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Retirement Plans Newsletter
April 5, 2021
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► 3 Jobs Today
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Advisors and Agents Need to Gear Up for New DOL Rules on Investment Advice
"The DOL and the [IRS] are both deferring compliance with the new rules until Dec. 20 as long as the 'impartial conduct standards' are met. That means that recommendations by advisors and agents must be made to a best interest standard, with reasonable compensation and no materially misleading statements." MORE >>
InsuranceNewsNet.com
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An Updated Look at 401(k) Participant Behaviors During the COVID-19 Crisis
"[A]pproximately 3.0% of participants using retirement managed accounts stopped using their respective investment strategies during 2020 (that is, they began self-directing).... Among self-directors, ... roughly 13% changed equity allocations by more than 5% ... Participants self-directing their accounts who made allocation changes tended to move to more-conservative portfolios, especially during the first quarter of 2020[.]" MORE >>
Morningstar
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Pension Finance Update, March 2021
"Pension finances enjoyed another good month in March, capping the best quarter in memory, led by higher interest rates with stock markets playing a supporting role.... Plan A gained 4% and is now up more than 11% for the year, while the more conservative Plan B added 1% and is now up more than 2% through the first quarter of 2021." MORE >>
October Three Consulting
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When Higher Inflation Meets Your Withdrawal Rate
"The possibility -- but not the certainty -- of higher inflation embellishes the case for taking a more-conservative approach to in-retirement withdrawals than what may have been warranted before. It also argues for taking a close look at other tools at your disposal to ensure that a spike in inflation doesn't imperil your portfolio's ability to last over your in-retirement time horizon." MORE >>
Christine Benz, in Morningstar
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[Opinion]
No, Rescuing Multiemployer Pensions Won't Destroy Them
"Even for pension experts, the possibility that plans might get into trouble decades from now isn't much of a crisis, so opponents are getting creative, coming up with catastrophic scenarios they claim are both real and more immediate. These claims don't hold up very well (though explaining why gets a bit nerdy)." MORE >>
Joshua Gotbaum, for The Brookings Institution
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[Sponsor]
DCIIA / SPARK Public Policy Series
DCIIA / SPARK Public Policy Series, May 4–6, 2021 (domestic themes) and June 23–25, 2021 (global themes). Topics include: Updates from the Hill and DOL / Treasury, Workplace of the Future, Privacy and cybersecurity. Register Now.
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Benefits in General |
Arbitration of ERISA Claims: Courts Grapple with Competing Considerations (PDF)
"[Two federal circuits] have reached opposite conclusions regarding whether ERISA claims may be subject to arbitration where the arbitration clause is contained in the governing plan document. This column [reviews those decisions and] the respective arguments that may determine whether or not arbitration of ERISA disputes remains a viable avenue for plans sponsors." MORE >>
Jenner & Block, via Employee Relations Law Journal
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Executive Compensation and Nonqualified Plans |
Global Efforts to Link ESG to Executive Compensation
"If certain ESG metrics have a material impact on a business' performance ... then it follows that investors, regulators and proxy advisers will likely seek assurances that executives are incentivized to meet expectations." MORE >>
Farient Advisors, via IR Magazine
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Employee Benefits Jobs |
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Selected New Discussions |
Participant Mistakenly Allowed to Take In-Service Withdrawal Before 59-1/2 — Now What?
"Plan allows for in-service withdrawals at age 59-1/2 for deferrals and SH, and PS at NRA. Participant was told she could take an in-service withdrawal from the plan. She was not told about the age requirements. She took a $100k distribution in September and a 1099-R was issued. Problem: she's only 35. Can we retroactively amend to allow in-service withdrawals from non-elective contributions at age 34? If not, what's the correction?"
BenefitsLink Message Boards
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Press Releases |
Online Actuarial Value Calculator Updated
Contribution Health
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Partners Robert K. Butterfield, Marc S. Schechter, Corey F. Schechter and Paul D. Woodard Named on 2021 Super Lawyers List
Butterfield Schechter LLP
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Attorney Wayne Miller Joins The Wagner Law Group
Wagner Law Group P.C.
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Webcasts and Conferences (Retirement Plans or Exec Comp) |
American Rescue Plan Act of 2021 and Employee Benefit Plans: Next Steps for Plan Sponsors and Administrators
May 26, 2021 WEBCAST
Strafford
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Last Issue's Most Popular Items |
Participant Directed Investments Through Brokerage Windows: The Last Frontier, or a Trap for the Unwary?
The Wagner Law Group
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Pension Plan Provisions in the American Rescue Plan of 2021
Watkins Ross
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How to Take a Pension: A Math Formula Drives One Retiree's Choice
Kiplinger
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Copyright 2021 BenefitsLink.com, Inc. All materials contained in this newsletter are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of BenefitsLink.com, Inc., or in the case of third party materials, the owner of those materials. You may not alter or remove any trademark, copyright or other notices from copies of the content.
BenefitsLink Retirement Plans Newsletter, ISSN no. 1536-9587.
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