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Retirement Plans Newsletter

February 22, 2022

2 New Job Opportunities 2 New Job Opportunities


[Guidance Overview]

Best Interest Standard of Care for Advisors, Part 82: Correction of Violations of PTE 2020-02

"A failure to satisfy with even one of the many conditions in the PTE will mean that the violation will need to be corrected and reported in the report for the annual review and, if there were resulting 'losses', those losses must be restored to the retirement account. Keep in mind that, for DOL purposes, a loss isn't just a reduction in value of an investment. It can also be, for example, additional expenses."  MORE >>

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[Guidance Overview]

SEC Proposes Cybersecurity Risk Management Rules for Registered Funds and Advisers

"If adopted, the Proposals would: [1] Require advisers and registered funds to disclose detailed information about their 'cybersecurity risks' and 'cybersecurity incidents' to current and prospective clients and shareholders; [2] Require reporting ... to the SEC within 48 hours of reasonably concluding an incident occurred; and [3] Require advisers and registered funds to adopt and implement cybersecurity policies and procedures that are reasonably designed to address cybersecurity risks."  MORE >>

Ropes & Gray LLP

Is It Time for a Collective Investment Trust?

"CITs function in the same fashion as mutual funds: They are professionally managed pools of assets. However, they differ in how they are governed and regulated. The result is that CITs typically have a lower fee structure. In an era of seemingly constant litigation over 'excessive' fees, this is a consideration to keep in mind."  MORE >>


Recalibrating the 401(k) for Inflation

"65% of workers said they could be motivated to leave their current job for one that offers a high-quality 401(k) or other retirement plan. Financial benefits ... rank higher than in-office perks and vacation time.... By nudging employers to think differently about matching and vesting formulas, you can help them calm today's inflation and employment worries because allocated funds will be invested for a longer period of time and only reward loyal employees."  MORE >>

Fiduciary Benchmarks

In Your 30s? Smart Strategies for Your 401(k)

"[1] Claim your full employer match ... [2] Load up on index funds ... [3] Open a Roth 401(k)."  MORE >>

Winston-Salem Journal

State and Local Government Spending on Public Employee Retirement Systems (PDF)

Updated Feb. 2022. "Pension costs paid by state and local government employers vary widely and reflect multiple factors, including differing levels of public services, benefits, pension funding levels, employer effort to pay required contributions, and the fiscal condition of states and their political subdivisions, among others. Employers in FY 20 contributed nearly $180 billion to pension benefits for employees, an amount that, in total, is a relatively small -- but growing -- part of state and local government spending."  MORE >>

National Association of State Retirement Administrators [NASRA]

CRS In Focus: The Social Security Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO)

"The Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) are two separate provisions that reduce regular Social Security benefits for workers and their eligible family members if the worker receives (or is entitled to) a pension based on earnings from employment not covered by Social Security.... As of December 2021, about 2.0 million people (or about 3% of all Social Security beneficiaries) were affected by the WEP. " [In Focus IF10203, updated Feb. 22, 2022]  MORE >>

Congressional Research Service [CRS]

Employee Benefits Jobs

View job as Client Services Specialist
for IJOIN Client Services Specialist



View job as Defined Contribution Plan Administrator (Entry Level)
for MGKS Defined Contribution Plan Administrator (Entry Level)


Remote / Phoenix AZ

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

What Every Retirement Plan Fiduciary Needs to Know



IRA Institute

May 2, 2022 in TX


Current State of Social Security and Implications of COVID

May 18, 2022 WEBCAST

Conference of Consulting Actuaries

Last Issue's Most Popular Items

It's [Not] Too Late Baby, Now It's [Not] Too Late... for Required Minimum Distributions

Holland & Hart LLP

Recordkeeping Fee Suit Questions Revenue Sharing Arrangement

PLANSPONSOR; free registration may be required

Second Circuit Upholds Plan's Denial of Severance Benefits Based on Layoff Definition Applying Section 409A

Thomson Reuters Practical Law

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

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