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Retirement Plans Newsletter

March 5, 2021

3 Jobs Today (scroll to view)


Exceptional Usefulness and Quality icon One Cent, Two Cents, Red Cents, Blue Cents: What Counts as Plan Compensation?

"It is amazingly common for folks to lose track of where compensation for plan purposes should come from. Between the different possible entity types, there are different ways that companies should treat compensation and pull the data for census purposes."  MORE >>

Ferenczy Benefits Law Center

COLA Freeze Not Included in Senate Version of COVID Relief Bill

"[A] substitute amendment offered by Senate Majority Leader Chuck Schumer (D-NY) removes the COLA freeze limit from the underlying bill (HR 1319).... After presumed Senate passage, the bill will need to go back to the House in order for the chamber to approve the amended Senate version."  MORE >>

American Retirement Association [ARA]

Second Circuit Reverses Order Compelling Arbitration of ERISA Fiduciary Breach Claims

"[T]he Second Circuit considered whether language in an employment arbitration agreement required the employee to arbitrate his ERISA fiduciary breach claims, which he brought on behalf of a putative class, against the employer's third-party investment advisor." [Cooper v. Ruane Cunniff & Goldfarb Inc., No. 17-2805 (2d Cir. Mar. 4, 2021)]  MORE >>

Roberts Disability Law

401(k) Plan Asset Allocation, Account Balances, and Loan Activity in 2018

"Three-quarters of participants in their twenties had more than 80 percent of their 401(k) plan accounts invested in equities at year-end 2018 ... At year-end 2018, 19 percent of all 401(k) participants who were eligible for loans had loans outstanding against their 401(k) plan accounts, unchanged since 2016."  MORE >>

Employee Benefit Research Institute [EBRI]

Pension Funding Update, February 2021

"Pension discount rates continued increasing in February, and are up almost 0.50% so far in 2021, which means lower liabilities for pension plan sponsors.... [M]ost pension plans will see at least modest improvements in their funded status for the month. Those with higher equity allocations will see the largest improvements."  MORE >>

River and Mercantile

California Public Agency Plan Administrators Need to Keep Track of Participants Before They Go 'Missing'

"[P]ublic agency plans in California are subject to ERISA-like rules and would benefit from following the DOL's recent guidance on missing participants ... [which] identified [specific] 'red flags' as indicators of a missing participant problem."  MORE >>

Best Best & Krieger LLP


2021 Federal Retirement Security Blueprint (PDF)

11 pages. "[1] Expand opportunities to save for retirement ... [2] Facilitate and expand the use of protected, guaranteed lifetime income ... [3] Preserve and promote access for retirement savers to professional financial guidance ... [4] Enhance protections to safeguard Americans from financial exploitation and fraud; and [5] Maintain and augment the current tax treatment of retirement savings"  MORE >>

Insured Retirement Institute [IRI]

Employee Benefits Jobs

View job as Retirement Plan Administrator
for Jordan & Associates Retirement Services View job as Retirement Plan Administrator
for Jordan & Associates Retirement Services

Retirement Plan Administrator

Jordan & Associates Retirement Services

Telecommute / Santa Rosa CA

View job as Retirement Plan Administration Assistant
for Jordan & Associates Retirement Services View job as Retirement Plan Administration Assistant
for Jordan & Associates Retirement Services

Retirement Plan Administration Assistant

Jordan & Associates Retirement Services

Santa Rosa CA

View job as Health & Welfare CRM & Solutions Leader
for Segal

Health & Welfare CRM & Solutions Leader


New York NY

Selected New Discussions

Fidelity Bond Required When Adult Children Are Plan Participants?

"Private-employer DC plan covers the 100% owner of the plan sponsor, the spouse and 2 adult children. Is a fidelity bond required by ERISA?"

BenefitsLink Message Boards

Too Much Allocated to Participant's Account

"In 2019 a participant in a profit sharing plan received a full allocation but they should have received only a 3% top heavy minimum. Can the excess allocation be removed from the participant's account (a brokerage account)?"

BenefitsLink Message Boards

415 vs. Catch-up (Again!)

"For 2020, participant over age 50 contributes $22k in deferrals. Compensation is $270,318.33. Match contribution is $10,812.73. Can this participant receive a profit share allocation of $30,687.27 in order to reach a total allocation amount of $63,500? Years ago I used to think the participant was limited in his total allocation amount under 415 because he only contributed $2,500 over the deferral limit of $19,500. However I was later advised that you can recharacterize the full $6,500 in catch-up to compute the 415 limit."

BenefitsLink Message Boards

Switch Recordkeepers But Keep Prior Recordkeeper's Prototype Plan Document?

"When a plan sponsor switches recordkeepers, is it able to keep the plan on the same plan document, if it's a prototype document for the replaced recordkeeper?"

BenefitsLink Message Boards

Press Releases

Ascensus Announces Completion of Truist Retirement Recordkeeping Acquisition


Webcasts and Conferences

Preventing Tax-Return Errors for Stock Comp and Stock Sales

March 11, 2021 WEBCAST

The American Rescue Plan Act of 2021 and Plan Sponsors

March 16, 2021 WEBCAST


Last Issue's Most Popular Items

SECURE Act Changes: Risks and Opportunities

HUB International

Average American 401(k) Savings, by Age


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

October Three Consulting

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

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