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Retirement Plans Newsletter

January 18, 2022

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[Official Guidance]

Text of IRS Notice 2022-06: Determination of Substantially Equal Periodic Payments (PDF)

13 pages. "This notice provides guidance on whether a series of payments from an individual account under a qualified retirement plan is considered a series of substantially equal periodic payments within the meaning of section 72(t)(2)(A)(iv) of the Internal Revenue Code. This guidance also applies for purposes of determining whether a distribution from a non-qualified annuity contract is part of a series of substantially equal periodic payments within the meaning of section 72(q)(2)(D). This notice modifies and supersedes Rev. Rul. 2002-62 ... and Notice 2004-15[.]"  MORE >>

Internal Revenue Service [IRS]


Advanced Pension Conference – February 1-3, 2022

Join us for the virtual APC on Feb. 1-3, 2022. ERISA experts will discuss Form 5500 latest update, plan amendment, compensation, plan governance, hardship distribution, keeping current, Washington update, and more. 13 CE credits. Register here.

Sponsored by FIS Retirement Education

[Guidance Overview]

Interest Rate Smoothing and Disaster Relief Provisions Expanded

"Section 80602 of the [Infrastructure Investment and Jobs Act (IIJA)] extends the interest rate smoothing provisions that affect the minimum funding requirements for most defined benefit pension plans.... Section 80501 of the IIJA expands and streamlines the automatic 60-day extensions of many pension-related IRS deadlines for 'federally declared disasters'."  MORE >>

Hall Benefits Law

The Ideal Glidepath for Target Date Funds Actually Protects Those Near Retirement (PDF)

"This article challenges the status quo of target date funds, contending that they can and should be much safer than current common 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 >>

Ronald J. Surz, via Journal of Compensation and Benefits

Retirement Account Changes Targeted by Lawmakers in 2022

"A proposal called the Securing A Strong Retirement Act of 2021 has received bipartisan support. It would ... [1] Enroll more workers in retirement accounts automatically.... [2] Raise the catch-up contribution limit.... [3] Index the annual catch-up contribution limit to inflation for all workers ... [4] Provide extra help for workers with student loans.... [5] Change the age when RMDs begin.... [6] Reduce the penalty for not taking RMDs."  MORE >>

Motley Fool

Has COVID Affected Pensions for Workers Without Social Security?

"At the outset of the pandemic recession, many feared it would undermine workers' employer-sponsored retirement plans. State and local employees who are not covered by Social Security would have been particularly vulnerable ... Their employer defined benefit plans would have been hurt by a long recession with poor investment returns and reduced contributions due to tax shortfalls. Instead, ... plan funded ratios actually improved. And long-term structural headwinds such as negative cash flows and aggressive return targets still pose little risk to their ability to pay future benefits."  MORE >>

Center for Retirement Research at Boston College

Who Is Covered by the Social Security Program?

"Most jobs in the United States are covered by Social Security. Recent estimates by the Social Security Administration (SSA) show that about 176 million people were expected to work in covered employment in 2021 and that about 94% of workers in paid employment and self-employment are covered under the program. This In Focus discusses Social Security coverage and the major exceptions to mandatory participation in the program." [IF11824 Jan. 18, 2022]  MORE >>

Congressional Research Service [CRS]

Are Employers Responsible for Employees' Financial Wellness?

"No responding readers said they generally believe employees should have their day-to-day financial lives in order before they save for retirement. The vast majority (97%) generally believe employees can manage their day-to-day financial issues and save for retirement at the same time, and 3% indicated they are unsure."  MORE >>

PLANSPONSOR; free registration may be required

Looking to Diversify Your Investments? Think Beyond Your Workplace Retirement Plan

"For most individual investors, a solid diversification strategy means holding different types of stock funds, bond funds and cash ... [Y]ou'll likely need a lot more stocks than you think for proper diversification; however, many workplace retirement plans offer limited options. Here's what you need to know to create a solid diversification strategy."  MORE >>


Employee Benefits Jobs

View job as Defined Contribution Plan Administrator
for American Retirement Plan Services, LLC Defined Contribution Plan Administrator

American Retirement Plan Services, LLC

Remote / Hunt Valley MD

Selected New Discussions

Looking for Basic Information on Distribution of Insurance Policies

"I can count on my ten fingers (and not use all of them) the number of plans I've dealt with that allow participants to purchase life insurance. And even less experience in what to do when it comes time to distribute those policies when they terminate employment. Are there good resources that explains when needs to, or can be, done in these situations? I'm not sure if this participant wants to keep the policy or cash it out."

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Press Releases

HealthComp Acquires Gilsbar’s TPA Division


Global Retirement Technology Provider Smart Partners with Finhabits, a Leading Money App for the Latino Community


NFP Realigns Its Northeast Region Leadership, Appoints Kate Henry and Mike Walsh Co-Presidents

NFP Corp.

Last Issue's Most Popular Items

DOL, PBGC Announce Retirement Plan Civil Penalties for 2022


Milliman Accused of Failing to Prune Bad Investments from 401(k)

PLANSPONSOR; free registration may be required

'Smart' Enters the U.S. PEP Market

Retirement Income Journal

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

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