mergers, Grocers Say
"Attempts to save struggling multiemployer pension plans could be halted by proposed rules issued by the [PBGC], according to the grocery-chain Kroger Co. and a coalition of food and dairy companies. The proposed rules are intended to help plans that are in 'endangered,' 'critical' or 'critical and declining' status to merge with or transfer their assets to healthier plans to prevent -- or, in some cases, merely postpone -- insolvency. The rules would 'prevent mergers and transfers that are in the best interests of plan participants and that lessen the risk to the PBGC for guaranteed benefits,' the Cincinnati-based company said[.]"  Bloomberg BNA


Register by August 19 for $200 Off Top-Rated Benefits Conference

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ERISA Fidelity Bond vs. Fiduciary Liability Insurance
"Fiduciary liability insurance -- while not required -- could be an important financial safety net for plan fiduciaries.... Once limited to protecting trustees from fiduciary breaches and administrative errors, now enhanced policies can cover such things as the cost of plan corrections made through voluntary compliance programs, settlor and nonfiduciary claims, defense costs associated with regulatory investigations and regulatory penalties, which may not be paid from plan assets."  National Association of Plan Advisors [NAPA]

Trinity Health Settles 'Church Plan' Pension Suit for $75M
"The settlement requires Trinity Health to contribute $75 million among nine different pension plans within the Trinity Health umbrella, including the plan for Catholic Health East, which merged with Trinity in 2014. While this settlement is less than the $107 million deal Connecticut-based St. Francis Hospital agreed to in May, it dwarfs the $8 million settlement reached by Ascension Health and its workers in a similar case last year."  Bloomberg BNA


Multiple Employer Plan Expansion Imminent?
"There has been a well deserved outcry from the private sector retirement plan community about the need ... to be able to compete with these new state-sponsored plans on a level playing field. The proposed state-sponsored 'open multiple employer plan' format contains pretty much all of the features that [the industry] would like to see made available under private sector plan rules. This format should be expanded to the private sector 413(c) multiple employer plans as well."  The Platinum 401k, Inc., via LinkedIn

Benefits in General

The Importance of Preserving Tax-Preferred Status for Employer-Sponsored Health and Retirement Plans (PDF)
"Now, as Congress begins to lay the foundation for comprehensive tax reform, the need to raise federal revenue may trump the continuation of the tax preferences for employer-provided health and retirement benefits. Recent actions illustrate that the drive for federal revenue may not be sufficiently tempered by the potential negative impact on employers and employees who must bear the brunt of these revenue-induced changes. This article considers the erosion of protections offered by [ERISA] and the importance of maintaining the tax treatment of employer-provided benefits."  Benefits Quarterly, published by the International Society of Certified Employee Benefit Specialists [ISCEBS]

Press Releases

Connect   LinkedIn logo   Twitter logo   Facebook logo, Inc.
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David Rhett Baker, J.D., Editor and Publisher
Holly Horton, Business Manager

BenefitsLink Retirement Plans Newsletter, ISSN no. 1536-9587. Copyright 2016, Inc. All materials contained in this newsletter are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of, Inc., or in the case of third party materials, the owner of that content. You may not alter or remove any trademark, copyright or other notice from copies of the content.

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