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Retirement Plans Newsletter

September 17, 2021

3 New Job Opportunities


DOL Proposal Throws Cold Water on Group-of-Plans Model

"The group-of-plans model, an alternative to pooled employer plans that also was established by the SECURE Act, would allow participating plans to file a single Form 5500 report annually with the DOL. But critically, the proposed regulatory change wouldn't allow a single group of plans to have a consolidated audit, which means every participating employer of a certain size would have to have an annual audit."  MORE >>

RPA Convergence

Electronic Filing Is Mandatory for PBGC Reportable Events as of Oct. 1

"Reportable event filings (Form 10, Form 10-Advance, and Form 200) will need to be prepared and submitted using the PBGC’s e-filing portal, which has been available since 2016."  MORE >>

American Retirement Association [ARA]

IRS Extends Relief for Remote Notarization Through June 2022 (PDF)

"This 12-month extension of [the relief provided by Notice 2020-42] ... is in response to continued challenges due to the COVID‐19 pandemic.... [T]he IRS expressly seeks comments regarding whether to make this relief permanent. [This article provides a] summary of the relief, along with the focus of the requested comments, ... followed by action steps plan sponsors should consider."  MORE >>

Groom Law Group, via Taxes the Tax Magazine

Handling Missing Participants: Make and Follow a Written Procedure

"Following a written policy, which provides for several methods of attempted contact, can show the DOL that the plan is making its best good-faith effort to track missing participants.... [Include] an address update form in any exit interview paperwork and [update] addresses with all plan participants at least yearly."  MORE >>

Watkins Ross

Growth in Managed Accounts Reflects Growing Desire for Customization

"The Pension Protection Act of 2006 (the PPA), the resulting increased transparency, and more than a decade of accelerating retirement fee litigation caused what many call the 'race to zero'. Many plan fiduciaries ... succumbed to pressure to offer a plan as cheap as it could be, with the focus more on driving costs low instead of driving value high. While that approach may limit a company's risk on paper, it also limits participants' potential."  MORE >>

Qualified Plan Advisors


PBI Launches CertiCensus® - The 1st Proactive Pension Plan Mgmt Solution

CertiCensus® offers continuous monitoring on each participant for always-up-to-date data, comprehensive reporting, and a full audit trail for each participant that supports Department of Labor (DOL) compliance and audit-readiness.

Sponsored by PBI Research Services

The Role of CITs in the Retirement Space

"Asset managers should take note of plan sponsors' need for more efficient and affordable ways to diversify their investment options. Part of that involves looking to the products that can help. Collective investment trusts (CITs) are a natural choice for multiple reasons."  MORE >>

Northern Trust

Employer Mandate for Offering a Retirement Plan Faces Headwinds

"The partisan divide on the proposal is a departure from the usual harmony Republicans and Democrats display when it comes to retirement security legislation."  MORE >>

Pensions & Investments

Public Agencies May Need Help 'Managing' Their Managed Account Offerings

"[M]anaged account options are becoming more and more visible in the public sector plan space, as they have in the private sector 401(k) space. Public plan fiduciaries considering this option face additional challenges to understand how they work, how they actually perform for participants, and whether they are worth the extra fees."  MORE >>

Best Best & Krieger LLP

The Unexpected Problems of FIRE

"[T]hese are the particular challenges of making [financial independence, retire early (FIRE)] work. [1] The social stigma of being a young retiree ... [2] Paying for health care ... [3] Forecasting errors and uncertainty ... [4] Room to recalibrate ... [5] Needing sources of income besides retirement accounts."  MORE >>


Employee Benefits Jobs

View job as Retirement Plan Consultant
for DWC - The 401(k) Experts Retirement Plan Consultant

DWC - The 401(k) Experts


View job as Retirement Plan Consultant
for DWC - The 401(k) Experts

View job as Employee Benefits Associate
for Willcox & Savage, P.C. Employee Benefits Associate

Willcox & Savage, P.C.

Norfolk VA

View job as Internal Sales Specialist
for Newport Internal Sales Specialist


Charlotte NC / Folsom CA

Selected New Discussions

5500 Data -- Are HCE and Key Employee Lists Required?

"Would you agree that HCE and Key Employee status is not relevant for purposes of a Form 5500?"

BenefitsLink Message Boards

Loans and Hardship Distributions Allowed from a Frozen 401(k) Plan?

"If a 401(k) plan is frozen, it's still permissible for participants to take out new loans and hardship withdrawals, correct?"

BenefitsLink Message Boards

Floor for Mandatory Withholding Requirement?

"Does anyone know if there is a floor for the mandatory Withholding requirement? I know that you don't have to issue a Form 1099-R if the distribution is less than $10, but is there mandatory withholding on the $10? If not, does anyone know what that floor would be?"

BenefitsLink Message Boards

Last Issue's Most Popular Items

Ways and Means Takes Aim at Mega-Roths and Backdoor IRAs

National Tax-Deferred Savings Association [NTSA]

New IRS Snapshots Explain Two PATH Act Retirement Plan Provisions


Agencies Propose SECURE Act and Other Revisions to Form 5500

Thomson Reuters / EBIA

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

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