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Retirement Plans Newsletter

April 26, 2021

6 New Job Opportunities


[Official Guidance]

Online Premium Filing With My PAA

"The new and improved version of My PAA is now available and ready to accept electronic premium filings for plan years beginning in 2021. Resources and training materials, including a summary of the key enhancements, are available ... PBGC encourages all premium filers to review these resources."  MORE >>

Pension Benefit Guaranty Corporation [PBGC]

[Guidance Overview]

DOL Issues New Cybersecurity Guidance Under ERISA

"The DOL guidance is multi-pronged and directed at all aspects of the retirement ecosystem. It provides guidance on cybersecurity best practices for plan sponsors, fiduciaries, record-keepers and participants and is designed to protect plan assets and reduce the risks of cybersecurity threats."  MORE >>

Dechert LLP

[Guidance Overview]

DOL Dips Its Toe Into the World of ERISA Plan Cybersecurity

"Rather than passively accepting a service providers' cybersecurity policies and procedures, the DOL's guidance states that fiduciaries have an obligation to actively inquire about (and if necessary, request changes to) their service providers' cybersecurity policies. The guidance is clear that it is no longer acceptable to merely accept what is presented by a service provider."  MORE >>

Polsinelli PC

About That Pension Check ... A Miscalculation Case with Broader Implications

"The court said that calculating pension benefits using a pre-set formula is a ministerial function, not a fiduciary function. So a miscalculation error would not create a breach of fiduciary duty claim.... [T]he Ninth Circuit rejected the notion that an online pension benefit statement request could never trigger the fiduciary obligation to respond. Finally, ... the Ninth Circuit found that ERISA does not preempt the state law claims of professional negligence asserted against the recordkeeper." [Bafford v. Northrop Grumman Corp., No. 20-55222 (9th Cir. Apr. 15, 2021)]  MORE >>

Jackson Lewis P.C.

D.C. Circuit: PBGC Has Discretion to Deny Pre-NOIT Lumpsum Distributions

"Appellant argued Section 1341(c)'s prohibition on [post-notice of intent to terminate (post-NOIT)] lumpsum distributions reflects Congress' unambiguous intent to preclude PBGC from denying pre-NOIT lumpsum distributions. The court explained that silence may signal permission rather than proscription, leaving the question open to agency discretion." [Fisher v. PBGC, No. 20-7063 (D.C. Cir. Apr. 20, 2021)]  MORE >>

Roberts Disability Law

Retirement Plan Literacy: Answers to Common Employee Questions

"I can't find the company I worked for many years ago. How can I locate the company to apply for my retirement benefit? ... My pension plan is offering me a lump sum payment. Should I take it instead of a lifetime monthly benefit?"  MORE >>

Pension Rights Center


U.S. Chamber of Commerce Comments to IRS on Permanent Relief for Remote Witnessing Procedures

"[T]he U.S. Chamber of Commerce encourages the [IRS] to make permanent the temporary relief from the physical presence requirement for spousal consents as originally announced in Notice 2020-42 and extended by Notice 2021-03."  MORE >>

U.S. Chamber of Commerce


A New Pension Model in Florida

"Pension policy and a state's fiduciary duty should not be wrapped up in political-ideological lines, but rather, a state should ask itself how it well can it currently guarantee a safe retirement for current and future employees and what methods would actually properly cover their constituents and ensure they have enough money in retirement. "  MORE >>

Institute for Pension Fund Integrity [IPFI]

Executive Compensation and Nonqualified Plans

Using Discretion Effectively in Your Annual Incentive Plan

"Discretion can be a valuable tool for compensation committees to ensure payouts are aligned with the organization's performance and strategic goals. There are some fears that discretion could allow committees to offer unjustifiable payouts, but a well-structured annual incentive plan allows committee members to leverage data to guide their decisions."  MORE >>

Meridian Compensation Partners, LLC.

Employee Benefits Jobs

View job as DC/DB Retirement Plan Administrator
for Steidle Pension Solutions DC/DB Retirement Plan Administrator

Steidle Pension Solutions

Telecommute / NJ / PA

View job as DC/DB Retirement Plan Administrator
for Steidle Pension Solutions

View job as Senior Retirement Analyst
for Dunbar, Bender & Zapf, Inc. Senior Retirement Analyst

Dunbar, Bender & Zapf, Inc.

Telecommute / Pittsburgh PA

View job as Senior Retirement Plan Customer Consultant
for PAi Retirement Services, A Newport Company Senior Retirement Plan Customer Consultant

PAi Retirement Services, A Newport Company

Telecommute / De Pere WI / Sioux Falls SD

View job as Growth Support Specialist (Entry-Level)
for PAi Retirement Services, A Newport Company Growth Support Specialist (Entry-Level)

PAi Retirement Services, A Newport Company

De Pere WI

View job as Employee Benefits Associate
for Shipman & Goodwin LLP Employee Benefits Associate

Shipman & Goodwin LLP

Hartford CT / New Haven CT / Stamford CT / Washington DC

View job as Supervisory General Attorney
for Pension Benefit Guaranty Corporation [PBGC] Supervisory General Attorney

Pension Benefit Guaranty Corporation [PBGC]

Telecommute / Washington DC

Selected New Discussions

60-Day Rollover Back Into Same 403(b) Plan

"Is there a rule prohibiting an in-service distribution from a 403b plan being rolled back into the same plan within 60 days?"

BenefitsLink Message Boards

Press Releases

Attorney Valerie McCormack Joins The Wagner Law Group

Wagner Law Group P.C.

Ascensus to Be Acquired by Stone Point Capital and GIC from Private-Equity Consortium


Webcasts and Conferences
(Retirement Plans or Exec Comp)

Four Things to Focus on Your 401(k) Right Now!

May 25, 2021 WEBCAST

Worldwide Employee Benefits Network [WEB] - Dallas Chapter

Last Issue's Most Popular Items

A Deeper Dive Into the DOL's First-of-Its-Kind Cybersecurity Guidance

Morgan Lewis

Summary of the Employee Plans Compliance Resolution System (EPCRS)

Retirement Management Services, LLC

Does DOL's Latest Investment Duties Regulation Change How Fiduciaries Are Expected to Make Investment Decisions for Employee Benefit Plans? (PDF)

The Wagner Law Group

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

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