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Retirement Plans Newsletter

June 4, 2021

3 New Job Opportunities


John Hancock Settles ERISA Lawsuit for $14 Million

"The settlement also provides an agreement that John Hancock will hire a third-party investment consultant to provide ongoing monitoring and review of the investment options for at least five years from the settlement effective date, will develop an investment policy statement for the plan, and hire a consultant to assist with issuing a request for information for record-keeping services."  MORE >>

Pensions & Investments

Helping Sponsors Speak in the New Retirement Income Tongue

"DCIIA hopes its new retirement income glossary will help sponsors ask important questions, such as, 'Do we want to keep retirees in the plan?' ... The glossary also includes a section giving detailed, easy-to-understand information on the various types of annuities."  MORE >>

PLANSPONSOR; free registration may be required

Corporate Pension Funds See Modest Improvement in May

"The funded status of the total-return plan rose 0.4% as strong equity performance continues to drive funded status upwards. The funded status of the LDI-focused plan was up 0.6%, as gains from equities and credit exceeded liability growth. The plan is 88% hedged as of May 31."  MORE >>


State of the Insured Retirement Industry: 2020 Review and 2021 Outlook (PDF)

24 pages. "2020 was an extraordinarily challenging year for the retirement income industry.... However, ... operationally the industry made more progress toward modernization and electronic processing in one year than in the prior several ... 2021 should prove to be a year of increasing annuity sales, progress toward better retirement policy, and movement closer to a fully digital experience for advisors and consumers."  MORE >>

Insured Retirement Institute [IRI]


ARA Submits Guidance Priorities to IRS

"The ARA list of items begins with the guidance projects that are most important or immediate to ARA members.... The top five are: [1] Guidance on American Rescue Plan Act implementation ... [2] Guidance regarding coronavirus pandemic relief ... [3] Guidance on SECURE Act provisions ... [4] W-4P and W-4R reporting ... [5] Employee plans compliance resolution system (EPCRS)."  MORE >>

American Retirement Association [ARA]

Benefits in General

Greater Interest in Employee Benefits the 'Silver Lining' of COVID-19

"[Key trends include:] A renewed interest in 'bedrock benefits' such as health insurance, group life insurance and disability insurance.... Technology to tailor the benefits experience and digital tools to support open enrollment. Three-quarters of employers surveyed said they expanded or added paid time away from work. Among those who gave their workers more time off, 46% added medical leave, 39% offered family leave and 30% added parental leave."  MORE >>

Executive Compensation and Nonqualified Plans

Executive Pay Growth During the Pandemic Faces Scrutiny

"As the annual period when public companies issue their proxy statements and hold nonbinding shareholder votes on executive pay packages (commonly known as say on pay) got underway in April, there were signs of shareholder impatience with some executive pay practices used in 2020 during the height of the pandemic."  MORE >>

Society for Human Resource Management [SHRM]; membership may be required to view article

Employee Benefits Jobs

View job as Retirement Plan Administrator (Account Manager)
for Kushner & Company Retirement Plan Administrator (Account Manager)

Kushner & Company

Telecommute / Portage MI

View job as Retirement Plan Administrator (Account Manager)
for Kushner & Company

View job as Plan Implementation Coordinator
for The Retirement Plan Company (TRPC)/an ABG firm Plan Implementation Coordinator

The Retirement Plan Company (TRPC)/an ABG firm


View job as Retirement Plan Consultant
for Leading Retirement Solutions Retirement Plan Consultant

Leading Retirement Solutions

Telecommute / Seattle WA

Selected New Discussions

5500 Must Be Filed for New Plan That's Had No Contributions?

"Client established a safe harbor matching plan in 2020 but nobody (owners or other employees) made any contributions in 2020. Some employees are eligible but beginning and ending balances are $0. Client doesn't believe a 5500 should be filed; I think it does because people were eligible. Agree?"

BenefitsLink Message Boards

What Valuation Date for Short Cash Balance Plan Year Due to Plan Termination?

"Small non-PBGC cash balance plan used a 12/31 valuation date. Froze 3/31/20, terminated 5/31/20, assets all out on 8/12/20. So I'm prepping final report and SB for actuary to sign ahead of 6/15 extended deadline. Is 8/12 an okay valuation date to use?"

BenefitsLink Message Boards

Webcasts and Conferences
(Retirement Plans or Exec Comp)

SECURE Act Video Series: IRA Amendments



Protecting Your Employee Benefits Plan from Cybersecurity Threats: What Does the Us DOL's Guidance Mean for Plan Fiduciaries?

June 15, 2021 WEBCAST

McDermott Will & Emery LLP

2021 Annual Education Conference: The Future of Benefits is Here

September 23, 2021 in GA

Southeast Benefits Education Network [SBEN]

Last Issue's Most Popular Items

5500 Filing Rejected! How Could Plan Sponsors Have Known Their Auditor Was Deficient?

Belfint Lyons Shuman

Survey Results: Common Retirement Plan Committee Practices (PDF)

Plan Sponsor Council of America [PSCA]

Missing Participants: What Comes Next?

American Retirement Association [ARA]

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

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