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Retirement Plans Newsletter

November 10, 2022

6 New Job Opportunities 6 New Job Opportunities


[Guidance Overview]

Exceptional Usefulness and Quality icon State-Facilitated Retirement Savings Programs (PDF)

"In recent years, more than 40 states and several cities have considered requiring employers that do not maintain a retirement plan to offer a retirement savings program to their employees.... The apparently intractable access problem ... History and background ... Should any mandate be state or federal? ... Other potential drawbacks of Auto IRAs ... Early research findings ... The racial wealth gap ... Selected features of state programs ... Should employers continue to be involved in providing retirement benefits? ... Why are small firms less likely to offer a retirement plan?"  MORE >>

Prof. David A. Pratt, via Journal of Pension Benefits

A DOL ESG Investigation Story

"An adviser's message to his peers is to not fear including ESG factors in investment analysis.... [Todd Kading, of LeafHouse Financial in Austin, Texas,] speculates that the DOL contacted his firm wanting to investigate its ESG screening process because it had done no research prior to issuance of the new rule.... This led to nearly a year of back and forth with the DOL."  MORE >>


Tracking Down a Lost 401(k)

"[T]here are some 24 million forgotten 401(k)s holding assets in excess of $1.3 trillion. If left unattended for too long, old accounts can be converted to cash -- and even transferred to the state as unclaimed property -- forgoing their future growth potential."  MORE >>

Charles Schwab

Withdrawal Liability Actuarial Assumptions: Did PBGC's New Proposed Regs Get It Wrong?

"[S]ince ERISA Section 4213(a)(1) does require reasonable actuarial assumptions that can be challenged in court, and the newly proposed regulations under ERISA Section 4213(a)(2) give the plan actuary a permitted range of assumptions, (i.e., plan termination assumptions or ongoing funding assumptions or anything in between) a court could logically read these regulations and Section 4213(a)(2) to require that when an actuary chooses an interest rate in the permitted range, it must be a reasonable choice."  MORE >>

Charles C. Shulman, Esq.


What Makes Bitcoin Unique Compared to All Other Cryptocurrencies: A Guide for Fiduciaries, Money Managers, and Regulators

"Within the last year some employers have offered their workforce the opportunity to make defined contribution investments in various cryptocurrencies.... [The] biggest concern with the continued guidance issued is that all of the cryptocurrencies are lumped together. There is still a great misunderstanding by many in the government as well as many fiduciaries and money managers as to what makes Bitcoin unique and stand-alone compared to all other cryptocurrencies."  MORE >>

Crypto US Tax Attorneys


Withdrawal Rates in Retirement

"Predetermined formulas are subject to too many variables to remain valid over a reasonable period. The formulas can also set in motion an automatic withdrawal process that might not be sustainable over long periods or periods of great upheaval."  MORE >>

Withum Smith+Brown, PC


Broward County's Hidden (b) Plan

"Broward is one of the few public school employers who went through the complicated process of taking their plan out to bid. They did a pretty good job, but they don't want anyone to know about it for some reason. This is baffling; it's also a mistake."  MORE >>

The Teacher's Advocate

Benefits in General

How to Prevent Inflation Worries from Impacting Employee Retirement

"[1] Financial advice & guidance.... [2] Student loan assistance.... [3] Health savings accounts (HSAs).... [4] Auto-enrollment and employer retirement matching."  MORE >>

VOYA Financial

Employee Benefits Jobs

View job as Defined Contribution Administrator
            for PACETPA

Defined Contribution Administrator


Remote / Madera CA

View job as Defined Contribution Administrator for PACETPA

View job as DC Plan Administrator
            for Actuaries Unlimited, Inc.

DC Plan Administrator

Actuaries Unlimited, Inc.


View job as DC Plan Administrator for Actuaries Unlimited, Inc.

View job as Quality Assurance Manager
            for Nova 401(k) Associates

Quality Assurance Manager

Nova 401(k) Associates


View job as Quality Assurance Manager for Nova 401(k) Associates

View job as Senior 401(k) Administrator
            for Nova 401(k) Associates

Senior 401(k) Administrator

Nova 401(k) Associates


View job as Senior 401(k) Administrator for Nova 401(k) Associates

View job as Director of Transactions (Managerial)
            for MAP Retirement

Director of Transactions (Managerial)

MAP Retirement


View job as Director of Transactions (Managerial) for MAP Retirement

View job as Retirement Administration - Testing Specialist
            for Ascensus

Retirement Administration - Testing Specialist



View job as Retirement Administration - Testing Specialist for Ascensus

Selected New Discussions

Mistaken Double-Payment to DOL on a DFVC Filing

"Client paid 2x for one filing in error. How do we request a refund? There is nothing on the DOL's DFVC webpage. The client's receipt mentions the Office of the Chief Accountant, which of course is a recording asking to leave a message and 'we'll get back to you.' Keep calling? Any other suggestions?"

BenefitsLink Message Boards

Beneficiary's Inherited Funds Will Stay in Plan; Is Spouse's Consent Needed by Beneficiary to Name a Non-Spouse Beneficiary?

"A non-spouse beneficiary has elected to leave her inherited funds in the 401(k) plan. The plan does not allow annuities. She is married but does not wish to name her spouse as sole beneficiary of her assets in the plan. Is spousal consent required?"

BenefitsLink Message Boards

Is Interest on Late Contributions Needed?

"We have a new client that just realized that a 2021 Matching contribution was missed for a few participants. Do they need to also add interest for the late contributions? I believe that, because the market is down, no interest was needed because the participants actually have benefited from not being invested in the market. Agree?"

BenefitsLink Message Boards

Press Releases

Lynn Young of Pinnacle Plan Design Receives Two Prestigious Industry Awards

Pinnacle Plan Design

Voya Adds Private Equity Investment Option to Its Nonqualified Deferred Compensation Offeri

Voya Financial

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

Navigating Murky Waters: Ethics for ERISA and Executive Compensation Lawyers

December 13, 2022 WEBCAST

American Bar Association [ABA]

Last Issue's Most Popular Items

What Kind of Payments Can a Hardship Request Cover When Buying a Home?

PLANSPONSOR; free registration may be required

403(b) Plans May Apply for IRS Determination Letters Starting Next June

PLANSPONSOR; free registration may be required

IRS Expands Determination Letter Program for 403(b) Retirement Plans

Thomson Reuters Practical Law

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

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