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Retirement Plans Newsletter

April 5, 2021

3 Jobs Today


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 >>

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 >>


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

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


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


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.

Sponsored by SPARK and DCIIA

Benefits in General

Exceptional Usefulness and Quality icon 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

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

Employee Benefits Jobs

View job as Client Services Manager
for Pinnacle, An NPPG Company

Client Services Manager

Pinnacle, An NPPG Company

Delray Beach FL

View job as 401(k) Retirement Plan Administrator
for BDS Consulting Group

401(k) Retirement Plan Administrator

BDS Consulting Group

Worcester MA

View job as Senior Legal Content Specialist- Benefits Law
for Bloomberg Industry Group

Senior Legal Content Specialist- Benefits Law

Bloomberg Industry Group

Arlington VA

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

Press Releases

Online Actuarial Value Calculator Updated

Contribution Health

Partners Robert K. Butterfield, Marc S. Schechter, Corey F. Schechter and Paul D. Woodard Named on 2021 Super Lawyers List

Butterfield Schechter LLP

Attorney Wayne Miller Joins The Wagner Law Group

Wagner Law Group P.C.

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


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

Pension Plan Provisions in the American Rescue Plan of 2021

Watkins Ross

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


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

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