[Guidance Overview]

DOL Announces Non-Enforcement Policy for Regulation Requiring Fiduciary Investment Decisions to Be Based Solely on Pecuniary Factors

"While the non-enforcement policy offers real, welcome relief for investment fiduciaries ... it does not extend to private litigation risk. Until the DOL formally changes the amended rule, it will remain the law and will govern fiduciary investment decisions under ERISA."  MORE >>

Goodwin Procter

[Guidance Overview]

Impact of the American Rescue Plan Act on Single Employer and Multiemployer Pension Plans

"The effect of the modified phase-out of the interest rate corridor [for single-employer plan funding] can be seen in the graphs [in this article].... ARPA allows [multiemployer] plans to temporarily delay the designation to endangered, critical, or critical and declining status[.]"  MORE >>

Bolton

[Guidance Overview]

Single-Employer Interest Rate Stabilization/Funding Relief Included in ARPA

"Pre-ARPA (PPA) rules required amortization of shortfalls over seven years. ARPA resets all amortization bases to zero in 2022 and requires amortization of shortfalls over 15 years thereafter. Employers may elect to have this change apply in 2019, 2020, or 2021."  MORE >>

October Three Consulting

[Guidance Overview]

Multiemployer Pension Plan Changes in the American Rescue Plan Act

"Companies engaging in corporate transactions with other entities that participate in multiemployer plans will need to understand the elections made by the multiemployer plan(s), the terms and conditions of the relief provided to the multiemployer plan, and how that impacts the company."  MORE >>

Jackson Walker

[Guidance Overview]

Congress Provides Single-Employer Defined Benefit Pension Plan Funding Relief

"ARPA extends the corridor protections by continuing the 25-Year Rate methodology but implementing a revised schedule of minimum and maximum rates that will not reach the 70% minimum/130% maximum thresholds until 2030[.]"  MORE >>

Foley & Lardner LLP

Fiduciary Litigation Involving Defined Benefit Plans: What to Make of Thole v. US Bank (PDF)

10 pages. "An obvious lesson from Thole is that, however compelling a statutory claim might be, its application may not survive an interpretation of a constitutional doctrine deemed to be more restrictive than previously thought.... Thole has largely positioned defined benefit plan sponsors and fiduciaries with an immunity from fiduciary claims." [Thole v. U.S. Bank N.A., No. 17-1712 (S. Ct. Jun. 1, 2020)]  MORE >>

Epstein Becker Green, via Benefits Law Journal

GAO Report: Defined Contribution Plans: Federal Guidance Could Help Mitigate Cybersecurity Risks in 401(k) and Other Retirement Plans

"This report examines [1] the data that sponsors and providers exchange during the administration of DC plans and their associated cybersecurity risks, and [2] efforts to assist sponsors and providers to mitigate cybersecurity risks during the administration of DC plans.... GAO [recommends that DOL] formally state whether it is a fiduciary's responsibility to mitigate cybersecurity risks in DC plans [and] establish minimum expectations for addressing cybersecurity risks in DC plans." [GAO-21-25, pub. Feb. 11, 2021, released Mar. 15, 2021]  MORE >>

U.S. Government Accountability Office [GAO]

The Value of Determining a Retirement Plan's Philosophy

"[W]hile it may sound lofty, determining a sponsor's philosophy for their plan can be very instructive in strengthening the design of the plan and, as a result, improve the outcomes for participants."  MORE >>

planadviser

Retiree Income Is Higher Than We Thought

"These figures illustrate the current retirement system's ability to help most workers create a reasonable ... retirement income. The system is not perfect but it is increasingly effective at delivering adequate retirement outcomes to most workers."  MORE >>

Retirement Learning Center, LLC

How to Extract Income from a Retirement Portfolio

"Given that yields and market returns often move in different directions, ... it's advisable to take a flexible approach to generating cash flow for retirement.... Here's a look at the pros and cons of various cash-flow generating strategies that retirees might employ."  MORE >>

Morningstar

[Guidance Overview]

American Rescue Plan Saves Employers from Two Months Without Legislation

"Section 162(m) currently disallows deductions for the CEO, CFO, and top three highest paid officers. The amended section adds the next five highest paid employees to this list.... Several provisions provide funding relief for defined benefit pension plans, particularly for multiemployer plans in financially precarious situations.... Employers that sponsor self-insured plans will need to issue new and revised COBRA notices to subsidy-eligible individuals very quickly."  MORE >>

Eversheds Sutherland

[Guidance Overview]

American Rescue Plan Act Provides COBRA, Pension Funding Relief

"ARPA authorizes payment for premiums arising from COBRA coverage during the period beginning on April 1, 2021, and ending on September 30, 2021. This premium assistance is available only for certain categories of individuals who are enrolled in COBRA coverage during this period."  MORE >>

Ascensus

The 5 Ws of Lifestyle Benefits

"[L]ifestyle benefits are designed to make life outside the workplace more enjoyable, affordable, and balanced. [This article explores] the 5 'Ws' -- Who, What, When, Where, and Why -- of lifestyle benefits to explain how you can use this tool to improve your benefits package[.]"  MORE >>

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Glen Allen, Va-based TAG Advisors launches one of the first Pooled Employer Plans in the Independent Broker-Dealer space

TAG Advisors

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Multiemployer Pension Relief: How the COVID-19 Relief Bill Impacts Employers

March 16, 2021 WEBCAST

Littler

Legal Updates on Changing DOL Guidance for 401(k) Investments and Fiduciary Rule

March 25, 2021 WEBCAST

Hunton Andrews Kurth

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Principal Benefit Plan Provisions in the American Rescue Plan Act

The Wagner Law Group

Pension Changes for Single-Employer Plans in the American Rescue Plan Act

Findley

ARPA's Bailout of Multiemployer Pension Plan: Great for Some Participants, But Not So Good for Taxpayers and Employers

Miller Johnson