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January 27, 2020 logo logo
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Job Openings

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My Benefits, LLC
Daphne AL / Telecommute

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Associated Pension Consultants
Chico CA / Sacramento CA

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United Benefit Pensions Inc.
Melville NY

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IPAT Industry Pension Fund
Hanover MD

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Steidle Pension Solutions, LLC
Lebanon NJ / Telecommute

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Dubuque Bank & Trust
Dubuque IA

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Chesterfield MO

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Chesterfield MO

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ERISA Services, Inc.
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[Official Guidance]

Text of Proposed Revision of ASOP No. 4: Measuring Pension Obligations and Determining Pension Plan Costs or Contributions (Second Exposure Draft)

"This actuarial standard of practice [ASOP] provides guidance to actuaries when performing actuarial services with respect to measuring obligations under a defined benefit pension plan and determining periodic costs or actuarially determined contributions for such plans. Other [ASOPs] address actuarial assumptions and asset valuation methods. This standard addresses broader measurement issues, including cost allocation procedures and contribution allocation procedures. This standard provides guidance for coordinating and integrating all of the elements of an actuarial valuation of a pension plan."

Actuarial Standards Board

[Guidance Overview]

SECURE Act and 'Portability of Lifetime Income' -- Document Drafters Beware

"For the participant who does not have a distributable event, but the plan ceases its relationship with the insurer for whatever reason, Section 109 permits that participant to maintain that annuity by taking an 'in-kind' distribution of it.... These are incredibly substantial changes, for which there is yet little guidance-and little familiarity with in the market.... [T]hese things only work when they are treated as an in-kind distribution of a plan investment, as opposed to a benefit provided under the plan."

Business of Benefits

[Guidance Overview]

SECURE Act Changes the Retirement Plan Landscape

"Plan sponsors should immediately start considering how the changes included in the SECURE Act could impact their defined contribution (DC) and defined benefit (DB) retirement plans. [A] chart summarizes the provisions of the SECURE Act, highlights the effective dates and the types of plans affected, and provides a brief summary of the impact to retirement plan sponsors and participants."

Cammack Retirement Group

2019 Mortality Table and Improvement Scale Updates

"The difference to Scale MP-2019 from Scale MP-2018 is that the 2017 data has been added to the historical United States population mortality experience that is incorporated into the model.... Because 2017 data primarily indicated low or negative mortality across the United States, this data might potentially cause pension liabilities to decrease when plan sponsors update from Scale MP-2018 to Scale MP-2019 and start to use Pri-2012 base mortality rates."

Schneider Downs

Illinois Towns Spending 33% of Property Taxes on Pensions

"[T]he amount of money 42 suburbs contributed to pension obligations in 2018 was equal to more than a third of what those towns received in property taxes. ... Many suburbs in the analysis pay into three pension programs ... Collectively, the 74 suburbs in the analysis received more than $910 million in property taxes in 2018, according to state financial records. Those suburbs spent almost $309 million on pensions."

Chicago Daily Herald

Why Your 401(k) May Not Be Enough

"[Some] retirement savers [may want to] consider permanent life insurance like a whole life policy that guarantees not just financial protection for your loved ones, but a cash value component that can be tapped tax-free in case of emergency."


2020 401(k) ERISA Retirement Plan Compliance Calendar

"[This calendar] highlights the critical compliance deadlines for ERISA 401(k) defined contribution retirement plans.... [T]here may be additional deadlines for specific plans that are not covered here. Plans with non-calendar plan years may be subject to different deadlines."

Cammack Retirement Group

2020 403(b) Retirement Plan Compliance Calendar

"[This calendar] highlights critical compliance deadlines for defined contribution retirement plans. While all major dates are included, ... there may be additional deadlines for specific plans that are not covered here. Plans with non-calendar plan years may be subject to different deadlines."

Cammack Retirement Group


Blacklisted: How the NTSA Stifles Dissent

"The real issue here is that the NTSA doesn't want my voice heard.... An organization that is under the American Retirement Association should encourage outside thinkers, not stifle their voice.... Keeping me out of the conference leads me to believe there are things that might be said out loud that they'd rather the public not hear. This should disturb every member of the American Retirement Association."

The Teacher's Advocate

Executive Compensation
and Nonqualified Plans

Editor's Pick Analysis of 2019-2020 Executive Change in Control Arrangements of the Top 200 Companies (PDF)

24 pages. "[T]his study analyzes the benefits received by the CEOs and CFOs at 200 public companies  ... [The] findings are intended to provide an overview of the current environment and identify market trends with regard to executive change in control arrangements. Observations and comparisons are made between this study and ... 2015 and 2017 studies, as appropriate."

Alvarez & Marsal

Selected Discussions
on the BenefitsLink Message Boards

Issues Surrounding 457(f) Plan Termination

"What are the considerations regarding terminating a 457(f) plan? I'm aware that we need to be concerned with presumption of a substantial risk of forfeiture. Are there guidelines? Let's say, for example, scenario 'A'  -- the organization voluntarily terminates the Plan. Scenario 'B' -- the organization is actually ceasing operations (perhaps because they lost their primary grant). What are the rules?"

BenefitsLink Message Boards

Effect of Life Insurance on Eligibility to Use Form 5500-SF

"We have a client with a profit sharing plan that includes two life insurance policies. Can they still file Form 5500-SF or do they have to file full 5500?"

BenefitsLink Message Boards

Two Questions on 2020 JBEA Renewal

"[1] Are we expecting a faster response on renewals since they can be submitted through [2] Must we wait until 4/1/2020 to use the 20-prefix or should we start using it as soon as our application is filed (assuming of course that we meet all relevant criteria)?"

BenefitsLink Message Boards

Consequences of Prohibited Transaction in IRA

"Is there ANY correction for this or does the IRA simply cease to be tax-exempt?"

BenefitsLink Message Boards

UBTI on Qualified Plan Asset

"Does the unrelated business income tax affect shares owned by an accredited investor/participant in a limited partnership inside his qualified plan? Does the result automatically make the gains in the investment taxable even though held in a qualified plan?"

BenefitsLink Message Boards

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Press Releases

Most Popular Items in the Previous Issue

Generation X: How to Retain These Key Workers (PDF)
Welltok; free registration required, 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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