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Retirement Plans Newsletter

August 19, 2022

5 New Job Opportunities 5 New Job Opportunities


[Official Guidance]

Text of EBSA Announcement of Public Hearing and Reopening of Comment Period on Proposed Changes to PTE Application Procedures

"[EBSA] will hold a virtual public hearing regarding the proposed amendment to its prohibited transaction exemption filing and processing procedures.... The public hearing will be held on September 15, 2022, and (if necessary) September 16, 2022 ... [The] comment period for the proposed amendment [will be reopened] on September 15, 2022. The Department will publish a Federal Register notice announcing that the hearing transcript is available on EBSA's webpage and when the reopened comment period closes."  MORE >>

Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]

[Guidance Overview]

IRS PLR Addresses Transfer of Excess Pension Plan Assets to Multiple DC Plans

"[IRS PLR 202230006 ruled] that the three receiving [DC] plans collectively met the conditions to be treated as a [qualified replacement plan (QRP)] even though they did not separately meet the conditions.... The IRS also addressed the allocation of the excess assets among the three receiving plans."  MORE >>

Grant Thornton

[Guidance Overview]

DOL Proposes Changes to the QPAM Exemption

"[1] Updates to the financial eligibility thresholds for registered investment advisers (RIAs), banks, savings and loan associations, and insurance companies ... [2] New QPAM filing requirement ... [3] Proposed changes to the ten-year disqualification ... [4] Wind down for disqualified QPAMs ... [5] Recordkeeping ... [6] Mandatory management agreement language."  MORE >>

Winston & Strawn LLP

[Guidance Overview]

Investment Managers Beware: DOL Proposes Major Changes to QPAM Exemption

"The [DOL's] proposed amendment to the QPAM Exemption would impose stricter conditions and make it more difficult for managers to avail themselves of one of the most commonly utilized ERISA exemptions."  MORE >>

K&L Gates

Division of Fiduciary Duties Proves Key to Success in Stock Drop Lawsuit

"The Seventh Circuit based its conclusion on the fact that an independent fiduciary, rather than the Boeing defendants, had exclusive fiduciary responsibility for the company stock fund and therefore [Boeing] had no duty to disclose corporate insider information to the participants or the independent fiduciary." [Burke v. The Boeing Company, No. 19-2203 (7th Cir. Aug. 1, 2022)]  MORE >>

Groom Law Group

Benefits in General

[Guidance Overview]

IRS 2021-2022 Priority Guidance Plan: 4th Quarter Update (PDF)

35 pages.  Employee Benefits items begin on page 3.  MORE >>

Internal Revenue Service [IRS]

What Employment Lawyers Should Know About ERISA

"This article will endeavor to provide a practical overview of ERISA, followed by some pointers for how to spot and address ERISA problems that commonly arise in the employment law context.... [1] ERISA: A brief overview ... [2] ERISA's requirement of a 'full and fair review' ... [3] Common ERISA mistakes employment lawyers make."  MORE >>

DeBofsky Sherman Casciari Reynolds P.C.

Employee Benefits Jobs

View job as Retirement Plan Administrator
          for Premier Plan Consultants Retirement Plan Administrator

Premier Plan Consultants

Remote / San Diego CA

View job as Retirement Plan Administrator
          for Premier Plan Consultants

View job as Employee Benefits Consultant
          for ORBA Employee Benefits Consultant


Remote / Chicago IL

View job as Employee Benefits Consultant
          for ORBA

View job as Healthcare Actuarial Consultant
          for BPAS Healthcare Actuarial Consultant


Remote / Syracuse NY

View job as Healthcare Actuarial Consultant
          for BPAS

View job as Retirement/ERISA 401(k) - Relationship Manager I
          for National Benefit Services Retirement/ERISA 401(k) - Relationship Manager I

National Benefit Services

Remote / West Jordan UT

View job as Retirement/ERISA 401(k) - Relationship Manager I
          for National Benefit Services

View job as Retirement Consultant for Non-Qualified Plans
          for Newport, an Ascensus Company Retirement Consultant for Non-Qualified Plans

Newport, an Ascensus Company

Remote / Lake Mary FL

View job as Retirement Consultant for Non-Qualified Plans
          for Newport, an Ascensus Company

Press Releases

Co-Founding Partner Rob Butterfield to Be Recognized in 2023 Edition of the Best Lawyers in America©

Butterfield Schechter LLP

21 Groom Attorneys Named Among The Best Lawyers in America 2023

Groom Law Group

Lincoln Financial Announces the Launch of Stadion Money Management's Storyline Dynamic, a Qualified Default Investment Alternative Solution

Lincoln Financial Group

As Temperatures and Job Market Heat Up, Small Businesses Offered Incentives to Set Up New 401(k) Plans Before October 1 Safe Harbor Deadline

Sharebuilder 401k

Levine Leichtman Capital Partners Portfolio Company Blue Ridge ESOP Associates Acquires Tax Benefits Plan Services Business of Crowe

Blue Ridge ESOP Associates

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

(How) Did The COVID-19 Pandemic Impact Older Americans’ Retirement Finances & Expectations?

September 15, 2022 WEBCAST

EBRI [Employee Benefit Research Institute]

Benefits Forum 2022: Retirement Plans - Risks, Rewards & What's Ahead

September 22, 2022 in VA

Williams Mullen

Fiduciary Compliance in ESOP Transactions: Recent DOL Settlement Agreements and Best Practices for Counsel

October 6, 2022 WEBCAST


Last Issue's Most Popular Items

401(k) Compliance Check: Amending Your 401(k) Plan Document on Time

Foley & Lardner LLP

Policies Each 401(k) Plan Should Have in Place

Retirement Management Services, LLC

Myths About Variable Annuities


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

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