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Retirement Plans Newsletter

March 23, 2021

6 Jobs Today


[Official Guidance]

IRS Draft Instructions for Form 5310: Application for Determination for Terminating Plan (PDF)

Mar. 22, 2021. "What's New: The form and the instructions have been updated to be completed on as of April 16, 2021."  MORE >>

Internal Revenue Service [IRS]

[Official Guidance]

Text of IRS Notice 2021-22: Weighted Average Interest Rates, Yield Curves, and Segment Rates for March 2021 (PDF)

"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates ... and the 24-month average segment rates ... [as well as] the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate ... This notice does not provide 24-month average segment rates determined ... reflecting the modifications made by Section 9706(a) of [ARPA]. Those rates will be provided in future guidance."  MORE >>

Internal Revenue Service [IRS]

[Guidance Overview]

Stimulus Package Provides Respite to Single-Employer Pension Plans

"The new discount rates are projected to be significantly higher than current stabilized rates (90% of 25-year average) and the current market rates. In 2021, the discount rates would be 0.7% higher based on a sample plan."  MORE >>


[Guidance Overview]

Exceptional Usefulness and Quality icon Comparison of Retirement Programs Available to Church and Church-Related Employers (PDF)

15 pages. "This chart compares retirement programs that are 'tax-qualified' under the Internal Revenue Code.... This chart covers the general rules that apply to each of these types of retirement programs to provide context.... [R]ules that apply only to church and church-related employers are bolded in red."  MORE >>

Ice Miller LLP

[Guidance Overview]

Best Interest Standard of Care for Advisors, Part 42

"[A]ll of a plan's investment options must be considered in a prudent (or 'best interest') process [of recommending a rollver]. That raises a number of interesting questions. For example, how can an investment professional get that information? ... [H]ow should the investment professional consider the plan investments that are not being used by a participant?"  MORE >>

Emerging Theories of Liability in ERISA Litigation and Lessons Learned for Plan Fiduciaries (PDF)

36 presentation slides. Topics: [1] participant data claims; [2] fraud and cybersecurity; and [3] lessons learned & fiduciary best practices.  MORE >>

Trucker Huss

State of the Participant 2021

13 pages. "[This paper includes] illustrations and commentary covering: [1] the state of retirement readiness in one of history's most unusual and challenging years; [2] trends in participant saving and investing; [3] tools and approaches that are helping participants reach their goals; [and] [4] specific tips for optimizing your approach and helping more of your participants create an appropriate retirement income."  MORE >>

John Hancock

How Auto-IRAs Help Retirees Delay Claiming Social Security

"[W]orkers who invested 6% of their wages in auto-IRAs could delay claiming Social Security benefits for a year or longer. This deferral has the potential to increase their monthly and annual benefits by 7%-8% a year for life."  MORE >>

The Pew Charitable Trusts

Three Ways You Could Lose Your Pension, and How to Save It

"This article describes the laws that should keep your promised benefits safe, some limitations of those laws, and what you can do to protect yourself."  MORE >>

Report Door


Phyllis Borzi Speaks Frankly on ESG, PEPs, Fiduciary Rule and Projected Income Mandate

"Our friends across the Pond and around the world are far ahead of us in their analysis of ESG issues.... [With PEPs, DOL was] concerned that what appeared to be going on was not a growth in new plans but a conversion of existing 401k plans to these less stringent legal structures[.]"  MORE >>

Fiduciary News; free registration required


Rethinking Public Employee Retirement Plans

"[O]ut-of-control public pension debt is a significant problem. But it's also a problem if states replace them with poorly designed defined contribution retirement plans that don't offer employees the retirement security or income they think they'll have. Neither issue should be ignored."  MORE >>

Reason Foundation

Benefits in General

[Guidance Overview]

Employee Benefits Relief in the American Rescue Plan Act of 2021

"[E]mployers need to balance [the] broadened credits and expanded use against the loss of workers and the administrative burden of claiming FFCRA Credits ... It is uncertain how Special Financial Assistance received by a multiemployer defined benefit pension plan will impact the plan's individual participating employers."  MORE >>

Nelson Mullins

Senate Confirms Marty Walsh as Labor Secretary

"The U.S. Senate voted [on March 22] to approve the nomination of Marty Walsh to the role of Labor Secretary, nearly two months after his confirmation hearing.... Relatively little of the hearing's airtime, either on the part of Walsh or the questioning senators, was dedicated to retirement security issues."  MORE >>


M&A Benefits: How to Avoid an Employee Benefits Train Wreck in Your Next Deal

"With a little planning, target companies and acquirers can smoothly transition employee benefits.... For health plans, [these questions] should be answered in advance of the closing ... There are similar questions for retirement plans."  MORE >>

Employee Benefits Law Group

Executive Compensation and Nonqualified Plans

Tax Returns Involving Nonqualified Deferred Comp: What You Need to Know in 2021

"Distributions from NQDC plans, as well as salary income, are now reported as part of income on Line 1 of Form 1040.... The IRS has still not finalized the Section 409A rules on W-2 reporting."  MORE >>

Employee Benefits Jobs

View job as Supervisor, Defined Benefits Combo Cash Balance Consultant
for Loren D. Stark Company (LDSCO) View job as Supervisor, Defined Benefits Combo Cash Balance Consultant
for Loren D. Stark Company (LDSCO)

Supervisor, Defined Benefits Combo Cash Balance Consultant

Loren D. Stark Company (LDSCO)


View job as Benefits Specialist
for Air Line Pilots Association

Benefits Specialist

Air Line Pilots Association

McLean VA

View job as Defined Contribution Administrative Support
for The Angell Pension Group, Inc.

Defined Contribution Administrative Support

The Angell Pension Group, Inc.


View job as Advisory Services Manager
for Alerus

Advisory Services Manager


Telecommute / Arden Hills MN / Fargo ND / Grand Forks ND

View job as Sr Advisor Executive Compensation Products
for National Rural Electric Cooperative Association (NRECA)

Sr Advisor Executive Compensation Products

National Rural Electric Cooperative Association (NRECA)

Arlington VA

View job as Tax Group Attorney (Employee Benefits)
for Holland & Hart

Tax Group Attorney (Employee Benefits)

Holland & Hart

Denver CO / Boise ID

Press Releases

Business Roundtable Appoints Greg Adams, CEO of Kaiser Permanente, as Chair of Health and Retirement Committee

Business Roundtable

CAPTRUST Wins Pensions & Investments Eddy Award for Communication Excellence

CAPTRUST Financial Advisors

PlanMember Announces Partnership with Newport Group, Inc.

PlanMember Securities

Last Issue's Most Popular Items

The DOL Is Focusing on Cybersecurity; Plan Fiduciaries May Want to Consider Doing the Same

Morgan Lewis

How Annuities Can Fit Into a Fiduciary's Planning Process (PDF)

Broadridge Fi360 Solutions

SECURE Act's Safe Harbor for Lifetime Annuity Options Opens New Possibilities for Defined Contribution Plan Sponsors

Faegre Drinker

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

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