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Retirement Plans Newsletter

October 22, 2021

7 New Job Opportunities 7 New Job Opportunities


[Guidance Overview]

DOL Proposed Rule Signals More Ease for ESG Investing

"The Proposed Rule includes five key changes from the 2020 Rule: [1] De Facto recognition of ESG as material to investment risk and return. [2] Pecuniary factors test now the risk-return test (and ESG counts). [3] Tie-breaker test redrafted to be broader and easier. [4] QDIAs can use ESG -- and no special rules for DC Plans. [5] Mostly back to old proxy voting rules."  MORE >>

Morgan Lewis

What Plan Sponsors Need to Know About Service Provider SOC Reports

"[Service Organization Controls (SOC)] reports provide plan sponsors with information that can be useful in selecting new service providers or evaluating the effectiveness of service providers currently being used. SOC reports can also give plan sponsors more insight as to how various service providers perform their functions ... [enabling] the plan sponsor to proactively identify potential deficiencies before they create major problems for the plan."  MORE >>


Window of Savings Opportunities with Backdoor Roth IRAs

"For employees who have more money to save after contributing the annual maximum to their 401(k)/403(b) accounts, your company's retirement savings plan may provide a route to the mega backdoor Roth strategy if: [1] The 401(k)/403(b) plan allows after-tax contributions, and [2] In-plan Roth conversion option is allowed in the plan, or In-service distributions or withdrawals that are not hardship withdrawals from the plan to a Roth IRA are permitted This savings tactic comes with a variety of risks."  MORE >>


Unclaimed Retirement Benefits: How to Find Them

"Baby boomers have worked an average of 12 jobs, according to the U.S. Bureau of Labor Statistics. During each job change, retirement accounts can get lost in the shuffle. Eventually, some employees may forget about these accounts completely."  MORE >>

MSN News


Non-Commission Annuities: The 'New' Fiduciary Annuity Trap

"Annuity companies have recently been touting 'no-commission' based annuities as way to get around the fiduciary issues involving annuities.... What the annuity companies do not explain to investment fiduciaries is that the issue with fiduciaries recommending/selling annuities is not so much the commissions as it is the inherent 'fundamental fairness' issues with annuities and the fiduciary duties of prudence and loyalty."  MORE >>

The Prudent Investment Fiduciary Rules


Your New Woke 401(k)

"While Democrats in Congress negotiate over trillions of dollars in new spending, the Biden Administration is quietly advancing its agenda through regulation. Witness a little-noticed proposed rule last week by the [DOL] that will add new political directives to your retirement savings. The Administration says the rule will make it easier for retirement plans to offer 401(k) funds focused on ESG objectives. In fact, the rule will coerce workers and businesses into supporting progressive policies."  MORE >>

Editorial Staff of The Wall Street Journal; subscription may be required

Employee Benefits Jobs

View job as Client Compliance Counsel
for Gallagher Client Compliance Counsel


Philadelphia PA / CT / DE / MA / NJ / NY / RI

View job as Client Compliance Counsel
for Gallagher

View job as Retirement Plan Administrator
for Excellent TPA Retirement Plan Administrator

Excellent TPA


View job as Pension Administrator
for National Administration, Inc. Pension Administrator

National Administration, Inc.

Remote / Menasha WI

View job as Pension Administrator
for National Administration, Inc.

View job as Product Management Specialist - Advisor & Administration Services
for American Trust Product Management Specialist - Advisor & Administration Services

American Trust

Remote / Lexington KY / Dubuque IA / Cordova TN

View job as Associate Attorney
for Potts-Dupre Hawkins & Kramer, Chtd. Associate Attorney

Potts-Dupre Hawkins & Kramer, Chtd.

Washington DC

View job as Legal Assistant/Paralegal
for Witman Stadtmauer, P.A. Legal Assistant/Paralegal

Witman Stadtmauer, P.A.

Florham Park NJ

View job as Installation and Conversion Consultant
for PAi Retirement Services Installation and Conversion Consultant

PAi Retirement Services

Remote / De Pere WI / AL / AZ / CO / IA / ID / KS / MA / MI / MN / NC / ND / NJ / PA / SD / TN / TX

Selected New Discussions

Participant's Ex-Spouse Obtains a QDRO But It's Never Filed with Plan Administrator

"A participant's ex-spouse is awarded half of the participant's retirement account pursuant to a QDRO. The QDRO is never filed with the plan administrator. Participant terminates employment and takes his entire account balance. Can the ex-spouse sue the participant to recover the amount due to her under the QDRO?"

BenefitsLink Message Boards

Is Vacation Pay Counted as Comp?

"Plan has no exclusions to compensation. Employer did vacation day buyback, but did not withhold 401(k) deferrals. Were they required to?"

BenefitsLink Message Boards

Press Releases

Definiti Expands Operations into California and Southeast

Definiti LLC

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

401k Plan Features That Can Help Your Employees Live Financially Free!



Time to Tidy-Up Plan Documents


Williams Mullen

Cyber (in)Security & Retirement Plans

October 28, 2021 in CA

Western Pension & Benefits Council - Orange County Chapter

Closing Workplace Gaps and Opening Doors to Employee Financial Wellness

December 2, 2021 WEBCAST


Last Issue's Most Popular Items

DOL Proposes Form 5500 Updates, New ESG Regs

Ferenczy Benefits Law Center

401(k) Plan Year-End Top 10 List

Foley & Lardner LLP

New Bill Could Throw a Monkey Wrench Into Retirement Planning

Forbes; subscription may be required

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

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