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Retirement Plans Newsletter

March 10, 2023

2 New Job Opportunities 2 New Job Opportunities


[Guidance Overview]

PBGC Provides Update for Non-Priority Group SFA Applications

"[T]he new rules create a process for non-priority group plans to request to be on the waitlist to apply for SFA. Requests to be on the waitlist may be made beginning at 9 am EDT on March 13, 2023. The request to be on the waitlist is separate from the lock-in option introduced in the final rule on SFA published in July 2022."  MORE >>


Budget Proposal Resurrects 'Build Back Better' Retirement Plan Revenue Raisers

"According to the Treasury Department's description, the five-part retirement proposal would modify rules relating to retirement plans by preventing 'excessive accumulations by high-income taxpayers in tax-favored retirement accounts and make other reforms.' The White House estimates that these changes would raise $22.7 billion over the period 2024-2033."  MORE >>

American Retirement Association [ARA]

Self-Directed 401(k) Investor Balances Increase in Q4 2022

"[T]he average account balance across all participant accounts finished at $280,099 for the fourth quarter ending December 31, up by 2.45% from the third quarter of 2022 and down 20.6% year-over-year.... Equities remained the largest holding at 31.3%.... Trading volumes were lower at an average of 9.6 trades per account compared to 10.6 trades per account in the third quarter and lower than a year ago."  MORE >>

Charles Schwab

2022 ESOP Valuation Expectations and 2023 Transaction Pricing Considerations

"ESOP valuations are primarily driven by future cash flows and how those cash flows satisfy the return requirements of capital providers (lenders and shareholders). With this in mind, what are some of the overriding trends from 2022 and expectations for 2023 that could influence valuations for 2022 and into the foreseeable future?"  MORE >>

The ESOP Association

Executive Compensation and Nonqualified Plans

NYSE and Nasdaq Propose Clawback Listing Standards: Considerations for Public Companies

"Specific considerations include ... [1] Whether to maintain one clawback policy or multiple policies.... [2] Ensure that any new clawback policy covers all required compensation.... [3] Ensure that the board of directors and board committees are kept up to date on the clawback rule.... [4] Consider appropriate financial metrics for future incentive compensation.... [5] Keep the clawback rule in mind when entering into new agreements or implementing new compensation programs."  MORE >>

Morgan Lewis

Employee Benefits Jobs

View job as Retirement Plan Consultant
            for Henderson Brothers

Retirement Plan Consultant

Henderson Brothers

Remote / Pittsburgh PA

View job as Retirement Plan Consultant for Henderson Brothers

View job as Retirement Plan Consultant
            for Definiti

Retirement Plan Consultant



View job as Retirement Plan Consultant for Definiti

Selected New Discussions

Incorrect Calculation on Unsigned and Not Finalized QDRO

"I started a 401K plan in 2000, stopped contribution in 2011 because of job change; was married in 2005. I just received copy of QDRO and they are asking for 50% and it is not a correct calculation. What can I file to correct the order?"

BenefitsLink Message Boards

C Corp to S Corp: impact on Defined Contribution Plan?

"Can anyone tell me what impact (if any) changing from a C corp to and S corp might have on the company's profit sharing plan. The owner is the only employee."

BenefitsLink Message Boards

Gateway Contribution If No HCE?

"If there are no HCE's who are left participating in a DB/DC combo plan (an odd situation, I know, and it may just be a 1 year aberration), how would that impact the Gateway? Is it still the 7.5% or can that be reduced dramatically? The employer is going through some turmoil and change over so just want to make sure what we can/can't do."

BenefitsLink Message Boards

Press Releases

ReKlame Health Joins Cigna In-Network, Reducing Psychiatric Care Barriers for BIPOC Communities


Deadlines and Tax Tips: Health-E Commerce Issues Smart Money Reminders for Flexible Spending Account (FSA) and Health Savings Account (HSA) Users

Health-E Commerce

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

‘Plausible’ Denials: New Twists & Turns in ERISA Litigation


American Retirement Association [ARA]

Advisor Attitudes Towards 3(16) Fiduciary Outsourcing

March 16, 2023 WEBINAR


Last Issue's Most Popular Items

SECURE 2.0 Updates Family Attribution Rules for Aggregation of Businesses

Boutwell Fay LLP

SECURE 2.0: Some Recordkeepers Are Hitting the Ground Running

Corporate Insight

IRS Clarifies Required Minimum Distribution Reporting

Journal of Accountancy

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

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