Retirement Plans Newsletter

October 14, 2016 logo logo
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Employee Benefits Jobs

Retirement Plan Administrator
Leading Retirement Solutions
in WA

Benefits Analyst
Universal Health Services, Inc.
in PA

DC Administrator
Retirement Systems of Arizona
in AZ

Client Service Administrator - Retirement Plans
MCF Advisors, LLC
in KY

ERISA 3(16) Defined Contribution Manager
The Angell Pension Group, Inc.

Retirement Plan Coordinator
Summit Benefit Solutions, Inc.
in OH

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Webcasts and Conferences

ACA Check-up: What's the Prognosis for the Exchanges?
October 26, 2016 WEBCAST
National Institute for Health Care Management Foundation

Mandatory Holding Periods (After Vesting) for Equity Awards: The Intersection of Governance, Accounting, and Plan Design
November 2, 2016 WEBCAST
LRP Publications

Capital Market Update
December 14, 2016 WEBCAST
Conference of Consulting Actuaries

ERISA Fiduciary Investment Basics 2017
March 20, 2017 WEBCAST
Practising Law Institute

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Retirement Income Solutions Are Lacking in the Workplace
"While 64% of plan sponsors state that it is a high priority to implement a retirement income solution, only 16% currently have one in place.... Sponsors are generally unsure of the best way to implement income solutions. Survey results indicate in-plan solutions (41%) and a combo of in-plan and out-of-plan solutions (35%) are the most desirable.... When sponsors were asked if they have surveyed their participants about their interest in a retirement income solution, only 4% responded affirmatively."
Corporate Insight


Target Date Funds: What You Need to Know

Sponsored by Lorman and BenefitsLink

October 21 webinar, with Joan Neri of Drinker Biddle. Learn what distinguishes a custom target date fund from an off-the-shelf target date fund. Plan fiduciaries will learn about your fiduciary responsibilities in selecting target date funds and the prudent process that can be undertaken to fulfill these duties and minimize risk.

DOL Fiduciary Rule Will Trim 401(k) Advisers' Stable of Record Keepers, Asset Managers
"Forty percent of retirement/benefits consultants and 43% of retirement advisers believe the regulations will lead to a decline in the number of record keepers they use ... 26% of retirement/benefits consultants and 35% of retirement advisers believe the rules, which raise investment-advice standards in retirement accounts, will lead to a similar result among asset managers serving DC plans."

Retirement Plan Participants Could Benefit from SEC Final Liquidity Rule
"The [SEC] voted to adopt changes to modernize and enhance the reporting and disclosure of information by registered investment companies and to enhance liquidity risk management by open-end funds, including mutual funds and exchange-traded funds (ETFs).... [Vanguard's John Hollyer] explained that this means when cash flows in or out rise above a certain threshold, the mutual fund could choose to adjust the cost of the fund that day to account for the number of investors who bought or sold on that day. Long-term investors, such as retirement plan participants, would benefit from this because they would not bear the cost of frequent traders."

Hispanic Workers Are Less Likely to Be Participants in Retirement Plans
"In 2012, just 34 percent of prime-working-age Hispanic workers employed 35 or more hours per week were enrolled in an employer-based plan, compared with 59 percent of their non-Hispanic white counterparts.... Only a quarter of prime-working-age Hispanic families have retirement account savings and the median balance is just $22,000."
Economic Policy Institute

Mercer Global Pension Buyout Index, October 2016 (PDF)
20 pages. "Based on buy-out statistics collected from insurance companies, the pension risk transfer sales volume at the end of the second quarter of 2016 was just over $2 billion. We expect that data being collected from insurance companies will show the sales at the end of the third quarter of 2016 to be twice that amount given the announcement of the large PPG transaction and increased prevalence of retiree annuity buyouts."

[Advert.] Expert Webinar with Deborah Rubin, Transamerica

Sponsored by

Join Deborah Rubin, SVP of Retirement Transamerica, on October 19th, 2016 at 2:00pm EDT, as she shares expert insight on creating SMART goals and how you can master the art of getting stuff done.


Investor Protections Are Missing from New California Retirement Plan
"The bedrock foundation of investor protections in the US for retirement savers is a combination of [ERISA] and the federal securities laws. The [DOL] has granted significant exemptions to the states for ... ERISA -- and we don't know how the federal securities laws are going to apply to these plans. What protections are there for the people who are putting their money away, their retirement savings away, in these plans? We simply don't know at this stage."
Investment Company Institute [ICI]


Are Public Pensions Bulletproof?
"Loyalton has been thrust onto center stage of America's public pension drama and this showdown is raising the possibility that California's pension promise is not absolute. This is particularly worrisome given California's pension gap is widening and could bring about major changes to public sector pensions there. And while Loyalton lacks the resources to fight CalPERS, if other cases develop ... don't be surprised if we get massive class action lawsuits (think Erin Brockovich) against retirement systems all over the United States."
Pension Pulse

Benefits in General

Text of IRS News Release IR 2016-132: IRS Continues to Closely Monitor Relief for Hurricane Matthew Victims as Oct. 17 Deadline Approaches (PDF)
"[T]axpayers affected by Hurricane Matthew but not yet covered by a federal disaster declaration ... may qualify for relief from penalties if they are unable to meet Monday's extended deadline for filing 2015 tax returns.... [A]dditional individual assistance areas could be added to the federal disaster area in coming days based on continuing damage assessments by [FEMA]. These additional disaster declarations will pave the way for additional extensions and other relief from the IRS.... Taxpayers affected by Hurricane Matthew ... should file when they are reasonably able. If they live outside the federally-declared disaster area ... they can request abatement of the penalties, based on reasonable cause, by replying in writing to the penalty notice and explaining that they're impacted by the hurricane."
Internal Revenue Service [IRS]

Executive Compensation and Nonqualified Plans

Hot Topics in Executive Compensation
"[1] Mandatory holding periods after vesting are growing in popularity for accounting purposes. [2] A portfolio approach (more than one vehicle) is becoming the norm for delivery of long term incentive compensation. [3] Total Shareholder Return is becoming a more popular performance metric. [4] Clawbacks are becoming more of a standard practice in executive compensation in light of upcoming Dodd-Frank regulations. [5] Use of stock options is becoming less common because of accounting issues and advisory firms' stance that they are not pay for performance."
Findley Davies

Press Releases

Sentinel Benefits Names New CEO
Sentinel Benefits & Financial Group

Connect   LinkedIn logo   Twitter logo   Facebook logo, Inc.
1298 Minnesota Avenue, Suite H
Winter Park, Florida 32789
(407) 644-4146

Lois Baker, J.D., President
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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