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Retirement Plans Newsletter

October 8, 2021

4 New Job Opportunities 4 New Job Opportunities


Can 401(k) Plans Better Serve Their Retired Workers?

"[T]he 401(k) marketplace appears ready to take the next step, by offering its employees job-to-grave investment services. Plan sponsors perceive the flaw in their current approach, which is that upon retirement their employees must either: [1] leave the plan, [2] remain, while investing in funds that were selected for building portfolios, not drawing them down, or [3] take their chances with a target-date retirement plan. For many sponsors, none of those choices looks terribly attractive."  MORE >>



Plan Sponsor Cybersecurity Webinar - October 12

Hear from a Dept of Homeland Security CISA liaison and other top cyber experts. Educate retirement plan sponsors on how to better secure plans and employees from attacks, evaluate vendors administering employee benefits and much more. Free to attend.

Sponsored by SPARK

'Segal Blend' Withdrawal Liability Calculation Violates ERISA, Sixth Circuit Holds in Milestone Decision

"The Fund argued unsuccessfully that the Segal Blend complied with the statute's best estimate requirement. The Court rejected this attempt to shift the risk (associated with anticipated investment returns) to the withdrawing employer.... While the Fund may petition the U.S. Supreme Court for review, acceptance is unlikely in the current absence of a circuit court split." [Sofco Erectors, Inc. v. Trustees of Ohio Operating Engineers Pension Fund, No. 20-3639 (6th Cir. Sept. 28, 2021)]  MORE >>

Jackson Lewis P.C.

Trickle-Down Litigation

20 presentation slides. Topics: [1] Current litigation environment; [2] Typical allegations; [3] Best practices; [4]  Identifying when your plan is a target; and [5] Fiduciary coverage.  MORE >>

McDermott Will & Emery

Small Business Tax Incentives for Retirement Plans

"The growing emphasis on expanding retirement plan coverage, particularly among small businesses, leaves many employers asking when -- not whether -- retirement plan access will become a requirement. But establishing a retirement plan can be expensive and time consuming, especially for small businesses. Fortunately, there are some incentives in place to make establishing a plan easier for small employers."  MORE >>



Is This the Time to Harmonize the Required Minimum Distribution Rules?

"Broadening [current legislative] proposals to require Roth IRAs to comply with the same required minimum distribution (RMD) rules that now govern employee benefit plans and traditional IRAs, would better implement the common-sense policy of using tax incentives to encourage adequate retirement savings by focusing on retirement savings."  MORE >>

Law Offices of Albert Feuer, via SSRN


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

Employee Benefits Jobs

View job as Paralegal Specialist - ERISA
for Nationwide Insurance Paralegal Specialist - ERISA

Nationwide Insurance

Remote / Columbus OH

View job as 401k Documents Consultant
for Newport 401k Documents Consultant


Remote / Dallas TX / Charlotte NC / Mobile AL / Lake Mary FL / Chicago IL / AZ / CO / IA / MN

View job as Director, People & Culture
for Center for the Study of Social Policy Director, People & Culture

Center for the Study of Social Policy

Remote / Washington DC

View job as ERISA Compliance Specialist
for Qualified Plan Administrators, Inc. ERISA Compliance Specialist

Qualified Plan Administrators, Inc.

Remote / Greensboro NC

Selected New Discussions

Top Heavy Contribution Required Because Sole Key Employee Made a Salary Deferral?

"Plan is Top Heavy for 2020. The only contributions made into the Plan in '20 were by a Key employee (the only one) making a 401(k) contribution. No other Employer money was contributed. Is the employer required to make a 3% Top Heavy to all non-Key employees?"

BenefitsLink Message Boards

Top Heavy Contribution Required When All Employees Terminated Mid-Year?

"We have a plan that will be terminating in 2021 at some point. Date has not been determined. The employer has been sold to new entity. Employees were terminated 6/30/2021. The plan is Top-Heavy as of 12/31/2020. Any non-key employee who is a participant and was employed by the employer on the last day of the plan year is entitled to a top heavy minimum. Is it too simple to say the the plan is terminating as of 11/1/2021 and therefore no top heavy contribution is required?"

BenefitsLink Message Boards

'Procedural Requirements Checklist' Must Be Submitted with Form 5310?

"When filing the 5310 to terminate a plan, is there a requirement to submit and fill out the Procedural Requirement Checklist? I previously used this checklist only as a frame of reference and reminder as to what has to be filed with the 5310."

BenefitsLink Message Boards

In-Service Distribution of In-Plan Roth Conversions Prior to Age 59-1/2

"Can money be distributed from a qualified plan after an In-Plan Roth Conversion, if the Participant is not yet age 59-1/2?"

BenefitsLink Message Boards

Law Student Considers Thesis for a Paper on ERISA Fiduciary Duties

"I'm in law school writing a paper on ERISA. Possible thesis: Under ERISA, a plan administrator should have a fiduciary duty to mitigate damages to the plan when an employee files an EEOC charge alleging discriminatory practices by the employer that could result in a retroactive relief being awarded to the employee. I'm not sure if I have anything here, or if any of this is plausible or relevant. Any advice/comments?"

BenefitsLink Message Boards

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

10b5-1 Trading Plans And Other SEC Rules Advisors Need To Know

October 20, 2021 WEBCAST

DOL Cybersecurity Best Practices – Are You and Your Service Providers Secure and Audit Ready?

October 21, 2021 WEBCAST

Worldwide Employee Benefits Network [WEB] - New York Chapter

Last Issue's Most Popular Items

The New DOL Fiduciary 'Rule' for Investment Advisers and Broker-Dealers and the December 20 Deadline: The Time to Act Is Now

Faegre Drinker

What Women Facing Divorce Need to Know About Spousal Retirement Benefits

Pension Rights Center

Pension Plan Participants Largely Prevail in 'Kitchen Sink' Appeal to the Second Circuit

Kantor & Kantor

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

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