Retirement Plans Newsletter

August 24, 2020 logo logo
Get Health & Welfare News   ·   Get Message Boards Digest   ·   Past Issues   ·   Search

Job Openings

View job as 401k Relationship Manager for MVP Plan Administrators, Inc. 401k Relationship Manager

MVP Plan Administrators, Inc.
Telecommute / Cary NC

View job as Management and Program Assistant (Pathways Intern) for Pension Benefit Guaranty Corporation [PBGC] Management and Program Assistant (Pathways Intern)

Pension Benefit Guaranty Corporation [PBGC]
Telecommute / Washington DC

►View More Jobs

►Post a Job

Get Job Alerts

Newly Posted
Webcasts, Conferences

Voluntary Fiduciary Correction Program
September 3, 2020 WEBCAST
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

An Afternoon with the Department of Labor
September 10, 2020 WEBCAST
Worldwide Employee Benefits Network [WEB] - Northeast Ohio Chapter

Recognizing Prohibited Transactions
September 22, 2020 WEBCAST

Moving Forward: Building, Expanding and Strengthening Women's Retirement Security
October 2, 2020 WEBCAST
Women’s Institute for a Secure Retirement [WISER]

►See All 116 Upcoming Webcasts and Conferences

►See All 1599 Recorded Webcasts


New Topics on the BenefitsLink Message Boards

New Comments and Topics

All Topics, Grouped by Forum

This Newsletter:
Subscribe Now

BenefitsLink Health & Welfare Plans Newsletter:
Subscribe Now

Message Boards Digest:
Subscribe Now

[Official Guidance]

Text of DOL Announcement: Hearing on Improving Investment Advice for Workers and Retirees

"Notice is hereby given that [EBSA] will hold a public hearing to consider issues attendant to adopting a proposed prohibited transaction exemption on Improving Investment Advice for Workers and Retirees. Testimony will be limited to individuals or parties who submitted ... a comment or hearing request on the proposed exemption before the close of the comment period.... [T]he hearing will be held virtually and there will be no in-person testimony ... on September 3 and (if necessary) September 4, 2020 ... Requests to testify ... should be submitted to the Department on or before August 28, 2020." Icon to read more

Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]


Plan Advisor Checklist: Identifying the Best Retirement Plan Prospects

Retirement plan prospecting can be difficult. Successful advisors are targeted and focused on bringing new ideas to clients and prospects. Use this checklist to define your target audience, identify meaningful opportunities and communicate your value. Learn more

Sponsored by October Three

[Guidance Overview]

IRS Issues Proposed Regs for Qualified Plan Loan Offsets

"[The proposed regulations provide] a bright-line rule to make the determination of whether a plan loan offset is a QPLO. It also allows a plan loan offset to be treated as a QPLO (and eligible for the extended rollover period) even if the participant makes loan repayments for some period of time following his or her termination of employment, provided that the plan loan offset occurs within the first year of the termination of employment." Icon to read more

Morgan Lewis

[Guidance Overview]

DOL Issues Interim Final Rule on SECURE Act Lifetime Income Illustration Requirements

"[T]he IFR provides model language which administrators may use to explain to participants what the lifetime income illustrations mean and the assumptions used to calculate the illustrations. By using the model language (or substantially similar language), plan administrators will receive liability protection." Icon to read more

Ballard Spahr LLP

SEC Urges Firms to Take Precautions on COVID-19 Retirement Account Distributions

"Among other things, the eight-page Risk Alert ... suggests that firms consider implementing additional steps to validate the identity of the investor and the authenticity of disbursement instructions, including whether the person is authorized to make the request, and whether bank account names and numbers are accurate." Icon to read more

American Retirement Association [ARA]

Massive Settlement Struck in 401(k) Excessive Fee Suit

"In a remarkably short period, an excessive fee suit involving proprietary funds has settled for what may be the largest monetary settlement among those cases to date.... [U]nder the terms of the proposed Settlement, McKinsey (and/or its insurers) will pay a Gross Settlement Amount of $39,500,000 into a common fund for some 33,000 current and former participants." [Bhatia v. McKinsey & Company, Inc., No. 19-1466 (S.D.N.Y. proposed settlement filed Aug. 10, 2020)]  Icon to read more

American Retirement Association [ARA]

IRS Announces Dramatic Increase in User Fee for Automatic Amortization Extension

"The IRC allows a plan to receive an automatic five-year extension of the amortization period if the plan sponsor submits an application to the IRS ... The IRS is increasing the user fee for the extension from $1,000 to $6,500. The IRS has not provided any specific explanation for this very significant fee increase." Icon to read more


Three Problems Facing Today's Retirees

"Today's retirees face three unique challenges previous retirees did not: Low interest rates, potential tax risks and longevity risks. [This article examines] what makes the conditions so different, and why they drastically change the planning and investing landscape." Icon to read more


Benefits in General

Employee Benefits and Executive Compensation Attorney's Role in Corporate Transactions (PDF)

"The key is to identify all of the relevant plans, programs, and arrangements; assemble the appropriate parties to provide a thorough review and analysis of each one so that transaction agreements can be properly tailored; ensure that potential and existing liabilities are addressed; and that any related plans, documents, and agreements impacting the employees can be amended or prepared so that the transaction is a success." Icon to read more

Epstein Becker Green, via Lexis Practice Advisor

Press Releases

Most Popular Items in the Previous Issue

Text of DOL Fact Sheet: Notice of Proposed Rulemaking on Pooled Plan Provider Registration
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]

View COVID-19 News and Resources, 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

Article submission: Online form, or email to

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.

Links to web sites other than and are offered as a service to our readers; we were not involved in their production and are not responsible for their content.

Unsubscribe  |   Change Email Address  |   Privacy Policy