Retirement Plans Newsletter

October 12, 2020

BenefitsLink.com logo
EmployeeBenefitsJobs.com logo
Get Health & Welfare News   ·   Get Message Boards Digest   ·   Past Issues   ·   Search

Job Openings

View job as Plan Administrator for BlueStar Retirement Services, INC.
View job as Plan Administrator for BlueStar Retirement Services, INC. Plan Administrator

BlueStar Retirement Services, INC.
Telecommute / Jacksonville FL

View job as Retirement Plan Administrator for CMC Pension Professionals Retirement Plan Administrator

CMC Pension Professionals
Telecommute / Glendale CA

View job as Distribution Specialist II for Nova 401(k) Associates Distribution Specialist II

Nova 401(k) Associates
Telecommute / Houston TX / Dallas TX / Scottsdale AZ

►View More Jobs

►Post a Job

Get Job Alerts

Newly Posted
Webcasts, Conferences


Discussions

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


[Guidance Overview]

A Retirement Plan Committee Checklist for Alternative Retirement Plan Investments

"Using guidance from the [DOL] concerning the fiduciary responsibilities of plan sponsors, including a June 3, 2020 DOL Information Letter addressing private equity investment within participant-directed retirement accounts, [this article provides] is a broad checklist of some items a retirement plan committee might consider when deciding whether to expand investment offerings." Icon to read more

Carlton Fields

[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. Learn more

Sponsored by SPARK


[Guidance Overview]

New IRS Guidance Reminds Employers About New Long-Term Part-Time Employee Eligibility Rules for 401(k) Plans

"Employers are not required to keep track of 12-month periods of service that began before plan years beginning on or after Jan. 1, 2021, for purposes of identifying [long-term part-time (LTPT)] employees. The first plan year in which an LTPT employee will be eligible to make elective deferrals is the plan year that begins on or after Jan. 1, 2024. So, there is still a while before LTPT employees will begin to be permitted to make elective deferrals, but employers need to start keeping track of hours during the 2021 plan year." Icon to read more

Porter Wright Morris & Arthur LLP

Amicus Brief of American Benefits Council to Ninth Circuit on Plan Fiduciary Liability for Miscalculation of Benefits by TPA

"Plaintiffs have no plausible allegation that the Plan's fiduciaries knew or should have known that two participants -- in a plan of over 110,000 participants -- received some incorrect benefit calculations from Alight. Imposing liability on the Plan's fiduciaries in these circumstances would amount to strict liability." [Bafford v. Northrop Grumman Corp., No. 18-10219 (C.D. Cal. Jan. 7, 2020; on appeal to 9th Cir. No. 20-55222)] Icon to read more

American Benefits Council

Benefits in General

Who You Gonna Call? Implementing a Cybersecurity Breach Communication Plan

"What's the difference between an incident response plan and a communication plan? ... Invest in your help desk, the first line of defense ... Let people know that you're on top of it ... Know when and how to escalate your response ... Letting the world know what's happened ... You can't resolve your cybersecurity breach without communication." Icon to read more

Segal

How Do Business Leaders Respond Both Managerially and Financially to Abrupt Change? (PDF)

"The intention of this article is to provide some ideas related to the questions: How does one respond to abrupt change? How does a company survive through abrupt change? How does a business continue to support its internal team, external referral sources, and clients during extreme change and uncertainty?" Icon to read more

Pinnacle Plan Design, LLC, via Journal of Pension Benefits

Executive Compensation
and Nonqualified Plans

[Guidance Overview]

Pay Ratio Disclosures: Annual Proxy Statements Filed in 2021 May Need a New Median Employee Determination

"The final rule [requires] each company to make a new determination of the company's median employee at least once every three years.... The disclosures in the annual proxy statement must describe the methodology used to identify the median employee and any material assumptions, adjustments or estimates used.... [W]hen calculating the median employee's annual total compensation, companies must use the same rules they apply to determining the CEO's annual total compensation[.]" Icon to read more

Thompson Coburn

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.

Lump Sum Payout of Vacation Pay — Considered as Compensation for 401(k) Plan Purposes?

"Is a final lump sum payment of vacation pay eligible for 401(k) deferrals and a matching contribution? We match each paycheck. Our plan excludes pay after termination. We allowed this particular employee to defer but no matching contribution was made due to an issue in our HRIS system." Icon to read more

BenefitsLink Message Boards

Filing Final 5500 for an Abandoned Plan

"We have a plan that has no assets. The proceeds were distributed in 2019. The company dissolved and the prior signer is claiming there is no one to sign the final 5500. How this should be handled?" Icon to read more

BenefitsLink Message Boards

► Subscribe to the BenefitsLink Message Boards Digest -- a free daily email of all new discussions (not just the selected few shown above). View a sample issue.

Press Releases

Most Popular Items in the Previous Issue

View COVID-19 News and Resources

BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park, Florida 32789
(407) 644-4146

Lois Baker, J.D., President  loisbaker@benefitslink.com
David Rhett Baker, J.D., Editor and Publisher  davebaker@benefitslink.com
Holly Horton, Business Manager  hollyhorton@benefitslink.com

Article submission: Online form, or email to news.editor@benefitslink.com

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