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Retirement Plans Newsletter

March 4, 2021

2 Jobs Today (scroll to view)


[Guidance Overview]

SECURE Act Changes: Risks and Opportunities

"Some changes are required, others are optional. Some provisions have tight deadlines. Others give you more breathing room. And, relevance depends on your plan and its pool of participants and variations like numbers of full- to part-time workers."  MORE >>

HUB International

[Guidance Overview]

Retirement Spotlight: IRS Regs Address Tax on Unrelated Businesses in Plans

"This guidance may affect only a relatively small portion of tax-exempt retirement plans.... [T]hese final regulations may help simplify administration and reporting requirements for what are usually considered to be more complex investments."  MORE >>


Single Employer DB Funding Relief in the American Rescue Plan Act: Technical Issues Presented by Current Proposal

"Although many sponsors will welcome the funding relief in ARPA, in its current form that legislation does present some technical issues, mainly due to the early/retroactive effective dates of some proposals."  MORE >>

October Three Consulting

How Pre-Retirees Can Overcome the COVID-19 Crisis

"Managed account services may also include retirement income planning and payout strategies. It's a powerful combination that may lead to better retirement results and more peace-of-mind for participants approaching retirement."  MORE >>


Evaluating Target Date Funds Is a Fiduciary Responsibility

"Many fiduciaries responsible for selecting their 401(k) plan's target date funds don't understand how these funds work.... Lawsuits challenging target date fund selection are on the rise, and plan fiduciaries need to be able to defend their choices in response to these suits."  MORE >>

Cohen & Buckmann, P.C.

De-Risking in 2021, Part 2: The De-Risking Decision in the Context of Rising Interest Rates

"If this relationship between (older, lower) lump sum valuation rates and current rates continues for the rest of 2021 ... paying out a lump sum in 2022 will generally be a 'better deal' for the sponsor than paying it out in 2021. And second, if a lump sum is paid out in 2021, the additional cost (resulting from the use of the older, lower valuation rate) will show up as an increase in balance sheet net liabilities."  MORE >>

October Three Consulting

Oklahoma Latest State to Consider Employer-Mandated IRA

"Under the proposal, employees would be automatically enrolled in the program at a default contribution rate of 3%. Employees would be able to opt out of the plan."  MORE >>

Pensions & Investments

Cash Balance Plans for Owner-Only Businesses

"There are over 26 million owner-only businesses in the nation today.... Consistently profitable owner-only businesses are uniquely suited for cash balance plans, as well as traditional average pay defined benefit plans."  MORE >>

Manning & Napier

Average American 401(k) Savings, by Age

"[By] the fourth quarter of 2020, the average person in their 20s had $15,000 saved in their 401(k), with that number then jumping to $50,800 for Americans in their 30s. For people in their 40s, 401(k) savings reached an average of $120,800, with that number getting all the way to $203,600 for those in their 50s."  MORE >>


Employee Benefits Jobs

View job as Relationship Manager
for Newport

Relationship Manager


Telecommute / CA

View job as Plan Administrator for Retirement Plans
for Dana Consulting Group, Ltd.

Plan Administrator for Retirement Plans

Dana Consulting Group, Ltd.


Selected New Discussions

'Signature' Feature in Adobe and Other PDF Software

"I'm just discovering the 'signature' feature in my PDF software (I use Kofax f/k/a Nuance). I am curious to know if we can tell clients it's OK to sign plan documents using this feature. From my brief readings what I am finding is that it is actually much more secure than a regular ink signature because the signature itself is able to tied back directly to the signers own credentials (some crazy encryption-like key). I'm curious to know if anyone has ever researched this or has found an article about its use in legal documents, whether the IRS will accept it, etc."

BenefitsLink Message Boards

Earnings and Losses on Pooled Investments Were Not Allocated to Terminated Participants

"I recently took over the admin of a pooled profit sharing-only plan. And as it seems with every plan I start to work on, there's an issue. When a participant terminates employment, they stop sharing in gains (or losses). For example, there's a terminated participant whose balance hasn't changed since the 6/30/2014 plan year end. I looked through the document (it's the lovely Datair IDP) and I can't find any language confirming whether that's right or wrong. Assuming the plan is administered consistently, is it OK to NOT allocate earnings to terminated participants who still have balances?"

BenefitsLink Message Boards

Press Releases

Quantum Health Receives 2021 Stevie® Award for Customer Service Excellence

Quantum Health

Hub International Acquires the Assets of Texas-based Wellspring Insurance Agency, Inc.

HUB International

Betterment's 401(k) Partners with Zenefits to Strengthen Retirement Readiness and Financial Wellness for Small and Mid-sized Businesses


Webcasts and Conferences

ERISA Litigation Update: Recent ERISA Lawsuits and Their Impact on Plan Fiduciaries and Service Providers

March 10, 2021 WEBCAST

Western Pension & Benefits Council

2021 National Conference

April 19, 2021 WEBCAST

PSCA [Plan Sponsor Council of America]

Last Issue's Most Popular Items

Multiemployer Pension Reform Ruled Eligible for the COVID Relief Act


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

American Retirement Association [ARA]

Best Retirement Planning Tools and Software

U.S. News & World Report

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

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