Retirement Plans Newsletter

September 9, 2020

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View job as Client Success Specialist for Ubiquity Retirement + Savings
View job as Client Success Specialist for Ubiquity Retirement + Savings Client Success Specialist

Ubiquity Retirement + Savings
Telecommute / San Francisco CA / AZ / CO / FL / IL / KY / LA / MA / NC / NJ / NV / NY / OR / SC / TN / WA

View job as Plan Administrator for Independent Retirement
View job as Plan Administrator for Independent Retirement Plan Administrator

Independent Retirement
Telecommute / Portland OR

View job as Senior Pension Actuarial Consultant for Nyhart, part of FuturePlan by Ascensus Senior Pension Actuarial Consultant

Nyhart, part of FuturePlan by Ascensus
Chicago IL

View job as Defined Benefit Plan Administrator for Nyhart, part of FuturePlan by Ascensus Defined Benefit Plan Administrator

Nyhart, part of FuturePlan by Ascensus
Indianapolis IN

View job as Defined Benefit Plan Administrator for Nyhart, part of FuturePlan by Ascensus Defined Benefit Plan Administrator

Nyhart, part of FuturePlan by Ascensus
San Diego CA

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Newly Posted
Webcasts, Conferences

The Case for an Operational Review of Your 403(b) Plan
September 15, 2020 WEBCAST
HANYS Benefit Services

What You Should Know About Your Retirement Plan
September 15, 2020 WEBCAST
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

De-Risking Trends for 2020 and Beyond
September 16, 2020 WEBCAST
Findley

New Tools for a Better Retirement: Dashboards and Tontine Solutions for Americans
September 17, 2020 WEBCAST
Brookings Institution

COVID-19 and Retirement
September 23, 2020 WEBCAST
Conference of Consulting Actuaries

More SECURE: The First IRS Guidance
September 24, 2020 WEBCAST
ERISApedia.com

IRA Required Minimum Distributions
October 6, 2020 WEBCAST
Ascensus

Mergers & Acquisitions
October 15, 2020 WEBCAST
ASC

So, You Think You're Ready for the Tricycle DC Restatements?
October 21, 2020 WEBCAST
ERISApedia.com

Nonqualified Deferred Comp 2020 Survey Results
December 10, 2020 WEBCAST
PSCA [Plan Sponsor Council of America]

►See All 118 Upcoming Webcasts and Conferences

►See All 1610 Recorded Webcasts


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[Guidance Overview]

Best Interest Standard of Care for Advisors, Part 30

"[T]he SEC requires that four factors be considered in developing a recommendation for a retail customer: the customer's investment profile, potential risks and rewards, and costs.... [O]ne approach for compliance might be to have a defined process for gathering the information, evaluating it in light of the retail customer's investment profile, and making a recommendation that bears a reasonable relationship to the information and that is in the best interest of the investor. However, that still leaves a lot of grey." Icon to read more

FredReish.com

[Sponsored]

Looking to Introduce or Expand Into MEPs/PEPs?

MEP capability has been a part of ASC's DC/401(k) Valuation, Compliance Testing, Plan Document and 5500 Systems for years. Join our very satisfied clients who have already chosen ASC to administer their MEPs. Learn More! Learn more

Sponsored by ASC


DOL Proposes Tightened Proxy Voting Guidelines

"One possible consequence of the proposal is a chilling effect on proxy voting, particularly in situations where it may be difficult to determine or prove that the subject of a vote would have a clear financial impact on the plan. Just as the DOL's proposed ESG rule may seemingly create a larger hurdle for ESG adoption in DC plans, the proposed proxy voting rule may make it more difficult for plan fiduciaries to vote on matters tied to non-economic considerations, which may or may not include ESG considerations." Icon to read more

Callan

To Vote or Not to Vote, That Is the Proxy Question for the Retirement Plan Fiduciary

"The DOL allows the fiduciary to sometimes vote and sometimes not vote. With the SEC, it's all or nothing. Does the DOL represent a more practical procedure?" Icon to read more

Fiduciary News; free registration required

Sixth Circuit Rules in Favor of PBGC in Dispute Over Termination of Delphi Corporation's Pension Plan

"[T]he Sixth Circuit conducted a detailed analysis of the statute and determined that pension plan terminations do not necessarily require a judicial adjudication.... Because PBGC had reached an agreement with Delphi regarding the termination and trusteeship of the pension plan, it had complied with the statute. The court noted that this conclusion was consistent with Second Circuit case law ... and that Plaintiffs had not cited any authority supporting their proposed interpretation, i.e., that termination of a distressed pension plan must be accomplished through court adjudication." [Black v. PBGC, No. 19-1419 (6th Cir. Sept. 1, 2020)] Icon to read more

Kantor & Kantor

Retirement Readiness May Be at Risk for People of Color

"More than half (52%) of POC say they believe they have plenty of time to save for retirement. Less than half (46%) say they have made progress with setting long-term financial goals. Less than one-third (32%) of POC are currently working with a financial professional.... [L]ess than half of POC respondents report ownership of investments and accounts that can help with retirement security. This includes participation in employee sponsored plans (48%) and ownership of accounts including life insurance (33%), IRAs (21%) and fixed or variable annuities (5%)." Icon to read more

Allianz Life Insurance Company of North America

[Sponsored]

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


Pension Plan Glidepath: An Investment Opportunity

"Plan sponsors, especially those overseeing plans with high interest rate hedge ratios, can estimate equity market levels when growth assets would be sold. Knowing today the level of where future equity transactions will happen leads to an investment opportunity now for plan sponsors. The opportunity is to monetize the future decision to sell equities through the selling of a 'call' option and collecting a premium." Icon to read more

River and Mercantile Solutions

Retirement Investment Update, September 2020

"The US stock market had its best August since 1986, with the S&P500 hitting new all-time highs led by technology stocks. Pension interest rates increased as well, offsetting the declines seen in July. Many plans will see funded status improvements over the month that are relatively larger than a typical monthly move but will most likely see them still down year-to-date." Icon to read more

River and Mercantile Solutions

NISA Pension Surplus Risk Index Rises in August

"The NISA Pension Surplus Risk index rose 0.6 percentage points in August to 7.5% due to an increase in both the interest rate and return-seeking asset volatility. The average plan funded status increased by 3.3 percentage points, to 87.3% in August from 84% in July.... The Pension Surplus Risk index, or PSRX, is a forward-looking estimate of the funded status volatility of U.S. corporate defined benefit pension plans." Icon to read more

Pensions & Investments

Executive Compensation
and Nonqualified Plans

Mitigating the Risks of Non-Qualified Deferred Compensation Plans (PDF)

"This transformation of pre-tax into after-tax -- at no increase in investment risk -- is the essential genius of non-qualified deferred compensation plans. If the caveats can be overcome, there is probably no better investment vehicle for executives who have already exhausted their opportunities under qualified plans and IRAs. This is especially true if the deferred comp plan has return options that themselves present diversified exposures to desired components of the executive's overall portfolio." Icon to read more

StockShield

Strategies for Protecting Non-Qualified Plan Accounts from Bankruptcy Risk (PDF)

"[1] Risk pooling ... [2] Rabbi trust ... [3] Laddering strategy ... [4] Limit exposure ... [5] Investment allocation ... [6] NQ plan document ... The best time to take advantage of [these strategies] is well before there are any dark clouds on the horizon. Some ... are no longer available after your employer's credit rating begins to drop." Icon to read more

StockShield

Selected Discussions
on the BenefitsLink Message Boards

► It's easy to sign up and participate in discussions! Post answers, ask questions, create custom feeds and views. Join your peers (and potential referral sources or customers)—there is no charge.

Filing Deadline for Final Form 5500 for DB Plan Having a Short Plan Year

"Can someone please offer clarification on the final filing deadline for a DB plan with short plan year and extension? The short plan year is for 2020 and the assets were  liquidated on 2/7/2020. That said, without an extension, the 5500 is due by 9/7/2020, right? Also, would the 5558 need to use a plan year end date of 9/7/2020 with an extension date of 11/22/2020." Icon to read more

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Press Releases

Most Popular Items in the Previous Issue

Text of PBGC Final Regs: Lump Sum Payment Assumptions
Pension Benefit Guaranty Corporation [PBGC]

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