logo logo

Retirement Plans Newsletter

March 14, 2023

New Job Opportunity Today New Job Opportunity Today


[Official Guidance]

Text of PBGC Interest Rate Assumptions for Valuing Benefits in Single-Employer Plans, Second Quarter 2023

"he second quarter 2023 interest assumptions will be 5.38 percent for the first 20 years following the valuation date and 5.09 percent thereafter. In comparison with the interest assumptions in effect for the first quarter of 2023, these interest assumptions represent no change in the select period (the period during which the select rate (the initial rate) applies), an increase of 0.52 percent in the select rate, and an increase of 0.39 percent in the ultimate rate (the final rate)."  MORE >>

Pension Benefit Guaranty Corporation [PBGC]


Bring Your Team to the 2023NAFE

Did you know that employers who bring their teams to NAFE receive discounted registration? With in-person & virtual participation options & 50+ breakouts across 4 tracks, your team will find the insights they need to succeed. Register today!

Sponsored by NIPA {National Institute of Pension Administrators]

[Guidance Overview]

SECURE 2.0 Modifies Controlled Group and Affiliated Service Group Rules

"SECURE Act 2.0 changes the family attribution rules to allow disaggregation of the entities if the only common ownership is the indirect ownership of the entities by a child under the age of 21 due to the attribution of the parents' ownership interests to the child.... [A second change disregards] community property laws when determining ownership for purposes of controlled groups and affiliated service groups."  MORE >>

The Wagner Law Group

[Guidance Overview]

Tax-Exempt and Church Plan Highlights from SECURE 2.0

"SECURE 2.0 ... updated 403(b) plan rules to conform more closely with 401(k) plan rules, and made a number of key changes specific to 457(b) plans (although many of those changes only apply to governmental 457(b) plans). Further, church plans that do not elect to be subject to ERISA were also impacted by a number of the changes made in SECURE 2.0."  MORE >>

Groom Law Group

[Guidance Overview]

SECURE 2.0: Required Minimum Distributions and DC Plan Lifetime Income

"SECURE 2.0 instructs the Department of Treasury to revise its RMD regulations to expand the availability of QLACs ... SECURE 2.0 also revises the RMD rules to permit defined contribution plans to offer [specific] features with respect to an annuity that has already commenced[.]"  MORE >>

Kilpatrick Townsend

[Guidance Overview]

SECURE 2.0: Tax Credits for Administrative and Contribution Costs for New Plans for Small Employers

"The SECURE Act 2.0 provides significant tax credits for startup plan costs -- for both administration and contribution costs. The credits are fully available for employers with 50 or fewer employees and partially available up to 100 employees. This provision is effective now, that is, it is effective for tax years beginning after December 31, 2022 (in 2023 for calendar year taxpayers)."  MORE >>


A better 401k audit. A better experience. Starting at $9,000.

401(k) audits are required, but they shouldn’t be so intrusive, take so long, or cost so much. PriceKubecka’s audit technology reduces the hours needed to produce a high-quality audit by 70%. That saves time – and money. Let’s schedule yours.

Sponsored by PriceKubecka

Company Stock in Bank Retirement Accounts Takes a Hit Following Silicon Valley Bank Collapse

"[Silicon Valley Bank (SVB)] had a combined ESOP and 401(k) plan that held about 19% of its assets [in SVB stock] in 2021 ... valued at about $245 million at that time. Several other bank retirement plans were significantly invested in company stock, including Zions Bancorp, which held 23% of its assets in bank stock as of the end of 2021. Its stock fell 36% from March 8 to March 13."  MORE >>

National Center for Employee Ownership [NCEO]

The Impact of Working Retirees and How 401(k) Plan Sponsors Should Respond

"Working retirees can be a pushmi-pullyu for 401k plans. On the one hand, more part-time workers mean more people earning the minimum needed to max out the company match. This could put a strain on the benefits budget.... On the other hand, employees working longer can keep assets high and allow the fund to qualify for lower pricing tiers."  MORE >>

Fiduciary News; free registration required

401(k) Options That Support Employees' Holistic Financial Wellbeing

"[1] Financial coaching ... [2] Automatic enrollment ... [3] Sidecar emergency savings ... [4] Bonuses and/or unused PTO contributions ... [5] Student loan payment diversion ... [6] Automatic deferral rate increases."  MORE >>

HR Daily Advisor

Securing Your Retirement: Deciding When to Claim Social Security Benefits

"This decision can have a significant impact on your financial well-being in retirement. There are several factors to consider when making this decision, including your current financial situation, projected retirement expenses, health and life expectancy, and other sources of retirement income."  MORE >>


Employee Benefits Jobs

View job as 5500 Team Lead
            for 401k Generation

5500 Team Lead

401k Generation

Altamonte Springs FL / Hybrid

View job as 5500 Team Lead for 401k Generation

Selected New Discussions

Surrender of Insurance Policy Held in 401(k) Plan

"Plan allowed insurance and the participant was paying premiums from his account. Participant decided he no longer wanted the insurance and contacted the insurance provider and cancelled the policy. The provider sent him a check for the Cash Surrender Value. The insurance company was not responsible for the 1099R. The Cash Surrender Value was $56,000. The plan issued a 1099R to the participant for the full Cash Surrender Value. The participant stated the insurance company told him he would only pay tax on the gain of the policy - difference between the Surrender Value and the investment in the policy, this was approximately $9,356. Since the premiums were paid with pre tax dollars, isn't the total Cash Surrender Value taxable income? I am not sure the insurance company realized this was held under a 401(k) Plan vs a private policy."

BenefitsLink Message Boards

Grandfathered CODA

"We have a plan that has a 5% PS contribution. Many years ago they permitted employees to receive the 5% as cash instead of the PS. They eliminated that option but we still have a handful of employees still receiving the cash instead of the PS. Would this be permitted? Would that make the entire PS a coda even though they no longer have the option to take as cash?"

BenefitsLink Message Boards

Press Releases

Pentegra Publishes Advisor Study on 3(16) Fiduciary Outsourcing in Conjunction with Second Annual 3(16) Day


Webcasts and Conferences
(Retirement Plans / Executive Compensation)

Implications of Employee Tenure on Benefit Design

March 22, 2023 WEBINAR

EBRI [Employee Benefit Research Institute]

How to Make Plan Corrections and Use the Voluntary Fiduciary Correction Program

April 26, 2023 WEBINAR

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

ERISA Basics National Institute 2023

June 6, 2023 in NV

American Bar Association Joint Committee on Employee Benefits [JCEB]

Last Issue's Most Popular Items

Which Expenses Can Be Paid with Plan Assets?

Holland & Hart LLP

Tips to Maximize Your Savings Near Retirement

Charles Schwab

Form 5500 Rules Will Simplify Process for Plan Sponsors, But More Changes Are Ahead

Pensions & Investments

Unsubscribe  |   Change Email Address

Search Past Issues   |   Privacy Policy

Submit an Article   |   Contact Us   |   Advertise Here

Copyright 2023, Inc. All materials contained in this newsletter are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of, Inc., or in the case of third party materials, the owner of those materials. You may not alter or remove any trademark, copyright or other notices from copies of the content.

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

Links to web sites other than and are offered as a service to our readers. We are not involved in their production and are not responsible for their content.