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Retirement Plans Newsletter

April 2, 2021

2 Jobs Today


[Guidance Overview]

Pension Plan Provisions in the American Rescue Plan of 2021

"EPPRA restores financial health to ... about 15% of all multiemployer plans.... This one-time payment does not need to be paid back; however, some strings are attached such as investment guidelines on the cash infusion.... Single Employer Plans struggling to make the minimum required contributions will find two provisions of the new law that will greatly reduce their contribution burden."  MORE >>

Watkins Ross

Participant Directed Investments Through Brokerage Windows: The Last Frontier, or a Trap for the Unwary?

"The realm of ERISA plan investments through these arrangements remains largely uncharted territory. Fiduciaries operate under the broad understanding that ERISA Section 404(a) fiduciary duties of prudence and loyalty apply, but with little guidance on how."  MORE >>

The Wagner Law Group

The Line Between Education and Fiduciary Advice

"The DOL provides examples of investment education in [Interpretive Bulletin 96-1] that, when delivered, would not be considered investment advice, thereby helping the educator to avoid fiduciary liability for the information. However, the act of selecting the individual or entity to provide investment education to 401(k) plan participants and beneficiaries is a fiduciary act, subject to the standards of loyalty and prudence."  MORE >>

Retirement Learning Center, LLC

Rep. Neal Reintroduces Legislation to Modify Social Security WEP Provision, Improve Public Employees' Retirement Security

"The legislation establishes a ... formula that will pay Social Security benefits in proportion to the share of a worker's earnings that were covered for Social Security purposes. This provision is coupled with a benefit guarantee ensuring no benefit cuts relative to current law for all current and future retirees."  MORE >>

Committee on Ways and Means, U.S. House of Representatives

Managed Accounts Help 401(k) Savers Prepare for Retirement

"Cerulli expects managed accounts to play a central role in retirement tiers in the coming years. Personalized investment management is more lucrative for providers. Guiding participants through budgeting, debt management and short-term saving allows providers to focus on their long-term goals."  MORE >>


How to Take a Pension: A Math Formula Drives One Retiree's Choice

"The PIR is the annual pension payment amount divided by the lump sum.... Why is the pension income ratio important? The higher the PIR, the harder it is for the lump-sum payout to beat the pension income."  MORE >>


FAS87 ASC715 Discount Rates and Moody's Rates, March 31, 2021

An unofficial monthly report of the Moody's Daily Long-term Corporate Bond Yield Averages and Moody's Daily Treasury Yield Averages (used as benchmarks by some corporate pension plans).  MORE >>

BenefitsLink Message Boards


AFL-CIO and Trade Union Slam Proposal to Change from DB to DC Program for New Florida State Employees

"The legislation (SB 84) would require new government employees to enroll in an investment-style plan rather than the current retirement system. The change could impact the benefits of Florida's more than 430,000 retirees, as well as the retirement plans of the more than 645,000 public service workers throughout Florida."  MORE >>

Florida Politics


Is It Time to Retire 'Retirement'?

"Individualized goals are nothing new to effective financial planning, ... and while the anchor of a targeted retirement date provides the illusion of a specific start (and an 'end' to accumulation), we're already in a time where such concepts are, of necessity, increasingly fluid.... [A] focus on financial freedom ... might actually be more meaningful."  MORE >>

American Retirement Association [ARA]

Benefits in General

Text of Ninth Circuit Opinion Upholding ERISA Forum Selection Clause and Denying Writ of Mandamus (PDF)

From the summary by the court: "Agreeing with other Circuits, the panel held that even though provision of 'ready access to the Federal courts' is among ERISA's goals, ERISA does not bar forum selection clauses. Thus, the plan properly designated, from among venues permitted by the statute, the venue where the plan was administered." [Becker v. U.S. District Court for the Northern District of California, Oakland, No. 20-72805 (9th Cir. Apr. 1, 2021)]  MORE >>

U.S. Court of Appeals for the Ninth Circuit

How Work-from-Anywhere Complicates Employee Benefits

"Benefits are sometimes limited or even very restricted by geography.... Keep presentations and video training shorter in duration ... [T]here are a lot of differences between states in not just taxes, but also required benefits.... [A] company's benefits administration system needs to be clear and easy for employees to understand and use."  MORE >>

BenefitsPro; free registration required

Employee Benefits Jobs

View job as Senior Compliance Analyst
for Ubiquity Retirement + Savings View job as Senior Compliance Analyst
for Ubiquity Retirement + Savings

Senior Compliance Analyst

Ubiquity Retirement + Savings

Telecommute / San Francisco CA / AZ / CO / FL / IL / KY / LA / MA / NC / NJ / NV / NY / OH / OR / RI / SC / TN / TX / WA

View job as 401(k) Administrator
for Pollard & Associates, Inc.

401(k) Administrator

Pollard & Associates, Inc.


Selected New Discussions

Confused About Appropriate Entry Date for Plan with Two-Year Service Requirement

"I'm having a hard time finding rules on the two year of service eligibility requirement. Is such a plan allowed to have semi-annual entry dates?"

BenefitsLink Message Boards

Press Releases

Illinois Mutual Releases 2020 Annual Report

Illinois Mutual

Webcasts and Conferences
(Retirement Plans or Exec Comp)

ARPA Benefits Compliance Updates and FAQ Part 1


NFP Corp.

American Rescue Plan Act: Employee Benefits Provisions

April 22, 2021 WEBCAST

Worldwide Employee Benefits Network [WEB] - New York Chapter

Demystifying the Annual 401K Plan Audit & The End of the Limited Scope Audit

April 22, 2021 WEBCAST

Western Pension & Benefits Council

M&A in Payroll and Benefits

April 28, 2021 WEBCAST

Godfrey Kahn S.C.

Last Issue's Most Popular Items

IRS Describes Top Mistakes in Voluntary Correction Program (VCP) Submissions

Internal Revenue Service [IRS]

Top Employee Benefits Issues to Watch in 2021 (PDF)

DLA Piper

Fidelity Escapes Claims Over Use of Participants' 401(k) Plan Data

Bloomberg Law

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

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