Retirement Plans Newsletter

January 10, 2020 logo logo
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Webcasts, Conferences

Adapting Your IRA Programs for the SECURE Act of 2019
January 17, 2020 WEBCAST
Convergent Retirement Plan Solutions

Bringing the SECURE Act into Focus for 2020
January 23, 2020 WEBCAST
The Retirement Advantage [TRA]

►See 115 Upcoming Webcasts and Conferences

►See 1443 Recorded Webcasts


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[Official Guidance]

Text of 2019 IRS Form 5500-EZ: Annual Return of a One-Participant (Owners/Partners and Their Spouse) Retirement Plan or a Foreign Plan (PDF)

"This form is required to be filed under section 6058(a) of the Internal Revenue Code. Certain foreign retirement plans are also required to file this form[.]" [Because the form is a fillable PDF, it may not open correctly in some web browsers.]

Internal Revenue Service [IRS]


DOL Update on Multiple Employer Retirement Plans

Sponsored by Lorman and BenefitsLink

Jan. 21 webinar. What are the two authorized approaches for establishing a MEP? What should an employer consider when establishing a MEP and how can an employer stay compliant? BenefitsLink discountLearn more

[Guidance Overview]

SECURE Act: What It Is and How It Could Impact You

"Naming grandchildren as beneficiaries of a retirement account will undoubtedly become less attractive.... Naming a 'conduit trust' as a beneficiary of a retirement account could have very negative results.... One possible way that an account owner could mimic the stretch payout for his or her beneficiaries is by naming a charitable remainder trust as the retirement account beneficiary."

Reinhart Boerner Van Deuren s.c.

[Guidance Overview]

403(b) Plan Restatement Deadline Is March 31, 2020 -- Check New Governance Terms Too

"Under certain circumstances, a plan sponsor can make retroactive corrections to its plan to conform the plan to changes that became effective on or after January 1, 2010. Sponsors that have not already done so should began the restatement process immediately. This is particularly true for sponsors of individually-designed plans."

Bond, Schoeneck & King

[Guidance Overview]

How the SECURE Act Could Change the Landscape for Retirement Plans and IRAs: Perspectives for Employers, Asset Managers and Insurance Companies

"Although the SECURE Act is primarily focused on helping small employers offer retirement savings vehicles for their workers, the legislation could potentially change the way that employers of all sizes structure their retirement plans. The SECURE Act also presents significant business opportunities to plan sponsors (big and small), asset managers and insurance companies. In the coming months and years, these stakeholders should look to leverage the SECURE Act to devise new types of arrangements that facilitate growth in retirement saving among workers, while harnessing economies of scale."

Ropes & Gray LLP

DC Trends Survey Highlights Plans' Focus for 2020

"Defined contribution (DC) plan sponsors continue to make fees a main priority.... [T]he already high share of sponsors acting to prevent plan leakage sharply rose, from three-quarters in 2018 to nearly 9 in 10 in 2019. In 2020, nearly two-thirds anticipate taking additional steps to prevent plan leakage -- most notably, by making the fund lineup more attractive to retirees, by restructuring loan provisions for the plan ... by encouraging rollovers, or by supporting the retention of assets."


Editor's Pick 2019 Report: Prescription for Retirement Plans Sponsored by Employers in the Health Care Sector (PDF)

29 pages. "81% of plan sponsors believe helping their employees with financial wellness is a very important or important priority for the over the next two years.... More than half of health care organizations say that their current plan provider could do more to help with employee retirement readiness and overall financial wellness.... Average NHCE participation among our sample is 67% and the average NHCE deferral rate is 8%."


Pension Funded Status Monitor, Fourth Quarter 2019 (PDF)

"The funded status of typical corporate pension plans increased in the fourth quarter by approximately 6.4% for a total-return plan, while an LDI-focused plan saw a smaller increase of 4.0%[.]"



American Benefits Council Comment Letter to Massachusetts Securities Division on Proposed Fiduciary Conduct Standard

"[If] a broker-dealer is providing recommendations to an ERISA plan or participant, but not acting as an ERISA fiduciary, the proposal imposes a fiduciary duty on that broker-dealer.... [T]he proposal would apply an entire set of new rules to ... the call centers that serve millions of ERISA plan participants."

American Benefits Council


American Benefits Council Comments to Colorado Secure Savings Plan Board on Retirement Savings Plan Options for Colorado's Private-Sector Workers

"Although we understand the concerns that have led several states and cities to explore and/or pass statutes creating a state-or city-run plan, ... the implementation of these plans ... could undermine the incentive for employers to adopt and maintain a retirement plan with employer contributions, higher contribution limits, and far more participant protections."

American Benefits Council

Benefits in General

Best Practices in Administering Benefit Claims: The Three C's

"[Be] clear, be consistent, and communicate. The key to effective benefit claim administration ultimately boils down to drafting and maintaining clear plan documents, implementing and enforcing plan terms consistently, and communicating clearly with plan participants and beneficiaries."


Executive Compensation
and Nonqualified Plans

[Guidance Overview]

IRS Publishes Proposed Regs Under Section 162(m)

"The December 20, 2019, proposed regulations incorporate most of the guidance provided in Notice 2018‑68 and further elaborate on the key terms of Section 162(m), with a number of examples."

Morgan Lewis

Very Stable Equity Incentive Plan Run Rates and Slight Decrease in Total Overhang at Most Large U.S. Companies

"According to a recent study of annual 'run rate' and 'overhang' levels among Fortune 100 companies by Meridian Compensation Partners, LLC, the annual and three-year average run rates (or share usage) for Fortune 100 companies have remained constant at 0.7%-0.8%. The median existing and total overhang at these organizations has declined slightly since 2017."

Meridian Compensation Partners, LLC

Selected Discussions
on the BenefitsLink Message Boards

Safe Harbor 401(k) Plan Wants to Change from 3% NEC to Safe Harbor Match

"We have a Safe Harbor 401(k) Plan client that currently has a three percent nonelective contribution and wants to change to a safe harbor match contribution. I referenced the EOB and it referred me to Notice 2016-16. Under Notice 2016-16 Mid-year Changes to Safe Harbor Plans and Safe Harbor Notices, I see where this might be possible but don't find any specific examples that address this scenario. I could argue either way -- for or against."

BenefitsLink Message Boards

'Paid Preparer' of Form 5330 -- Use Your Own PTIN?

"When you fill in the 'paid preparer' section of the Form 5330, do you maintain a PTIN for this purpose? Do you use the PTIN for any other purpose?"

BenefitsLink Message Boards

SECURE Act -- RMD Changes -- Amendment Needed for Plan Document?

"Does the RMD change for the SECURE Act require an amendment to adopt for plans? I know things like the $5,000 distribution for a newborn requires an amendment, but I haven't seen anything where it says if the RMD changes also need one or if it's just an automatic change."

BenefitsLink Message Boards

409A Payments Are Eligible Income for 401(k) Plan Purposes?

"409A DEFERRED income is not included in W-2 compensation for 401(k) plan purposes, right? We've got a payroll company including these deferred wages as eligible income. I could understand it if the employee was receiving taxable PAYMENTS of 409A amounts previously deferred, but this makes no sense at all for income currently being deferred."

BenefitsLink Message Boards

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Press Releases

Most Popular Items in the Previous Issue

2019 Year in Review (PDF)
ABD Insurance & Financial Services, 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

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BenefitsLink Retirement Plans Newsletter, ISSN no. 1536-9587. Copyright 2020, 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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