|
[Official Guidance]
"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates used under Section 417(e)(3), and the 24-month average segment rates under Section 430(h)(2) ... In addition, this notice provides guidance as to the interest rate on 30-year Treasury securities under Section 417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate under Section 431(c)(6)(E)(ii)(I)."
Internal Revenue Service [IRS]
|
[Guidance Overview]
"As a result of the difference between service taken into consideration for elective deferral eligibility and service taken into consideration for vesting of other employer contributions, employers that elect to expand eligibility for employer contributions are required to track service ... over two different periods, posing potentially significant administrative burdens.... [S]maller employers with a substantial employee base of part-time workers may be newly subject to [the Form 5500 Independent Qualified Auditor's Report] requirement beginning in 2024. "
Hall Benefits Law
|
[Guidance Overview]
"[T]he DOL's regulations will provide a very rough estimate ... based on hypothetical assumptions involving the participant's age, the annuity start date and the survivor annuity percentage, as discussed below. This approach simplifies the disclosures from an administrative perspective by minimizing the participant-specific data that must be taken into account."
Kilpatrick Townsend
|
"[A recent Fourth Circuit] case highlights the dilemma of retirement plan sponsors and fiduciaries, who, as a result of a corporate transaction, inherit a plan investment fund consisting of a single class of stock that does not constitute an employer security for purposes of ERISA.... While courts are still evaluating how to handle these single stock fund cases, a plan fiduciary's potential exposure for continuing to maintain such a fund seems to turn, at least in part, on the manner in which ERISA's duties of prudence and diversification apply to the single stock fund as a plan investment option." [Quatrone v. Gannett Co., Inc., No. 19-1212 (4th Cir. Aug. 11, 2020)]
Mayer Brown
|
"While the percentage of participants taking advantage of CARES Act provisions such as distributions and expanded loan options is low, doing so may undo years of retirement savings. Solutions like financial wellness can help shape future financial behaviors when balancing and reconciling short-term needs and long-term financial goals."
T. Rowe Price
|
[Sponsored]
Virtual SPARK Forum -- Nov. 4-6
The retirement services industry's leading event for top 401(k) Plan providers, advisors, consultants, administrators & recordkeeping professionals. Join the Virtual SPARK Forum, gain expert insights and strategies to solve your most pressing challenges.
|
"Saving early and continuously during working years is difficult for many workers.... Workers face market timing, interest rate, and longevity risks when they approach retirement age.... While older Americans are the most likely to own a home, the number of Americans age 65 and older who are cost-burdened by housing costs has increased ... Healthcare costs continue to rise for all Americans, but these costs are higher for older Americans ... Long-term care costs represent an increasing challenge for many older Americans ... Creative solutions exist to address these challenges."
National Institute on Retirement Security [NIRS]
|
[Opinion]
"Although organizing public pension plans into groups can be helpful, the value of such a grouping effort lies in the reliability and integrity of the metrics that form the basis of the classification system.... Although the actuarial funded ratio is the most popular and recognized metric of a pension plan's condition, this metric, by itself, is not a reliable indicator. Gauging the condition of a pension plan by its funding ratio alone is akin to assessing a person's health solely by their heart rate, when, in fact, multiple other factors should also be considered."
National Association of State Retirement Administrators [NASRA]
|
[Opinion]
"The proposed rule is a good step in the right direction by the [DOL], but more should be done around proxy advisors' role in a process called automatic or robo-voting.... The [SEC] issued guidance on this front to asset managers in June of this year, and DOL should adopt this guidance as a part of the rule. Pensions should be, and once were, apolitical entities."
Institute for Pension Fund Integrity [IPFI]
|
|
|
|
|
|
Most Popular Items in the Previous Issue
|
|
|
|
|
BenefitsLink.com, 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
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.
Links to web sites other than BenefitsLink.com and EmployeeBenefitsJobs.com 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
|