Retirement Plans Newsletter

February 3, 2017 logo logo
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Employee Benefits Jobs

Client Consultant
Unified Trust Company, N.A.
in KY

Benefit Consultant
Unified Trust Company, N.A.
in KY, Telecommute

Retirement Plan Specialist
in CO

Individual Savings Counselor
in CO

Internal Wholesaler
in CO

Senior Counsel - Benefits (0201)
University of California Office of the President
in CA

Pension Secretary (Call Center)
IUPAT Industry Pension Fund
in MD

Pension Plan Administrator
TPA Firm
in NJ

Institutional Retirement Consultant
Unified Trust Company, N.A.

Internal Consultant
Unified Trust Company, N.A.
in KY

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Webcasts and Conferences

Fiduciary Best Practices – Will Your Plan Hold Up to a Compliance Review or Audit?
February 16, 2017 in CA
Western Pension & Benefits Council - Orange County Chapter

Missing Participants and the DOL’s Current Crusade
February 23, 2017 in PA
Morgan Lewis & Bockius LLP

Retirement Plans: Steering the Fiduciary Ship
March 2, 2017 in IL
Morgan Lewis & Bockius LLP

HIPAA Privacy & Security: Take-Aways from the Latest Guidance, Penalties, and Enforcement Actions
April 4, 2017 WEBCAST

View All Webcasts and Conferences

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Trump to Order Review of Dodd-Frank, Halt Obama Fiduciary Rule
"President Donald Trump will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, ... signing an executive action Friday designed to significantly scale back the regulatory system put in place in 2010. Mr. Trump also will halt another of former President Barack Obama's regulations ... that requires advisers on retirement accounts to work in the best interests of their clients. Mr. Trump's order will give the new administration time to review the change[.]"
Pensions & Investments


ERISA Audits: What We All Knew but Forgot

Sponsored by Lorman and BenefitsLink

Feb. 27 webinar. When the DOL or IRS comes knocking and looking to examine the benefits being offered to employees, it is important for an employer to be knowledgeable and ready.

Judge to Decide Next Week on Challenge to DOL Fiduciary Rule
"Chief Judge Barbara Lynn [of the Federal District Court for the Northern District of Texas] told the parties she'll make a decision on the case no later than Feb. 10 ... It's one of several possible ways that the [DOL] regulation could be overturned.... Rep. Joe Wilson (R-S.C.) recently introduced a bill to delay implementation of the rule by two years. And Rep. Pete Sessions (R-TX) issued a letter to the president asking him to immediately delay implementation."
Financial Planning

2017 Might Be DB Sponsors' Last Best Chance to Offer Lump Sums
"By postponing adoption of the updated SOA tables until 2018, the IRS has provided DB plan sponsors with one last opportunity to offer lump sums using the older mortality assumptions.... In addition, by reducing their plan's participant count by the number of terminated vested participants who accept a lump-sum window, a plan sponsor is reducing the amount it would pay in total PBGC premiums going forward after 2017."

Connecticut Legislature Approves Plan to Restructure State Pension Obligations
"The deal includes reducing the assumed rate of return to 6.9% from 8%; transitioning to level dollar amortization from level percent of payroll over five years; maintaining 2032 as the payoff date for [about $4.3 billion in] unfunded liability accrued through Dec. 31, 1983 ... and extending the amortization period for the balance of the unfunded liability to 2046 from 2032."
Pensions & Investments

The Effect of Job Mobility on Retirement Timing by Education
"This study asks how the rise in job-changing ... affects retirement timing and whether this effect varies by ... educational attainment.... [W]orkers switching jobs late in their careers might retire later than they otherwise would have.... Changing jobs, however, sheds the protection that tenure provides against involuntary job loss, which often leads to earlier retirements for older workers.... The results show that the benefits of job changing are widely distributed[.]"
Center for Retirement Research at Boston College


Attend NAPA's 2017 401(k) Summit in Las Vegas

Sponsored by NAPA

Register for NAPA's 2017 401(k) Summit – the event Plan Advisors won't want to miss! Enjoy networking with other financial advisors and TPAs while earning up to 14 hours of NAPA/ASPPA CE credits from innovative sessions on the topics that matter most to YOU.

Avoiding Financial Regret about Retiring Too Early
"[A recent article] advocates the use of behavioral economics tools like the two-question quiz to 'help us find ways to stop people from retiring too early' and regretting their decision.... [E]ach year of continued employment and deferral of retirement from age 62 to age 70 results in closer to a 10% increase in an individual's real dollar spending budget."
Ken Steiner, FSA Retired


Senate Takes Up Fight to Move PBGC Premiums Off-Budget
"[The Pension and Budget Integrity Act of 2017] would ensure that [PBGC] premiums are no longer counted in general fund revenue, eliminating the incentive for legislators to raise premium costs to pay for unrelated initiatives and programs. That change would help to stabilize single-employer pension plans and provides more certainty for America's companies and their employees."
The ERISA Industry Committee [ERIC]


IPEBLA Comment Letter to Treasury on FIRPTA Requirements for Exemption for Qualified Foreign Pension Funds (PDF)
"[It] is possible that almost no pension fund, even one that meets U.S. ERISA requirements, could satisfy the [qualified foreign pension fund (QFPF)] exemption. That would not seem to be the intended result of the PATH Act change, which is to encourage non-U.S. tax-advantaged pension funds to invest in U.S real property. The issue is essentially what it means for a plan to 'provide annual information reporting about its beneficiaries to the relevant tax authorities'."
International Pension & Employee Benefits Lawyers Association [IPEBLA]

Press Releases

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BenefitsLink Retirement Plans Newsletter, ISSN no. 1536-9587. Copyright 2017, 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 those materials. You may not alter or remove any trademark, copyright or other notices from copies of the content.

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