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Retirement Plans Newsletter

November 12, 2021

4 New Job Opportunities 4 New Job Opportunities


[Guidance Overview]

The DOL's Latest ESG and Proxy Voting Proposals

"[T]he Proposed Regulations reaffirm two long standing principles for investment fiduciaries: [1] A fiduciary may not subordinate the interest of the participants and beneficiaries in their retirement benefits under the plan to other objectives ... [2] The fiduciary duty of managing plan assets that are stock includes the management of shareholder rights related to the shares, including the right to vote proxies."  MORE >>

Winston & Strawn LLP

[Guidance Overview]

Exceptional Usefulness and Quality icon DOL Sets New Tone on ESG Investing and Proxy Voting with Recently Proposed Rule

"The proposed rule retains core ERISA principles; provides examples of relevant ESG factors.... Examples of factors that may be material to a risk-return analysis ... Practical implications [for] [1] Product manufacturers ... [2] Investment Advisers ... [3] Consultants ... [4] Plan Sponsors ... [5] Proxy Voting."  MORE >>

K&L Gates LLP, via Lexology; free registration required

[Guidance Overview]

Upcoming Deadline icon Alert (High Risk Issue) icon New York Expands Secure Choice Savings Program

"The New York Secure Choice Savings Program has been expanded to make automatic employee enrollment mandatory for certain employers. Covered employers must have payroll deposit savings arrangements to allow each employee to participate in the program. There is an option for employees to opt out of the program after being enrolled."  MORE >>

Goldberg Segalla

Establishing a Solo 401(k) Under the New Rules

"[T]here are several special considerations with respect to setting up and contributing to solo 401(k) plans, including, but not limited to, the deadline for establishing a 401(k) plan, the deadline for making a salary deferral election, and the owner's compensation for contribution purposes."  MORE >>

The Retirement Advantage

Colorado, New Mexico Partner on State IRA Programs

"[T]he Colorado Secure Savings Program and the New Mexico Work and $ave programs signed a Memorandum of Cooperation to pursue a formalized partnership agreement for their auto-enroll IRA programs. This is the first such arrangement between states, and creates what will be the first multi-state auto-enrollment IRA program in the United States."  MORE >>

American Retirement Association [ARA]

Are Asset Managers Earning Their Fees? This Analysis Says Yes

"Out of a data set of active managers with fee mandates ranging from $10 million to $100 million, almost all of the high-fee managers were in the first quartile, based on three-year annualized return figures."  MORE >>

Institutional Investor


Target Date Funds for Union and Small Employer 401(k) Plans (PDF)

19 pages. "Target date funds can and should be much safer than current ... practices. There are three interrelated topics: [1] A recommended new standard that protects beneficiaries.... [2] The risk zone and sequence of return risk.... [3] Imminent stock and bond market crashes could be doozies."  MORE >>

Target Date Solutions

Benefits in General

[Guidance Overview]

Infrastructure Legislation Includes Employee Benefits Provisions

"[T]he Infrastructure Investment and Jobs Act (HR 3684) ... contains employee benefit provisions related to interest rate stabilization for defined benefit plans, postponement of certain benefits-related tax deadlines during federally declared disasters, and more."  MORE >>

Thomson Reuters Practical Law

Annual Enrollment: Successfully Adjusting to the 'New Normal'

"With end-of-year benefit enrollment periods rapidly approaching, here are a few takeaways that can help you reach your employees with critical information about benefit changes and timelines: [1] Know your audiences.... [2] Provide opportunities to ask questions.... [3] Be mindful of video fatigue.... [4] Leverage your resources.... [5] Emphasize wellness and virtual benefits."  MORE >>


KPMG Swaps 401(k) Match for Automatic Employer Contributions, Expands Parental Leave, and Reduces Employee Healthcare Premiums

"Accounting firm KPMG will no longer match employees' 401(k) contributions and instead will make automatic contributions equal to 6-8% of a worker's pay ... The announcement was accompanied by ... a reduction in healthcare premiums, a more robust parental leave program and an expanded employee recognition program."  MORE >>

HR Dive

Executive Compensation and Nonqualified Plans

Trends in Nonqualified Deferred Compensation Plans

"Helping employees save for retirement is still [employers'] highest priority followed by providing competitive benefits and using the plan as a retention tool Still unlikely to make plan changes. More [employers] view the plan as valuable for retention than recruiting this year ... Most participants say the plan plays an important role in their decision to take a new job or stay with their current employer.... Employer match heavily impacts participation."  MORE >>

Principal Financial Group

Employee Benefits Jobs

View job as Manager, Retirement Plan Design
for SS&C Technologies Manager, Retirement Plan Design

SS&C Technologies


View job as Manager, Retirement Plan Design
for SS&C Technologies

View job as Senior Retirement Plan Analyst – Defined Contribution Plans
for M2B Retirement Consulting LLC Senior Retirement Plan Analyst – Defined Contribution Plans

M2B Retirement Consulting LLC

Remote / Wexford PA

View job as Senior Retirement Plan Analyst – Defined Contribution Plans
for M2B Retirement Consulting LLC

View job as Retirement Plan Administrator
for Hilb Group Retirement Plan Administrator

Hilb Group


View job as HR Senior Associate - Benefits/Data Analytics
for Segal HR Senior Associate - Benefits/Data Analytics


New York NY

Selected New Discussions

415(c) Limit in a 403(b) Plan

"If someone changes employers mid-year, do the employer contributions made to his DC plan with his first employer get aggregated with the employer contributions made by his new employer's DC plan when considering the 415(c) limit OR is the 415(c) limit separate for each employer?"

BenefitsLink Message Boards

Replace Trustees Through Restatement of the Plan Document?

"If A and B are the trustees of a plan, and then the plan is restated naming C and D as Trustees, does that have the legal effect of removing A and B as Trustees? Or is a separate formal removal required? I don't see that the document directly addresses this issue."

BenefitsLink Message Boards

Can I Still Set Up a Profit Sharing Plan for 2020?

"A client of a CPA friend has an Ida extension until the end of 2021. Can it still set up a profit sharing plan for 2020? Tax filing has been extended."

BenefitsLink Message Boards

Press Releases

John Hancock Retirement Brings Signature Fiduciary Connect to Plan Sponsors Seeking Additional Support in Offering Workplace 401(k)s

John Hancock

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

It's Not Lead Generation, It's Relationship Generation

November 17, 2021 WEBCAST

GSM Marketing

Whatever Happened to the Class of 2016? Lessons Learned from ERISA Class Action Lawsuits

November 18, 2021 WEBCAST

Broadridge fi360 Solutions

Last Issue's Most Popular Items

2022 Quick Benefit Facts (PDF)


What's a Safe Retirement Spending Rate for the Decades Ahead?


What Is a Section 415(m) Plan, and When Might You Need One?

Best Best & Krieger LLP

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

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