Retirement Plans Newsletter

May 4, 2017 logo logo
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Employee Benefits Jobs

Webcasts and Conferences

Ins & Outs of Socially Responsible Investing for Retirement Plans
Verrill Dana LLP

First 100 Days: What the New Administration Means For Benefits, Taxes, and Employment Compliance
May 9, 2017 in GA
Fisher & Phillips LLP

Disruption in Washington: Impact on Benefits and Compensation
May 10, 2017 in CA
Morgan Lewis & Bockius LLP

Choosing a Retirement Solution for Your Small Business Workshop
May 10, 2017 WEBCAST
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Affordable Care Act Compliance
May 10, 2017 WEBCAST
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

EBRI Policy Forum #80: Retirement Policy Directions in 2017 and Beyond
May 11, 2017 in DC
EBRI [Employee Benefit Research Institute]

Disruption in Washington: Impact on Benefits and Compensation
May 12, 2017 in CA
Morgan Lewis & Bockius LLP

Offering the Right Mix of Medical Plan Choices
May 15, 2017 WEBCAST
Fidelity Health Marketplace

What Employee Benefit Plan Professionals Need to Know about Cybersecurity
May 24, 2017 in IL
Worldwide Employee Benefits Network [WEB] - Chicago Downtown Chapter

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Senate Repeals Safe Harbors for State-Run IRA Programs
"The Senate narrowly approved a resolution Wednesday to rescind federal safe harbors for states to set up private-sector retirement programs for small businesses.... It mirrors a resolution passed by the House on Feb. 15. A similar resolution that rescinded safe harbors for cities and other large political subdivisions was passed by both chambers and signed on April 13 by President Donald Trump, who is expected to sign the state version shortly."
Pensions & Investments


Multiple Employer Plans (MEPs)

Sponsored by ASC

Keep up to date on the rules that impact the administration of Multiple Employer Plans (MEPs). Join John Griffin, J.D., LL.M. on May 18th for a webcast concerning the rules and regulations applicable to MEPs & earn 2 CE Credits. Register Now!

Protecting Your Qualified Retirement Plan Now That the IRS Determination Program Is (Mostly) Closed
"[A] more practical solution is to continue the discipline forced by the old determination program and use that discipline for systematic reviews of ongoing compliance. This does not mean constant full-scale review, but rather setting up a system to ensure that key elements of the plan document and administration will be reviewed periodically[.]"
Proskauer's ERISA Practice Center

Are Your Target Date Funds Making You a Target?
"[A]ll too many TDFs are selected by fiduciaries simply because it is convenient, or there is some incentive, to offer their provider's funds. This makes them an easy target for class action lawyers.... These funds may be a ticking time bomb for plan fiduciaries who haven't prudently investigated and compared their plan's TDFs to other options available in the market. There are lots of differences between TDFs.... Here is a short checklist for company fiduciaries[.]"
Cohen & Buckmann, P.C.

Fiduciary Rule Delay Provides Excellent Opportunity to Negotiate Stronger Indemnities
"This delay, and the confusion swirling around if and when the DOL fiduciary rule will become applicable, is giving plan sponsors a window of time to renegotiate their contractual arrangements with their 401(k) service providers relating to investment advice. This renegotiation should include a review, and a strengthening, of the service provider's indemnification for its fiduciary investment advice."

Fiduciaries -- Look to the Law of Trusts as Your Guide
"The legislative history of ERISA explains that the law governing qualified retirement plans is tied closely to trust investment law.... Because the trust law standard underlies ERISA, the assets held in the account of participants in, say, a 401(k) plan aren't the participants' in a legal sense; rather, they actually belong to the trust. The assets are held in trust and managed by the plan trustee (whose conduct is governed by the laws of ERISA fiduciary responsibility) on behalf of the participants (and their beneficiaries) who are beneficiaries of the trust."
Morningstar Advisor


Things Have Changed Are You Up-To-Date?

Sponsored by ASPPA

Keep up to date on the latest rules and regulations with the ERISA Outline Book, THE resource for information on qualified plans. Choose from two great formats; hardcopy or online, including access to a fully searchable and cross-referenced website.

Puerto Rico Declares a Form of Bankruptcy
"Puerto Rico has roughly $120 billion of bond debt and unfunded pension obligations to restructure, which dwarfs the second-largest similar episode. When Detroit went bankrupt in 2013, it set the previous record, with about $18 billion of bond debt and retirement obligations.... [T]he governor of Puerto Rico ... petitioned for relief under Title III of a new federal law for insolvent territorial governments, called Promesa. It contains some bankruptcy provisions and has never been used before, so there is no road map to follow."
The New York Times; subscription may be required


Letter from U.S. Representatives to DOL Secretary Acosta Urging Further Delay of Fiduciary Rule
"The delay that appeared in the Federal Register on April 7, 2017, contravenes the presidential memorandum which directed a new economic analysis of the Rule and the impact it is having on the marketplace. Rather than facilitating an orderly review period, the preamble illogically concludes that the record supports applying major aspects of the Rule before the President's review and updated economic analysis are complete. This is nonsensical. Again, we strongly urge you to delay this rule in its entirety."
124 Members of U.S. House of Representatives, via American Benefits Council


ERIC Letter to DOL Supporting Protection of Employer-Sponsored Retirement Plans from State-Mandated Programs
"If states continue implementing their own mandatory auto-IRA programs, ERIC requests that the [DOL] use any and all enforcement actions at its disposal to protect plan sponsors -- that already provide an ERISA-qualified retirement plan to employees -- from burdensome compliance activities that states may impose.... We urge the [DOL] to support the preemption clauses of ERISA and ensure that states do not infringe on employers already providing a quality retirement plan to their employees."
The ERISA Industry Committee [ERIC]


The Advisor's Guide to the DOL Fiduciary Rule

Sponsored by The National Underwriter Company

Authored by ERISA experts at The Wagner Law Group, this Guide delivers a powerful combination of expert explanations and legal analysis along with vital Q&As that provide reliable, direct answers to vital questions before they arise. BENLINK for 10% discount.

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