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Retirement Plans Newsletter

March 3, 2021

4 Jobs Today (scroll to view)


Multiemployer Pension Reform Ruled Eligible for the COVID Relief Act

"On [March 1], the Senate Parliamentarian ruled that the multiemployer pension plan bailout provisions in the $1.9 trillion American Rescue Plan (a.k.a. the latest COVID-19 relief bill) would be eligible for a simple majority vote in the Senate as part of the budget reconciliation process, and thus will remain as part of the relief bill likely to become law shortly."  MORE >>


The Benefits of Enacting a Plan Sponsor Philosophy

"[A Philosophy] serves to direct a committee's thinking in carrying out their fiduciary duties -- a constant reminder that while regulatory obligations and industry best practices need to be met and followed, they are the means to achieving a plan's purpose, not the end."  MORE >>

Portfolio Evaluations, Inc.

‘Astronomical’ Recordkeeping Fees, Branded CITs Draw Excessive Fee Suit

"This time the target is none other than the American Red Cross, sued by four of the 22,000 participants (with account balances) in the plan that had over $1.2 billion in assets at the end of 2019 (according to the suit).... [T]he suit draws in several points of comparison for the excessive fee allegation[.]" [(Tracy v. Am. Nat'l Red Cross, No. 21-541 (D.D.C. complaint filed Mar. 2, 2021)]  MORE >>

American Retirement Association [ARA]

Higher Education Institutions Turn to Retirement Plan Service Providers to Help Address Unprecedented Challenges (PDF)

"Nearly three out of five institutions report increased demand for investment and in-plan retirement income opportunities and one in four report an increased need for access to professionally managed accounts."  MORE >>


Year-End 2020 Self-Directed 401(k) Balances Up 13% Year-Over-Year Despite Ongoing Volatility and Q1 Market Lows

"Average account balances finished the year up 31% compared to the lows they experienced at the end of Q1 2020. The majority of participant assets continue to be held in equities (35%), up from Q4 2019 at 29%. Mutual funds were the second largest holding at 31%, followed by ETFs (18%), cash (14%), and fixed income (2%)."  MORE >>

Charles Schwab


Latest Information on the DOL Missing Participants Guidelines

The new guidance from the Department of Labor (DOL) on missing persons and uncashed checks may impact your organization. Join this March 23rd webinar to learn about the new guidance details and to ask questions to industry experts.

Sponsored by PBI Research Services

Best Retirement Planning Tools and Software

"Some retirement planning software has hefty initial costs or ongoing subscription fees. However, there are some retirement planning tools that may align with your needs and budget.... Here is a breakdown of these options, along with information regarding their cost and top features."  MORE >>

U.S. News & World Report

Pension Finance Update, February 2021

"Pension finance enjoyed its best month in more than three years in February, buoyed by higher stock prices and higher interest rates.... Plan A gained 5% and is now up more than 7% for the year, while the more conservative Plan B added 1% and is now up more than 1% through the first two months of 2021[.]"  MORE >>

October Three Consulting

The Advantages of Probability-of-Success-Driven Guardrails

"[W]hile software could ideally help speed up the process for advisors and provide some more relevant long-term metrics, the most fundamental advantages of the probability-of-success-driven guardrails approach involve managing shorter-term expectations[.]"  MORE >>

Nerd's Eye View

Employee Benefits Jobs

View job as Retirement Services Supervisor
for Sacramento County Employees' Retirement System (SCERS)

Retirement Services Supervisor

Sacramento County Employees' Retirement System (SCERS)

Sacramento CA

View job as Installation Coordinator
for Ascensus

Installation Coordinator



View job as VP, Sales Consultant
for Ascensus

VP, Sales Consultant


Telecommute / San Francisco CA

View job as Senior New Business Analyst
for Employee Fiduciary

Senior New Business Analyst

Employee Fiduciary

Telecommute / Mobile AL

Selected New Discussions

Safe Harbor Match Miscalculated by Payroll Provider

"A company started a safe harbor 401k for 2020. They and their payroll provider misunderstood how the safe harbor match worked.... They over-matched a participant who only deferred 1% because they gave him 4%, so his match was way more than his deferrals. Should this be moved to the forfeiture account since it wasn't supposed to ever be given to this participant, or can it be returned to the employer? I have looked at their adoption agreement and don't really see a clear answer."

BenefitsLink Message Boards

Adding a Minimum Amount Requirement for In-Service Distributions

"We've administered this non-safe harbor 401k plan for years, and now they are moving to a new asset platform that insist on using their plan document, to which we grudgingly complied. One of the provisions they say they need to have is a $500 minimum on in-service distributions and hardships.... but there wasn't a minimum in the plan before. That sounds like a cutback in available benefits to me. Am I reading too far into this?"

BenefitsLink Message Boards

Press Releases

Flimp Launches WorkforceTXT® Employee-Texting Solution for HR and Benefits Communications

Flimp Communications

Lockton and Morningstar Investment Management to Design Flexible Advisor Managed Account Services


Webcasts and Conferences

Common 401(K) Plan Errors

March 25, 2021 WEBCAST

Nova 401(k) Associates

2021 National Conference

April 20, 2021 WEBCAST

PSCA [Plan Sponsor Council of America]

2021 Qualified Plan Fiduciary Summit

April 21, 2021 WEBCAST

Qualified Plan Advisors [QPA]

Certificate Program for Non-Professional ESOP Fiduciaries

May 17, 2021 WEBCAST

Beyster Institute

Last Issue's Most Popular Items

SECURE Act Section 202's 'Group of Plans' Comes to the Forefront

Business of Benefits

Outbreak Extension Period: When Does It End?

Trucker Huss

Will the Real Retirement Income Number Please Stand Up?


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BenefitsLink Retirement Plans Newsletter, ISSN no. 1536-9587.

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