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Retirement Plans Newsletter

October 1, 2021

8 New Job Opportunities 8 New Job Opportunities


AT&T Win Is Road Map for Defense of 401(k) Fees

"In her order, [the federal district judge] said AT&T presented 'extensive evidence' that its benefit plan committee acted prudently in monitoring the plan's record-keeping expenses. Not only did the benefits committee periodically review disclosures and invoices from Fidelity, Phillips said, it hired outside experts to evaluate the reasonableness of Fidelity's compensation and obtained a lower price for record-keeping fees after hiring Deloitte to consult on the negotiations of a new contract." [Alas v. AT&T Services, Inc., No. 17-8106 (C.D. Cal. Sep. 28, 2021)]  MORE >>

Bloomberg Law

Dismissal Motions Fail in Allstate ERISA Lawsuit

"The ruling breaks from other district court orders that have held ERISA plaintiffs lack Article III standing to bring claims regarding funds in which they did not personally invest." [Cutrone v. The Allstate Corp., No. 20-6463 (N.D. Ill. Sep. 28, 2021)]  MORE >>


Sixth Circuit Vacates Withdrawal Liability Award for Redetermination of Interest Rate and Assessment of Partial-Withdrawal Liability

"The Sixth Circuit ... found that use of the Segal Blend for withdrawal liability calculations violates 29 U.S.C. Section 1393(a)(1) because it is not 'the actuary's best estimate of anticipated experience under the plan.' ... [T]he court vacated the district court's decision upholding the arbitrator's decision which upheld the Fund's actuary's assessment of partial-withdrawal liability because the district court erred by relying on the Section 1401(a)(3)(A) presumption to uphold the Fund's determination." [Sofco Erectors, Inc. v. Trustees of Ohio Operating Engineers Pension Fund, No. 20-3639 (6th Cir. Sept. 28, 2021)]  MORE >>

Roberts Disability Law

Recordkeepers Focused on Consolidation, Financial Wellness and Micro 401(k)s

"Rather than hurting business, COVID enabled record keepers to be more efficient. Clients accepted paperless communication, and firms benefited from more digital interface, while also recognizing the power of face-to-face meetings."  MORE >>

InvestmentNews; subscription may be required


Joint Letter to IRS Requesting Permanent Extension of Remote Notarization Option

"The undersigned organizations appreciate the relief and extensions the Service previously announced due to the pandemic. We believe, however, that permanent relief is warranted, even as the pandemic abates. We believe further that it should be made available without the need for a formal rulemaking process."  MORE >>

American Benefits Council and 15 Other Employer and Industry Organizations


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

Benefits in General

[Guidance Overview]

Form 5500 Proposal Reflects SECURE Act Changes and More

"These changes include enhanced reporting for multiple-employer plans (MEPs) starting with the 2021 plan year and a new group filing alternative starting in 2022 for certain single-employer individual account and defined contribution (DC) plans. Additional changes unrelated to the SECURE Act would more broadly affect retirement and welfare plans starting in 2022. While these changes are narrower in scope than those proposed in 2016 -- but never finalized -- plan sponsors, administrators and service providers should review the proposal and consider submitting comments by Nov. 1."  MORE >>


Alert (High Risk Issue) icon Recent Court Decisions Extend the Statute of Limitations for Breach of Fiduciary Duty Lawsuits Under ERISA

"Recently, the DOL successfully argued that the Supreme Court's decision in Sulyma should serve as precedent to extend the statute of limitations for the DOL to bring fiduciary breach claims against plan fiduciaries.... The defendant [in this case] maintained that the Form 5500 filed in October of 2013 contained sufficient information to alert the DOL of the alleged breach.... [The court] held for the DOL, finding that the DOL did not have actual knowledge until it reviewed the Form 5500 in December of 2014." [Walsh v. Bowers, No. 18-0155 (D. Hawaii, Sep. 17, 2021)]  MORE >>

Verrill Dana LLP

Employee Benefits Jobs

View job as 3(16) Plan Administrator
for Atlantic Pension Services 3(16) Plan Administrator

Atlantic Pension Services

Remote / Kennett Square PA / DE / NJ

View job as 3(16) Plan Administrator
for Atlantic Pension Services

View job as Senior Implementation Manager
for Ubiquity Retirement + Savings Senior Implementation Manager

Ubiquity Retirement + Savings

Remote / San Francisco CA / AZ / CO / FL / IA / IL / KY / LA / MA / MS / NJ / NV / NY / OR / RI / SC / TN / TX / WA

View job as Senior Implementation Manager
for Ubiquity Retirement + Savings

View job as Manager Retirement Services
for Alaska Airlines - Horizon Air Manager Retirement Services

Alaska Airlines - Horizon Air

Seattle WA

View job as Manager Retirement Services
for Alaska Airlines - Horizon Air

View job as Retirement Services Consultant
for Insperity Retirement Services Consultant


Kingwood TX

View job as Retirement Plan Administrator
for Nicholas Pension Consultants Retirement Plan Administrator

Nicholas Pension Consultants

Remote / Rancho Cordova CA / Corona CA

View job as 401(k) Recordkeeping Manager
for July Business Services 401(k) Recordkeeping Manager

July Business Services

Remote / Waco TX

View job as Quality Control
for MAP Retirement Quality Control

MAP Retirement


View job as Health Communications Specialist
for Centers for Medicare & Medicaid Services [CMS] Health Communications Specialist

Centers for Medicare & Medicaid Services [CMS]

Remote / Woodlawn MD

Selected New Discussions

Money Purchase Plan Uses Defined Groups; Must List in the SPD?

"Money purchase plan, so 'individual rate groups' are not currently an option, nor do they seem to be an option in the current restatements. So plan uses 'Defined Groups' wherein all regular staff receive the same percent contribution. Owners, HCE's and other senior positions receive different defined percents which are defined by group. Does the SPD need to disclose what percent the owners and other groups receive?"

BenefitsLink Message Boards

Press Releases

Steidle Pension Solutions Announces the Launch of SPS 3(16) Administrative Services

Steidle Pension Solutions, LLC [SPS]

Industry Leading Retirement Plan Consulting Firm Acuff and Associates Celebrates 30 Years

Acuff & Associates

EBRI Welcomes New Retirement Vice Chair, Jason Jagatic

EBRI [Employee Benefit Research Institute]

Cohen and Buckmann Hires Big Law Attorney Zahava Blumenthal

Cohen & Buckmann P.C.

Complete 401(k) Solution Offers Simplicity and Helps Mitigate Risk for Retirement Plan Sponsors and Advisors

Dynamic Advisor Solutions

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

Plaintiff-Proof Your Cycle 3 DC Restatement Plan

October 19, 2021 WEBCAST

Boutwell Fay LLP

Last Issue's Most Popular Items

Employee Benefits in the Supreme Court: October 2021 Update

Eversheds Sutherland

Predicting the Future Course of Employee Benefits Litigation

DeBofsky Sherman Casciari Reynolds P.C.

Retirement Planning for Single Seniors


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

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