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Retirement Plans Newsletter

February 8, 2022

4 New Job Opportunities 4 New Job Opportunities


Exceptional Usefulness and Quality icon ERISA Advisory Council Report: Understanding Brokerage Windows in Self-Directed Retirement Plans (PDF)

55 pages. "The [Council's] examination focused on: [1] the prevalence of brokerage windows (the number of plans that have them and the extent to which assets are invested in them); [2] which types of plans have brokerage windows; and [3] which plan participants use brokerage windows and in what manner."  MORE >>

Advisory Council on Employee Welfare and Pension Benefit Plans

[Sponsor] -- Form 5500 eSource

The 5500 eSource. A complete guide to Form 5500 preparation with comprehensive analysis and explanations. Includes 1,000 data element format specifications and over 400 edit checks to help you avoid rejected filings. 612-605-2266

Sponsored by

ERISA Advisory Council Report: Gaps in Retirement Savings Based on Race, Ethnicity and Gender (PDF)

72 pages. "The Council has formulated specific recommendations ... [which] fall into five categories: [1] Lack of retirement plans for 50 percent of American workforce ... [2] Current U.S. retirement system is fragmented ... [3] Real need exists to enhance education and outreach ... [4] Women are more likely to have lower retirement benefits ... [5] Opportunities for EBSA to update Regulations, Technical Bulletins, and Rules."  MORE >>

Advisory Council on Employee Welfare and Pension Benefit Plans

Are Insurance Agents Fiduciaries? Federal Lawsuit Aims to Vacate DOL Rule

"The plaintiffs allege the [DOL's] new interpretation, which broadens the scope of professionals who are considered fiduciaries, will 'directly and adversely' affect them. Under [ERISA], fiduciaries cannot collect commissions from a third party or compensation that varies based on the advice given." [Federation of Americans for Consumer Choice Inc. v. DOL, No. 22-00243 (N.D. Tex. complaint filed Feb. 2, 2022)]  MORE >>

Motley Fool

SCOTUS Nudges Defined Contribution Plans Further Into the Fray (PDF)

"The Court's decision is disappointing to many plan sponsors and fiduciaries of defined contribution plans, leaving them to navigate ERISA's 'Sargasso Sea of obfuscation' without much guidance. It remains unclear as to whether this decision will likely lead to more 'excessive fee' litigation across the country. However, within days of the decision, several district courts have denied fiduciaries' motions to dismiss and allowed those cases to proceed to the next stage of litigation." [Hughes v. Northwestern Univ., No. 19-1401 (S. Ct. Jan. 24, 2022)]  MORE >>

Fox Rothschild LLP, via Bloomberg Tax Management Compensation Planning Journal

2022 401(k) Compliance Calendar

"Though many of the deadlines for various forms and reports are the same as last year, there are a couple of dates that have changed to reflect this year’s calendar. As always, the year starts off with relatively few things due, but requirements begin picking up in March."  MORE >>


Exceptional Usefulness and Quality icon Annual Plan Deadlines for the Plan Year Ending December 31, 2022 (PDF)

"[This] chart provides an explanation of key plan events and deadlines for Section 401(a) and 401(k) defined contribution plans with a plan year ending December 31, 2022. Off-calendar year plans should adjust the deadlines accordingly based on the time frames described in the chart."  MORE >>

VOYA Financial

Puerto Rico Exits Bankruptcy, Solidifying the Protection of Retirees' Interests

"Against the backdrop of this massive discharge of debt, the accrued pension benefits of 167,000 government retirees are fully protected from any reductions. This result is particularly remarkable considering the Commonwealth's three retirement systems were essentially completely broke (average of 1.5% funding level) as of the commencement of the Title III case."  MORE >>

Jenner & Block

Supreme Court Makes Dismissal of Retirement Plan Fee Litigation More Difficult

"[T]he Supreme Court stated that the mere availability of adequate investment options does not prevent ERISA plaintiffs from stating a plausible claim for breach of the duty of prudence. In other words, courts cannot simply dismiss breach of fiduciary actions because participants can pick from a wide array of investment options that include prudent options. If the fiduciaries fail to remove an imprudent investment option from the plan within a reasonable time, they breach their duty." [Hughes v. Northwestern Univ., No. 19-1401 (S. Ct. Jan. 24, 2022)]  MORE >>

Miller Johnson

Fiduciary Challenges for Merging 401(k) Plans

"Don't assume the buyer's plan is the better plan.... Take a hard look at the seller's plan and make sure that there doesn't appear to be any potential compliance issues that you might take on.... Before you consider terminating the seller's plan, consider the ERISA impact of merging the plan into the buyer's plan.... [C]onsider terminating the plan prior to the acquisition and let [the other party] handle all of the heavy lifting.... f you're a fiduciary of the acquiring plan, ... make sure you're not burdened with any unknown liabilities."  MORE >>

Fiduciary News; free registration required

2022 MetLife Stable Value Study

"If a TDF provider could generate net returns four times more than the cost associated with delivering those incremental returns while keeping volatility constant, 89% of plan sponsors and 97% of advisors would be interested in this feature. There is also significant interest -- 86% of plan sponsors and 94% of plan advisors -- in a feature that could maintain comparable returns, net of fees, while reducing volatility by approximately 40%."  MORE >>


Employee Benefits Jobs

View job as Sr. 401k Contribution Payroll Specialist
for BlueStar Retirement Services Inc. Sr. 401k Contribution Payroll Specialist

BlueStar Retirement Services Inc.


View job as Pension Compliance Administrator
for Associated Pension Consultants Pension Compliance Administrator

Associated Pension Consultants


View job as Benefits Specialist
for Pension Benefit Guaranty Corporation [PBGC] Benefits Specialist

Pension Benefit Guaranty Corporation [PBGC]

Remote / Washington DC

View job as Implementation Specialist
for Nova 401(k) Associates Implementation Specialist

Nova 401(k) Associates

Remote / Houston TX / Dallas TX / Scottsdale AZ

Selected New Discussions

Transferring Deferred Comp Plan's Liability to Another Company

"Entity A has a Nonqualified Deferred Compensation ('NQDC') Plan. For one particularly highly paid employee ('Employee A'), Entity A is worried about having Employee A's NQDC liability on their books. Entity B has ties to Entity A, but is not in the same controlled group (you could call the entities affiliated). Can Entity A transfer Employee A's NQDC liability to Entity B, while also transferring the portion of the Rabbi Trust that holds assets needed to cover Employee A's NQDC interest to Entity B?"

BenefitsLink Message Boards

Press Releases

ABA Retirement Funds Selects NPPG Fiduciary Services, LLC as a Preferred Provider for 3(16) Plan Administrator Services and Compliance Oversight to Member Firms


Shareholder John Barlament Joins Reinhart’s Employee Benefits Practice

Reinhart Boerner Van Deuren S.C.

NTSA Names Elite Advisors of 2022

National Tax-Deferred Savings Association [NTSA]

NTSA Announces Ford Volunteer Service Award Honorees

National Tax-Deferred Savings Association [NTSA]

MDsave Awarded Two Patents for Innovative Bundled Services and Pricing Tool


Webcasts and Conferences
(Retirement Plans / Executive Compensation)

Coverage: Related Employers, Mergers and Acquisitions

February 16, 2022 WEBCAST

Western Pension & Benefits Council

PEP Talk: Unscramble PEPs and P3's -- What It Means to You as a Fiduciary, Plan Participant and Retirement Platform Provider

February 17, 2022 WEBCAST

Worldwide Employee Benefits Network [WEB] - New York Chapter

ERISA Prohibited Transactions and Exemptions: Statutory, Class, and Individual Exemption Rules and Challenges

March 30, 2022 WEBCAST


Pensions on Peachtree

April 25, 2022 WEBCAST

FIS Retirement Education

Last Issue's Most Popular Items

Making a One-Time Transfer from an IRA to an HSA


Why Plan Sponsors Need a Retirement Plan Committee

HUB International

Employee Plans Examination Quality Review Scores Have Declined, and Efforts to Identify Trends and Implement Corrective Actions Could Be Improved (PDF)

Treasury Inspector General for Tax Administration [TIGTA]

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

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