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Retirement Plans Newsletter

January 12, 2022

4 New Job Opportunities 4 New Job Opportunities


Defensive Plan Provisions Might Mitigate ERISA Lawsuits

"Retirement plan sponsors should consider adding to the plan limitation periods, implementing mandatory arbitration clauses, and including class action waivers and venue provisions to reduce exposure to lawsuits[.]"  MORE >>

PLANSPONSOR; free registration may be required

Intel Prevails Again in ERISA Lawsuit

"The ruling goes into significant depth in its criticism of the plaintiffs' failure to provide 'meaningful benchmarks' against which the alleged underperformance of the various Intel funds should be considered." [Anderson v. Intel Corp. Investment Policy Comm., No. 19-4618 (N.D. Cal. Jan. 8, 2022)]  MORE >>

PLANSPONSOR; free registration may be required

State and Local Government Contributions to Statewide Pension Plans: Fiscal Year 2020 (PDF)

"Pension benefits for employees of state and local governments are paid from trust funds to which public employers and employees contribute during employees' working years. Timely contributions are vital to both adequate funding and the sustainability of these plans.... This brief describes how contributions are determined; the recent public employer contribution experience; and trends in employer contributions over time."  MORE >>

National Association of State Retirement Administrators [NASRA]

CRS 'In Focus': The Social Security Retirement Earnings Test

"Social Security retirement benefits received between age 62 and the full retirement age (FRA) -- which falls between 65 and 67, depending on year of birth -- are generally subject to an actuarial reduction for early retirement and may also be reduced by the Retirement Earnings Test (RET) if the beneficiary has earnings that exceed an annual threshold." [IF12014, Jan. 11, 2022]  MORE >>

Congressional Research Service [CRS]

Exceptional Usefulness and Quality icon Taxes in Retirement: How All 50 States Tax Retirees

"The difference between taxes in one location versus another could be in the tens of thousands of dollars for some people. And, while most people tend to focus on income taxes, other taxes -- like sales and property taxes -- can add up quickly, too.... [This article ranks] all 50 states, plus the District of Columbia, based on how they tax retirees."  MORE >>


Guide to Church Retirement Plans, Part 1

"Chapters in this series will focus on three core principles church plans often look to balance: Benefit adequacy, benefit equity, and benefit security. [The series] will discuss each of these principles in more detail, and how they interact with each other. [This first chapter discusses] pension plans in general, including their history and unique considerations for church plans."  MORE >>


Guide to Church Retirement Plans, Part 2

"This chapter explores how an employer offering multiple benefits as part of total retirement income planning can lend itself to benefit adequacy."  MORE >>


Guide to Church Retirement Plans, Part 3

"[This] chapter explores the benefit security of a church plan following these topics and issues: [1] Funding policy; [2] Has the funding policy been checked lately? [3] What are some ways to calculate our contribution? [4] Is it time to make a change? [5] Other considerations."  MORE >>


Guide to Church Retirement Plans, Part 4

"This chapter explores what it means to have church plan status and how minimum standards may play a part in establishing a balance of the core principles of benefit adequacy, benefit equity, and benefit security."  MORE >>



Bonds Are the Key to Reining in Runaway Municipal Pension Plans

"In what is the product of the sustained low-rate environment, many municipalities are considering addressing their pension position through bonds. This should be encouraged by policymakers and explored by pension systems.... Pensions are a known liability that municipalities cannot avoid; no matter the economic or financial conditions, they will have to pay out. Addressing the liability now, with rates at a historic low point, stabilizes pension funds and is a prudent financial solution. "  MORE >>

Eric J. Mason, in The Hill

Benefits in General

[Official Guidance]

IRS Disaster Relief Notice WA-2022-01, for Victims of Washington State Flooding and Mudslides

"Victims of flooding and mudslides beginning November 13, 2021 now have until March 15, 2022, to file various individual and business tax returns and make tax payments ... Individuals and households affected by the flooding and mudslides that reside or have a business in Clallam, Skagit, and Whatcom counties and the Lummi Nation, Nooksack Indian Tribe, and Quileute Tribe qualify for tax relief."  MORE >>

Internal Revenue Service [IRS]

2021 National Taxpayer Advocate Report to Congress (PDF)

234 pages. "Calendar year 2021 was surely the most challenging year taxpayers and tax professionals have ever experienced -- long processing and refund delays, difficulty reaching the IRS by phone, correspondence that went unprocessed for many months, collection notices issued while taxpayer correspondence was awaiting processing, limited or no information on the Where's My Refund? tool for delayed returns, and -- for full disclosure -- difficulty obtaining timely assistance from TAS.... One irony of the past year is that, despite its challenges, the IRS performed well under the circumstances." [Also available: 2022 NTA Purple Book, Compilation of Legislative Recommendations to Strengthen Taxpayer Rights and Improve Tax Administration.]  MORE >>

Taxpayer Advocate Service, Internal Revenue Service [IRS]


PEOs and the Transformation of Workplace Benefits

"While [Professional Employer Organizations (PEOs)] respond to long-standing challenges faced by smaller employers and have the potential to increase access to workplace benefits, this Article argues that they also introduce new and significant governance concerns that are not adequately addressed by the existing regulatory framework.... [T]his Article recommends strengthening and uniformly applying registration, disclosure and oversight requirements for all non-employer intermediaries, including PEOs."  MORE >>

Natalya Shnitser, via SSRN

Executive Compensation and Nonqualified Plans

[Guidance Overview]

Upcoming Deadline icon Deadlines Approach to Furnish ISO and ESPP Information Statements and Returns

"Section 6039 of the Internal Revenue Code requires a corporation to furnish a written statement to any employee or former employee who either [1] exercised an incentive stock option ... during 2021 or, [2] during 2021, first transferred legal title to shares acquired under the corporation's employee stock purchase plan ... This requirement applies to both privately held and publicly traded corporations. The corporation must furnish these statements on Forms 3921 and 3922 no later than January 31, 2022."  MORE >>

DLA Piper

Employee Benefits Jobs

View job as Plan Administrator (TPA)
for ForUsAll Plan Administrator (TPA)


Remote / San Carlos CA

View job as Tax Operations Consultant
for Empower Retirement Tax Operations Consultant

Empower Retirement


View job as Benefits Specialist
for Gallagher Benefits Specialist


Rolling Meadows IL

View job as Internal Sales Consultant
for Independent Retirement Internal Sales Consultant

Independent Retirement

Remote / ID / OR / WA

Selected New Discussions

Family Aggregation; Parents Work for Children and Own Another Company

"I have a client that is thinking of starting a 401k plan. Two brothers own 100% of Company A; 50% each. The parents (of both brothers) work for the brothers, receive W-2 comp, own 0% of company B and want to make 401k contributions to the 401k plan of Company A. In addition, the parents jointly own 100% of Company B; 50% each and do NOT want to offer a 401k to the employees of company B. The two sons do not own any of company B and they do not work for Company B. If the parents contribute to the sons' 401k plan as employees of company A and don't offer a plan to the employees of Company B, is that a problem?"

BenefitsLink Message Boards

In-Service Distribution from a Cash Balance Plan?

"I didn't think so, but I have a client asking so I want to confirm. The participant is under the plan's normal retirement age and is hoping to withdraw a portion."

BenefitsLink Message Boards

Does Rollover from 403(b) to Roth IRA Count Toward Roth IRA Income Limit?

"If I have a rollover from tax-deferred 403b to Roth IRA, which will be taxed, does it count toward the $129K income limit for contributing to Roth IRA?"

BenefitsLink Message Boards

Where's the New Uniform Life Table for 2022 RMDs?

"When I go to the 'Retirement Topics -- Required Minimum Distributions (RMDs)' page of the IRS web site, it mentions the new age 72 rule. However, 'Calculating the required minimum distribution,', the link to the Uniform Life Table leads to Publication 590-B (2020) and its sub-heading says 'For use in preparing 2020 Returns.'  I can't find the new tables in the Retirement section of the IRS site. Can you?"

BenefitsLink Message Boards

NQDC Plan for All Employees (Not Limited to Top Hat)?

"My understanding is that the advantage of qualifying as a top hat plan is that the plan is exempt from certain ERISA requirements. Is it possible to have a NQDC that complies with the ERISA requirements requirements but is not a qualified plan? Has anyone ever seen one?"

BenefitsLink Message Boards

Press Releases

Sequoia Launches New Total Rewards and People Policy Benchmarking Online Resource to Accelerate Insights Into Action


Honored Nominees for NTSA 2022 Elite Advisor Awards Unveiled

National Tax-Deferred Savings Association [NTSA]

Entire Keightley & Ashner Team to Join ´╗┐the Wagner Law Group

Wagner Law Group P.C.

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

Understanding Fiduciary Duty: Hiring a Service Provider


Multnomah Group

ESG: A Holistic Approach for DC Plans

January 19, 2022 WEBCAST

National Association of Plan Advisors [NAPA]

Cyber Liability Insurance Simplified

January 20, 2022 WEBCAST


Voluntary Fiduciary Correction Program

January 27, 2022 WEBCAST

Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Last Issue's Most Popular Items

Text of 2021 Instructions for IRS Form 8955-SSA: Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits (PDF)

Internal Revenue Service [IRS]

Distributing Assets When an Unrelated Employer Leaves a Multiple Employer Plan


Courts Address Rules for Protection of Retirement Plan Assets

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

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