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Retirement Plans Newsletter

July 11, 2022

6 New Job Opportunities 6 New Job Opportunities

 

[Guidance Overview]

IRS Proposed Regs Upset Assumptions About Inherited IRAs Following SECURE Act

"The IRS Proposed Regulations undercut one of the basic assumptions of the ten-year deferral rule -- that the beneficiary need not take annual RMDs during the ten-year deferral period. Before the SECURE Act, non-individual beneficiaries did not have to take annual RMDs during the five-year deferral period, which led to the same assumption for the ten-year deferral period for individuals who did not qualify as eligible designated beneficiaries. The IRS Proposed Regulations reach the opposite conclusion."  MORE >>

Hall Benefits Law

Combining Automatic Enrollment Features Can Improve Retirement Savings Adequacy (PDF)

"[A]nalysis of participants who were automatically enrolled in their employers' plans in 2021 reveals that less than 6% opted out.... [T]he percentage who opted out was similar if the default was 3% or the default was ≥6% of wages.... [A]lmost 90% of participants automatically enrolled in 2021 kept their investments in the [QDIA] chosen by their employer. Collectively, these findings point to the power of nudges to influence behavior but raise the question of whether they go far enough or could serve a greater social purpose."  MORE >>

T. Rowe Price

Have Vesting Schedules Become Controversial?

"For workers in businesses that have shorter employee tenures, a long-graded vesting schedule could be seen as unfair to workers. But for plan sponsors, vesting schedules can control costs and help with employee retention."  MORE >>

PLANSPONSOR; free registration may be required

Key Areas of DOL Retirement Plan Investigations (PDF)

"This article discusses nine areas of focus for DOL plan fiduciary investigations that may affect plan service providers, trustees and plan administrators. Plan fiduciaries and their service providers may want to consider a self-review of their ERISA compliance, especially with respect to these nine areas, before investigators come knocking on their door."  MORE >>

Morgan Lewis, via benefits Magazine, published by the International Foundation of Employee Benefit Plans [IFEBP]

[Opinion]

PBGC Issues Final Guidance on Butch Lewis Act

"Workers and retirees in financially challenged multiemployer plans can now sleep better knowing that their pensions will be protected. [The Pension Rights Center applauds] the PBGC for making significant improvements to the interim rule, which will provide plans with greater resources and enhanced flexibility."  MORE >>

Pension Rights Center

Employee Benefits Jobs

View job as Account Manager
          for MAP Retirement USA, LLC Account Manager

MAP Retirement USA, LLC

Remote

View job as Account Manager
          for MAP Retirement USA, LLC

View job as New Business Coordinator
          for MAP Retirement New Business Coordinator

MAP Retirement

Remote

View job as New Business Coordinator
          for MAP Retirement

View job as Compliance Analyst - Defined Contribution Plans
          for M2B Retirement Consulting LLC Compliance Analyst - Defined Contribution Plans

M2B Retirement Consulting LLC

Remote / PA

View job as Compliance Analyst - Defined Contribution Plans
          for M2B Retirement Consulting LLC

View job as Relationship Manager
          for Compass Retirement Consulting Group, Inc. Relationship Manager

Compass Retirement Consulting Group, Inc.

Remote / Stratham NH

View job as Relationship Manager
          for Compass Retirement Consulting Group, Inc.

View job as Operations Specialist
          for Pentegra Operations Specialist

Pentegra

Remote / West Harrison NY

View job as Operations Specialist
          for Pentegra

View job as Benefits Compliance Counsel
          for Gallagher Benefits Compliance Counsel

Gallagher

Remote / AR / AZ / CA / CO / ID / NV / OR / UT / WA

View job as Benefits Compliance Counsel
          for Gallagher

Selected New Discussions

Amend Mid-Year to Add Last-Day Employment Requirement for Discretionary True-Up Match?

"Our plan currently has a discretionary true-up match with no allocation service requirements. Is it OK to amend the plan for the current plan year to add a last day of employment rule or do we have to wait until next year? We want to exclude terminated employees from receiving the true-up match for 2022, if the company decides to make one."

BenefitsLink Message Boards

Distributions from Individual Annuity Contracts After 403(b) Termination

"Any thoughts on whether individual annuity contracts distributed when a 403(b) plan terminates must limit distributions to one of the events that would permit a distribution from a 403(b) plan (e.g., termination of employment)?"

BenefitsLink Message Boards

408(b)(2) Disclosure and 404(a)(5) Disclosure -- Required for CB or DB Plans?

"Is a 408(b)(2) and 404(a)(5) disclosure required for Cash Balance and Defined Benefit plans?"

BenefitsLink Message Boards

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

Eligibility & Plan Design

August 11, 2022 WEBCAST

ASC

Last Issue's Most Popular Items

Hughes v. Northwestern University: A Message to Retirement Plan Fiduciaries from the Supreme Court (PDF)

Qualified Plan Advisors

PBGC Institutes Major Changes in Its Special Financial Assistance Final Rule

Littler

Review of Key Bipartisan Retirement Policy Reform Proposals

October Three Consulting

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

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