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Retirement Plans Newsletter

August 24, 2021

3 New Job Opportunities


QPDAC, DIA, QLAC, QPDA, GLWB, FIA, VA, RILA and More: Welcome to the World of DC Lifetime Income

"Years of work from a number of different quarters seem to be finally beginning to coalesce on the notion of sanely 'decumulating' assets from DC plans. [One measure may] be the growing catalog of acronyms associated with annuities[.]"  MORE >>

Business of Benefits


SPARK Forum - November 7-9, 2021 -- The Breakers, Palm Beach, FL

3 days packed with actionable insights for advisors, recordkeepers and plan providers. Explore latest trends, strategies and ideas to lead through disruption. Join the retirement event with the most senior audience and network with purpose. Register Now.

Sponsored by SPARK

Participants Prefer Socially Responsible Funds Over Traditional Investments

"A recent Morningstar study found participants may be willing to trade in return gains for the opportunity to invest in socially responsible funds.... [A]lthough survey participants strongly favored funds with high five-year returns, they preferred funds or asset managers with both strong financial metrics and high diversity, equity and inclusion (DEI) or gender equality scores."  MORE >>

PLANSPONSOR; free registration may be required

Is the Plan Design Meeting Your Client's Goals?

"[If] an employer's goal is to optimize tax credits and increase savings opportunities, their ideal plan design might include a Safe Harbor plan. For employers who want to increase the competitiveness of their retirement plan in order to enhance recruiting and retention efforts, an effective plan design could incorporate matching contributions, emergency savings accounts and managed risk-based portfolio investment options to help employees better allocate their retirement assets and improve savings outcomes."  MORE >>

Fiduciary Benchmarks

Leveling the Retirement Savings Playing Field

"For employers looking to establish more inclusive benefits, one of the first things they should consider is analyzing their existing workforce demographics ... Another option for employers is to conduct a utilization review of their current financial wellness offering. Knowing how often a particular benefit is used ... may help the employer determine the best benefits selection and design to meet the needs of their diverse workforce."  MORE >>


Alert (High Risk Issue) icon Annuity Purchase Update, August 2021

"Some insurance companies are reaching capacity constraints and as their calendars are being filled with placements in the fourth quarter. It is imperative to act immediately for plan sponsors wishing to complete an annuity purchase this year.... PBGC premiums have increased in 2021. This raises plan maintenance costs and can make Pension Risk Transfer solutions even more appealing."  MORE >>

October Three Consulting

What DB Benefits Can Retiring Teachers in California Expect to Receive?

"While no two state plans are exactly the same, it's instructive to see what retiring teachers in California can expect from their defined benefit plan. Keep in mind that California is one of about a dozen states where teachers don't pay into Social Security."  MORE >>


Step Aside, 3(16): The 402(a) Fiduciary Is the New Flavor of the Week

"The new sales pitch is that by hiring an outsourced 402(a) fiduciary absolves itself of even more liability.... The outsourced 402(a) then hires all of the rest of the downstream service providers, which may or may not act in a fiduciary capacity.... There is a lot of smoke and mirrors in how these arrangements are sold."  MORE >>



Pension Insurer Limits Seen to Sabotage Plans' Economic Recovery

"[M]any unions and industry representatives, in more than 100 comment letters on the interim final rule, are decrying strict investment limits and disparate interest projections the PBGC set on the money plans will receive as part of the American Rescue Plan that Congress passed earlier this year. Unless those change, they say, money that was supposed to last 30 years could dry up much sooner."  MORE >>

Bloomberg Law

Benefits in General

Businesses Rely on Steady Cash Flow, Boosted Employee Benefits

"All 18 benefits tracked by the survey (everything from retirement savings to pet insurance) made gains. A greater percentage of businesses plan to increase each of the benefits in the next 12 months.... Employers are choosing certain benefits to address specific needs. Paid family or medical leave is a popular choice to attract and retain employees and improve employee satisfaction and well-being.... Six in 10 businesses currently offer financial wellness benefits or a program."  MORE >>

Principal Financial Group

Employee Benefits Jobs

View job as Senior Defined Benefit Plan Specialist
for TPS GROUP Senior Defined Benefit Plan Specialist


Remote / North Haven CT

View job as Senior Defined Benefit Plan Specialist

View job as Retirement Plan Consultant / Administrator
for Carpenter Morse Group Retirement Plan Consultant / Administrator

Carpenter Morse Group

Remote / Longwood FL

View job as Retirement Plan Consultant / Administrator
for Carpenter Morse Group

View job as Compliance Administrator II
for Associated Pension Consultants Compliance Administrator II

Associated Pension Consultants


Selected New Discussions

Do Recordkeepers Differ in What They Offer for Cybersecurity?

"Plenty of advisors are preaching to retirement plans' fiduciaries (mostly, employers) that they ought to do something about cybersecurity. Imagine an employer takes heed, and tries to follow EBSA's Tips for Hiring a Service Provider with Strong Cybersecurity Practices. Step 6 is about what a fiduciary should seek to include in (or delete from) a service provider's contract. It includes a list of five or six provisions a fiduciary should seek. But is this realistic?"

BenefitsLink Message Boards

Checks Not Issued Until Month Following Payroll Date -- What Effect on Default Date for a Participant Loan?

"Say the payroll date is 12/31. Paychecks aren't typically issued until the following week, i.e. in January. Loan repayments were stopped. Would the loan's default day (at the end of the 2nd quarter following the first missed payment) be March 31 or would it be June 30?"

BenefitsLink Message Boards

Press Releases

Transamerica Launches New Retirement Plan Exchange featuring UBS Retirement Plan Manager


LifeYield Integrates Powerful Retirement Income Optimizer with Franklin Templeton


Nicole Cervi-McKeever Joins Rebalance as Director of Retirement Services Continuing Firm's Rapid Growth in the Small Business Retirement Savings Marketplace


Webcasts and Conferences
(Retirement Plans / Executive Compensation)

Cautionary Tales for Preapproved Plan Documents


Williams Mullen

Employee Benefits and Executive Compensation Reps, Warranties, and Indemnification Clauses in M&A Deals

November 3, 2021 WEBCAST


Last Issue's Most Popular Items

DOL FAQs Provide Guidance Regarding Lifetime Income Illustrations for Defined Contribution Plans

Faegre Drinker

New 403(b) Plan Suit Says Fees Were 'Astronomical'

American Retirement Association [ARA]

The Number of Older Workers Retiring in the Pandemic Soared

National Public Radio [NPR]

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

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