Retirement Plans Newsletter

February 28, 2019 logo logo
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Plan Account Manager II
BCG, Inc
in Cherry Hill NJ

Director, Plan Administration
Duncan Financial Group, LLC
in Irwin PA

Retirement Plan Document Specialist
in Encino CA / Telecommute

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Webcasts, Conferences

Common Benefit Plan Compliance Issues: Learn to Recognize the Audit Triggers and How to Avoid Them (for private-sector plans)
March 6, 2019 WEBCAST
Sibson Consulting

Common Benefit Plan Compliance Issues: Learn to Recognize the Audit Triggers and How to Avoid Them (for multiemployer and public sector plans)
March 6, 2019 WEBCAST
Segal Consulting

New Mortality Developments - Private and Public
March 13, 2019 WEBCAST
Conference of Consulting Actuaries

Retirement Plans Legislative Update
March 19, 2019 WEBCAST

Retirement Plan Investments: Best Practices In the Changing Landscape of DC and DB Plans
March 21, 2019 in NY
Worldwide Employee Benefits Network [WEB] - New York Chapter

Observations from Recent RFP's for 401k Recordkeepers
March 21, 2019 in GA
Worldwide Employee Benefits Network [WEB] - Atlanta Chapter

ERIC 2019 Spring Policy Conference
April 3, 2019 in DC
ERIC [ERISA Industry Committee]

Defined Benefit Plan Document Workshop [2019] - Part 1
May 20, 2019 WEBCAST
FIS Relius Education

Impact of Aging and Evolving Workforce on Retirement Programs
July 10, 2019 WEBCAST
Conference of Consulting Actuaries

►See 166 Upcoming Webcasts and Conferences

►See 1490 Recorded Webcasts


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How Healthy Will Your DC Plan Be in 2019? (PDF)

10 pages. "Plan sponsors ... should conduct ongoing plan maintenance, which includes reevaluating the fund lineup, reviewing service providers, and documenting plan administrative decisions... [S]trong governance structures can address both investment and administrative duties and actions in a way that fosters prudent decision-making and effective management. Plan sponsors should also assess the plan design and the use of different features to help participants save adequately, invest efficiently, and ultimately spend down retirement assets."


2019 SPARK National Conference -- June 4-5, Falls Church, VA

Sponsored by SPARK

The retirement services industry's leading event for top marketing, sales, administration and record keeping professionals. Comprehensive agenda is designed to meet the needs of 401(k) Plan Providers, Financial Advisors and Record Keepers.

Supreme Court Could Defend Fiduciary Decisions in Taking Up Putnam Case

"The Investment Company Institute (ICI) is urging the U.S. Supreme Court to take on a case against Putnam Investments ... ICI argues that shifting the burden of proving causation, or the lack thereof, from the plaintiff to the fiduciary ignores the ordinary default rule and the plain language of ERISA specifying that fiduciaries are liable for 'losses to the plan resulting from' a fiduciary breach." [Putnam Investments, LLC v. Brotherston, No. 17-1711(1st Cir. Oct. 15, 2018; cert. pet. filed Feb. 11, 2019, Docket No. 18-926)]

DOL Probes Fidelity Over Mutual Fund Fees

"The Labor Department is investigating Fidelity Investments over an obscure and confidential fee it imposes on some mutual funds ... The fee, which appears to have been implemented in 2016, is 'designed to ensure that each Fund Firm meets a minimum required payment to Fidelity.' By marking the charge as an infrastructure fee, the fund firms may be able to avoid disclosing it to investors."
The Wall Street Journal; subscription may be required

Andrus Wagstaff Fights Class Bid in Nationwide 401(k) Fee Suit

"The lawsuit claims Nationwide's practice of charging a flat, 1 percent fee for administrative services allowed the company to collect fees that were nearly 10 times the median fee throughout the industry. Nationwide at one point received $625 per investor, per year, for servicing a 401(k) plan covering fewer than 30 people, when a reasonable fee would have been closer to $64, according to the complaint."
Bloomberg BNA

2019 Compliance Checklist for Plans Subject to ERISA (PDF)

44 pages. "The Compliance Checklist incorporates defined benefit (DB), defined contribution (DC) and ERISA 403(b) requirements and provides information on the materials that you will need to file, filing due dates and agencies to which the filings should be made."


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2019 Compliance Checklist for Non-ERISA Plans (PDF)

"The Compliance Checklist incorporates requirements for governmental and nonelecting church plans, non-ERISA 403(b) plans, 457 plans and nonqualified executive benefit plans, and provides information on the materials that you will need to file, filing due dates and agencies to which the filings should be made."

How Can Independent Fiduciaries Help Plan Fiduciaries? (PDF)

10 pages. "Independent fiduciaries provide independent, expert advice to plan participants; permit benefit plans to take advantage of investment opportunities that may otherwise be prohibited; help relieve 'regular' fiduciaries from conflicts of interest; and insulate plan fiduciaries from liabilities.... The most common situation for hiring an independent fiduciary is when a conflict of interest arises that precludes the regular plan fiduciary from acting. In many cases a transaction might be prohibited under ERISA Section 406 unless an independent fiduciary is hired to eliminate that conflict."

Editor's Pick Forecasting Investment Returns and Expected Return Assumptions for Pension Actuaries (PDF)

38 pages. "Information included in this document is intended to illustrate how actuaries select or recommend an expected investment return assumption or assess capital market models from an outside party and may also facilitate discussion with investment professionals to better understand the basis for their assumptions."
American Academy of Actuaries

Why Borrowing from a Retirement Plan to Pay Off Debt Is a Bad Idea

"Borrowing more doesn't address the issue of how the debt was acquired in the first place.... Some retirement plans require immediate repayment of loans if you change jobs, or else the entire loan is offset against your retirement plan account balance.... [B]orrowing from a retirement plan will ultimately reduce your income in retirement. The earlier in your working career you borrow, the greater the impact; due to the time-value of money."
Cammack Retirement Group

Benefits in General

[Official Guidance]

Text of IRS Publication 598: Tax on Unrelated Business Income of Exempt Organizations (PDF)

23 pages; Feb. 26, 2019. "This publication covers the rules for the tax on unrelated business income of exempt organiizations. It explains: [1] Which organizations are subject to the tax; [2] What the requirements are for filing a tax return; [3] What an unrelated trade or business is; and [4] How to figure unrelated business taxable income."
Internal Revenue Service [IRS]

Comprehensive Guide to Creating a Long-Term Benefits Strategy

"[R]evisit and adapt areas of your program as the workforce continues to change based on economic, personal and geographical needs.... Having a financial plan for your benefits package can be a great starting point ... [E]mployers need to monitor the effects of their benefit offerings to determine if the benefits package aligns with the cost expectations for both the employee and employer.... Never underestimate the power of evaluating different funding mechanisms."
OneDigital Health and Benefits

Executive Compensation
and Nonqualified Plans

[Guidance Overview]

SEC Adopts Final Rules for Disclosure of Hedging Policies

"The new rule will require a public company to disclose whether, and to what extent, it has adopted practices or policies regarding the ability of employees, officers, and directors to engage in certain hedging transactions with respect to the company's equity securities."
Cadwalader, Wickersham & Taft LLP

A Beginner's Guide to Deferred Compensation

"For employees who do elect to participate in a deferred compensation plan there are two important choices to make -- when to take distributions and how to take them.... In most cases, these elections are difficult to change and require a five-year waiting period if changes are allowed under IRS rules governing deferred compensation plans."

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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 2019, 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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