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Retirement Plans Newsletter
February 2, 2022
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6 New Job Opportunities
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[Guidance Overview]
DOL Issues Final 5500 Rules for MEPs and PEPs
"The Final Revisions primarily address issues related to multiple employer plans (MEPs) and pooled employer plans (PEPs) and leaves other proposed changes affecting most plans -- including reporting of detailed expenses and IRS compliance issues -- for future
rulemaking." MORE >>
Groom Law Group
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[Guidance Overview]
Puerto Rico Treasury Announces Key 2022 Benefit Plan Limits
"The table [in this article] lists the key 2022 limits specified in Circular Letter 2022-01, the corresponding 2021 limits, and
the U.S. Internal Revenue Code sections that specify analogous limits." MORE >>
Buck
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A Practical Guide for Selecting DC Plan Lifetime Income Options (PDF)
19 pages. "This paper is intended to provide plan sponsors and other fiduciaries with a practical guide to help in the selection of lifetime income investments. It first explains what it means to be a fiduciary and then discusses the fiduciary duties in the context of providing
lifetime income options within DC plans. Although this paper primarily refers to ERISA and 401(k) plans, the general concepts and considerations apply equally to non‐ERISA DC plans, including church, 457, and 403(b) plans." MORE >>
Groom Law Group
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Hughes v. Northwestern: Key Takeaways for 401(k) and 403(b) Plan Sponsors and Fiduciaries
"Maintaining an unusually large number of investment options on a plan menu will not absolve a fiduciary of its failure to continually monitor and remove or replace poor-performing, high-cost or otherwise imprudent investments from the menu.... Adherence to processes and
procedures governing the construction and maintenance of the plan investment lineup and diligent documentation of how those processes have been followed may warrant some judicial deference.... There may be a potential chilling effect on the ever-expanding market of retirement plan investment options." MORE >>
Ropes & Gray LLP
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FAS87 ASC715 Discount Rates and Moody's Rates, January 31, 2022
An unofficial monthly report of the Moody's Daily Long-term Corporate Bond Yield Averages and Moody's Daily Treasury Yield Averages (used as benchmarks by some corporate pension plans). MORE >>
BenefitsLink Message Boards
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[Opinion]
DB Plan Funding Strategies: Is the Flexibility Worth the Risk?
"The higher upside potential from re-risking comes at the cost of balance sheet volatility and potential for higher PBGC premiums.... If these risks are beyond the sponsor's tolerance, LDI may provide a more prudent and measured path forward so as not to put recent funded
status gains in danger." MORE >>
Theresa Roy, via BenefitsPro; free registration required
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Employee Benefits Jobs |
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Selected New Discussions |
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Effect of Dividend Distribution in 2021 on Eligibility for Net Unrealized Appreciation (NUA) Treatment in 2022
"401k participant has appreciated company stock. Separated from service in 2021. In 2021, he took a distribution of dividends from employer stock. It's not clear whether he took the distributions while employed or after separation from service. One of the many NUA
requirements is to make lump sump distribution in a single year. Does him taking a distribution of dividends nullify NUA? If so, would he be required to wait until the next 'triggering event' to NUA qualify?"
BenefitsLink Message Boards
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1099-NEC for Services Rendered on a Plan's Particular Real Estate Investment?
"I was asked by a financial advisor of a single member client just now: 'Should the plan issue a 1099-NEC to a person who did some work on the property the plan owns?' Thinking it through I would say yes. I would also guess that whatever account pays the
real estate tax bills would be the account that issues the 1099-NEC. Anyone have a quick answer? Of course the 1099 was due yesterday."
BenefitsLink Message Boards
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Lump Sum Windows That Limit Annuity Options
"When offering a lump sum window, I understand that a sponsor is required to also offer eligible participants an immediate annuity that satisfies the QJSA rules. However, I generally see lump sum window designs that limit the annuity options for participants who have not yet
attained early retirement age to the QJSA (or QOSA), while providing the full suite of optional forms of benefits to those over early retirement age. Is that legally required (perhaps based upon the anti-cutback rules), or simply a design choice? Could all lump sum participants (who are not otherwise eligible for a distribution) be limited to the QJSA/QOSA?"
BenefitsLink Message Boards
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Press Releases |
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Calfee's Employee Benefits and Executive Compensation Practice Welcomes Partner Jason A. Rothman to Its Cleveland Office
Calfee, Halter & Griswold LLP
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DOL Obtains Judgment After Investigation Finds Michigan Company Failed to Forward Retirement Contributions
Employee Benefits Security Administration [EBSA], U.S. Department of Labor
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SEC Files Fraud Charges Alleging a Multi-Million Dollar Scheme that Targeted Retirement Accounts
Securities and Exchange Commission [SEC]
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Webcasts and Conferences
(Retirement Plans / Executive Compensation) |
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Roth IRAs: What You Need to Know
February 17, 2022 WEBCAST
Ascensus
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Retirement Plan Cybersecurity: A Plan Sponsor Obligation
February 22, 2022 WEBCAST
Barclay Damon
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Annual Legal and Regulatory Update
March 10, 2022 WEBCAST
Worldwide Employee Benefits Network [WEB] - Northeast Ohio Chapter
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Last Issue's Most Popular Items |
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Tax Court Rejects Aggressive IRA Investment Strategy with Coins in an LLC
The Wagner Law Group
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DOL Issues New Guidance on Private Equity Investments in Individual Account Plans
Faegre Drinker
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Overview of Employee Benefits Provided to State and Local Government Employees (PDF)
Mission Square Research Institute
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Copyright 2021 BenefitsLink.com, Inc. All materials contained in this newsletter are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of BenefitsLink.com, Inc., or in the case of third party materials, the owner of those materials. You may not alter or remove any trademark, copyright or other notices from copies of the content.
BenefitsLink Retirement Plans Newsletter, ISSN no. 1536-9587.
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