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Retirement Plans Newsletter

November 7, 2022

6 New Job Opportunities 6 New Job Opportunities

 

[Official Guidance]

DOL Proposes to Amend QPAM Exemption (PDF)

"The proposed changes are substantial and may significantly impact who in the future can meet or who is willing to meet the requirements of the QPAM Exemption."  MORE >>

Groom Law Group, via The Investment Lawyer

[Sponsor]

Get Your CE Credits Before It Is Too Late!

ASPPA’s current two-year CE cycle ends December 31, 2022. Get your CE credits now from top CE webcast provider - ASC. View ASC’s recorded webcasts here>>

Sponsored by ASC

[Guidance Overview]

PBGC Issues Proposed Rule Clarifying Plan Actuaries' Flexibility to Determine Interest Rates for Withdrawal Liability Assessments

"[W]hile the proposed rule does not prohibit the use of its assumptions retroactively, the use of any rate other than the minimum funding rate could continue to be challenged as not reasonable actuarial assumptions and not the actuary's best estimate under Section 4213(a)(1), if used for any withdrawals that occur before the effective date of the final rule."  MORE >>

Slevin & Hart, P.C.

[Guidance Overview]

Update on New Federal Tax Withholding Forms for Pension Benefit Payments

"Plan sponsors should pay particular attention to the following notable items ... [1] For payments that began before 2022 ... a pensioner is not required to complete a new Form W-4P, and the prior withholding election ... remains in effect unless the pensioner submits a new Form W-4P. [2] For an eligible rollover distribution, the Form W-4R is used to select a withholding rate greater than the 20% default withholding rate. [3] For nonperiodic payments, the Form W-4R is used to select a withholding rate (between 0% and 100%) other than the 10% default withholding rate."  MORE >>

Buck

DC Plan ESG Use Drops in 2022

"A potential backlash on ESG investing along with confusion over DOL guidance led to an 14% drop in ESG implementation by institutional investors include large pension and DC plans, according to new research from Callan."  MORE >>

PLANSPONSOR; free registration may be required

U.S. Pension Briefing, October 2022

"Discount rates continued climbing, ending the month at yet another recent high point. Equity returns were positive for the month, but are still significantly down for the year.... With liabilities decreasing with the rising discount rates, most pension plans will see an increase in their funded status this month, particularly those with more equity exposure."  MORE >>

Agilis

Pension Funding Index, November 2022

"The funded status of the 100 largest corporate defined benefit pension plans posted their largest monthly increase for the year in October, improving by $47 billion ... An increase in the benchmark corporate bond interest rates used to value pension liabilities led to a decrease in plan liabilities, representing a gain of $51 billion for the month. As of October 31, the funded ratio jumped to 112.8%, from 108.8% at the end of September, and the funded status surplus increased to $163 billion."  MORE >>

Milliman

U.S Pension Finance Watch, October 2022

"The WTW Pension Index in October 2022 increased to the highest level it has seen in over two decades, despite the volatility seen in the month. Strong investment returns were combined with the reduction in liabilities due to a continued increase in discount rates. As a result, the end-of-October index level of 105.4 reflects an increase of 8.7% for the month. This is the first time the hypothetical plan represented by the index has achieved full funding since March 2002"  MORE >>

Willis Towers Watson

Benefits in General

[Official Guidance]

Department of the Treasury 2022-2023 Priority Guidance Plan (PDF)

26 pages.  Employee benefits items begin on page 4.  MORE >>

U.S. Department of the Treasury and Internal Revenue Service [IRS]

Employee Benefits Jobs

View job as Senior Retirement Plan Administrator
            for Prime Pensions

Senior Retirement Plan Administrator

Prime Pensions

Remote / CA / CT / NJ / NY / OR / WA

View job as Senior Retirement Plan Administrator for Prime Pensions

View job as ERISA Production Manager
            for July Business Services

ERISA Production Manager

July Business Services

Remote

View job as ERISA Production Manager for July Business Services

View job as Data Entry Clerk
            for Agapé Boarding School

Data Entry Clerk

Agapé Boarding School

Remote

View job as Data Entry Clerk for Agapé Boarding School

View job as Pension Compliance Administrator
            for Associated Pension Consultants

Pension Compliance Administrator

Associated Pension Consultants

Remote

View job as Pension Compliance Administrator for Associated Pension Consultants

View job as Senior Defined Contribution Account Manager
            for Nova 401(k) Associates

Senior Defined Contribution Account Manager

Nova 401(k) Associates

Remote / Houston TX / Scottsdale AZ

View job as Senior Defined Contribution Account Manager for Nova 401(k) Associates

View job as New Business Data Specialist
            for The Standard

New Business Data Specialist

The Standard

Remote / FL

View job as New Business Data Specialist for The Standard

Press Releases

Don't Waste Time or Money: Health-E Commerce Urges Consumers to Check Flexible Spending Account (FSA) Balances as Use-It-or-Lose-It Deadline Returns for Many in December

Health E-Commerce

Congruent Solutions Leverages Metaverse to Showcase Its Core Contributions Module

Congruent

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

The 4% Rule Reimagined

RECORDED

The Lowe Group

Sustainability: Aligning Organisational Goals to Pension Portfolios

RECORDED

WTW

Year-End Retirement Plan Review

November 16, 2022 WEBCAST

Miller Johnson

https://www.boltonusa.com/the-impact-of-high-inflation-on-pension-plans/

December 13, 2022 WEBCAST

Bolton

Ask A Benefits Attorney

December 21, 2022 WEBCAST

Miller Johnson

Last Issue's Most Popular Items

2022 Retirement Plan Year-End Amendments and Operational Compliance

Groom Law Group

New Withholding Rules and Forms for Retirement Plan Distributions

Withum Smith+Brown, PC

What Happens When Funding Relief Is No Longer Relief

Agilis

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

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