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Retirement Plans Newsletter

February 16, 2022

10 New Job Opportunities 10 New Job Opportunities


[Guidance Overview]

SEC Plants New Cybersecurity Regs

"Although some investment companies and advisers have considered cybersecurity risks as part of their fiduciary obligations and/or implemented written policies and procedures ... the new regulations require a more specific, frequently reviewed, and documented program."  MORE >>

Carlton Fields

[Guidance Overview]

401(k) Compliance Check: Depositing Employee Contributions on Time

"What are the deposit deadlines? ... Our plan is small -- is there any relief for us? ... What about relief for delays due to COVID-19? ... We have late deposits -- what should we do? ... Is there a correction program to fix this error? ... Do we have to file a VFCP application? ... Wait -- what about our Form 5500?"  MORE >>

Foley & Lardner LLP

[Guidance Overview]

Exceptional Usefulness and Quality icon CRS Report: Traditional and Roth Individual Retirement Accounts (PDF)

33 pages. "This report explains IRAs' eligibility requirements, contribution limits, tax deductibility of contributions, and withdrawal rules, and it provides data on the accounts' holdings. It also describes the Retirement Savings Contribution Credit (also known as the Saver's Credit) ... Lastly, it explains provisions enacted after certain federally declared disasters, starting with the Gulf of Mexico hurricanes in 2005, that exempt distributions to qualified individuals from the 10% early withdrawal penalty." [RL34397, updated Feb. 15, 2022]  MORE >>

Congressional Research Service [CRS]

Exceptional Usefulness and Quality icon Aligning Payroll with Plan 'Compensation' -- The Importance of Wage Code Reviews (PDF)

"A key issue in an IRS audit and related internal Form 5500 ... auditor review is to ensure that the various definitions of compensation under a tax-qualified retirement plan are being properly implemented. This article provides background on this issue and discusses various definitions of compensation, the potential consequences of the mistreatment of compensation definitions, and related considerations that are important to maintain the tax qualified status of a plan."  MORE >>

Groom Law Group, via Bloomberg Tax Management Compensation Planning Journal

Savings Behavior Impacts Glide Paths More Than DC Match Formulas

"[P]articipant savings behavior had a greater impact on glide path design than employer match generosity did. The richness of the match formula shifted the optimal glide path equity allocation by less than 5% at all ages, even in the absence of a defined benefit plan. These findings support the idea that participants ultimately own their outcomes when their retirements are supported primarily by defined contribution plans."  MORE >>

T. Rowe Price

Are Americans Warming Up to Crypto for Retirement?

"New poll from Capitalize finds 61% of employees -- but only 46.5% of financial advisors -- believe cryptocurrency is a strong long-term investment."  MORE >>

401(k) Specialist


Pooled Employer 401(k) Plans (PEPs): Myth vs. Reality

"Supporters claim PEPs can offer lower fees for plan participants and greater liability protection for plan fiduciaries than a traditional single-employer 401(k) plan (SEP). In truth, a SEP with an investment menu of leading index funds and flat administration fees can usually beat a PEP on both fronts.... The 401(k) industry has aggressively marketed PEPs since the SECURE Act made them possible. This support can seem odd when you understand that PEPs are more difficult for 401(k) providers to administer correctly than SEPs ... It makes perfect sense, however, when you understand how PEPs can be more profitable."  MORE >>

Employee Fiduciary


SPARK Letter to DOL About Timing of Final Regs on Lifetime Income Illustrations (PDF)

"[SPARK writes] to express concerns about the timing of the final regulation relating to lifetime income illustrations, which, according to the [DOL's] Fall 2021 Regulatory Agenda, is currently targeted for release in February 2022.... [At] this point, a final LII regulation making any changes to how the illustration is to be calculated or displayed could not be feasibly implemented prior to the interim final rule's (IFR's) deadline for furnishing LIIs and would impose unnecessary costs and burdens on plans and their service providers."  MORE >>

The SPARK Institute

Benefits in General


Courts Are Right to Reject Insurer ERISA Attorney Fee Awards

"Once the success threshold has been met, to determine whether a discretionary award of fees is warranted, courts apply a five-factor test ... factors that clearly and intentionally favor successful plaintiffs.... Increasingly, insurance companies are seeking attorney fee awards against claimants who are partially or wholly unsuccessful in overcoming deference and other substantive and procedural advantages to the plan decision makers and are thus unable to have a denial of benefits reversed. For the most part, courts continue to reject attorney fee applications from insurance companies that successfully defeat lawsuits seeking plan benefits."  MORE >>

Kantor & Kantor

Employee Benefits Jobs

View job as Retirement Plan Administrator
for BSP Retirement Services Retirement Plan Administrator

BSP Retirement Services

Remote / Oldsmar FL

View job as Retirement Plan Administrator
for BSP Retirement Services

View job as DC Plan Administrator
for Dienstag Pension Services, Ltd. DC Plan Administrator

Dienstag Pension Services, Ltd.

Remote / Great Neck NY

View job as Investment Consultant Analyst / Associate Consultant - Fiduciary Consulting Services
for Newport Investment Consultant Analyst / Associate Consultant - Fiduciary Consulting Services


Lake Mary FL / Saint Petersburg FL

View job as Retirement Relationship Manager - 401(k), 403(b)
for Newport Retirement Relationship Manager - 401(k), 403(b)


Remote / Folsom CA / Saint Petersburg FL / Lake Mary FL / Chicago IL / West Des Moines IA / Overland Park KS / Minneapolis MN / Lake Mary FL / Charlotte NC / Greensboro NC / De Pere WI / La Crosse WI / AZ / CO / GA / MA / MD / MI / MO / NJ / NY / OH / SC / TX / VA

View job as Senior Consultant, Non-Qualified Plans
for Newport Senior Consultant, Non-Qualified Plans


Remote / Chicago IL / Lake Mary FL / Richmond VA / Dallas TX / Los Angeles CA

View job as Plan Administrator for Non-Qualified Retirement Plans
for Newport Plan Administrator for Non-Qualified Retirement Plans


Lake Mary FL / Dallas TX / Richmond VA / NC

View job as ERISA/Employee Benefits Attorney
for Boutwell Fay LLP ERISA/Employee Benefits Attorney

Boutwell Fay LLP

Remote / Irvine CA / New York NY

View job as Benefits Advisor/Supervisor
for Employee Benefits Security Administration [EBSA] Benefits Advisor/Supervisor

Employee Benefits Security Administration [EBSA]

Remote / Washington DC

View job as Defined Benefit Plan Consultant
for Planned Retirement Consultants & Administrators, LLC Defined Benefit Plan Consultant

Planned Retirement Consultants & Administrators, LLC

Remote / Ridgewood NJ

View job as 401k & Defined Contribution Plan Consultant
for Planned Retirement Consultant & Administrators, LLC 401k & Defined Contribution Plan Consultant

Planned Retirement Consultant & Administrators, LLC

Remote / Ridgewood NJ

Selected New Discussions

What If a Participant Questions the Amount of an ADP Refund?

"What if a participant questions his ADP refund? What if he says to the employer: 'Prove to me my refund is correct.' What would the employer do?"

BenefitsLink Message Boards

K-1 Compensation for an S-Corp

"I have a potential new client where all of the employees (owners and non-owners) are paid via a K-1 (or so I've been told). [1] Can this be included as income for a retirement plan? [2] If yes, the fact that it's a K-1 income doesn't change the requirement that all employees must be included, correct?"

BenefitsLink Message Boards

Press Releases

Northeast Business Group on Health Releases an Employer Guide to Social Determinants of Health

Northeast Business Group on Health [NEBGH]

Retirement Plan Advisors Announces Participant Advice Solutions

Retirement Plan Advisors, LLC

Consumer Groups and Others to Launch Retirement-Security-for-All Call for Action

Pension Rights Center

Elevate and Visa Collaborate on "Push to Debit" Health Reimbursements


Webcasts and Conferences
(Retirement Plans / Executive Compensation)

Top Five Benefits and Compensation Issues for 2022

February 22, 2022 WEBCAST

Ogletree Deakins

Introduction to Fiduciary Prudent Practices

February 24, 2022 WEBCAST

Broadridge fi360 Solutions

Last Issue's Most Popular Items

Arbitration Under ERISA: A Roadmap for Enforcement


Benefits That Attract and Retain Employees as We Emerge from the Pandemic


MyCTSavings: Everything Employers Need To Know


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

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