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Retirement Plans Newsletter

March 15, 2023

4 New Job Opportunities 4 New Job Opportunities


[Official Guidance]

Text of IRS Notice 2023-25: Weighted Average Interest Rates, Yield Curves, and Segment Rates for March 2023 (PDF)

"This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates ... and the 24-month average segment rates ... [as well as] the interest rate on 30-year Treasury securities ... as in effect for plan years beginning before 2008 and the 30-year Treasury weighted average rate[.]"  MORE >>

Internal Revenue Service [IRS]

[Guidance Overview]

Form 5500 Trilogy Concludes with Latest Set of Changes

"[C]hanges include a standardized reporting schedule for multiple-employer plans (MEPs) and a new group filing alternative for single-employer defined contribution (DC) plans. More DC plans will be small plans exempt from annual audits under a new participant-counting rule that disregards nonparticipating employees. Other changes ... include detailed Schedule H expense reporting and IRS compliance questions. DOL also made several adjustments reflecting the SECURE 2.0 Act of 2022."  MORE >>


[Guidance Overview]

IRS Issues Proposed Regs for Use of Forfeitures in Qualified Retirement Plans

"[A] transition rule states that any forfeitures incurred during any plan year that begins before January 1, 2024 will be treated as having been incurred in the first plan year that begins on or after such date.... [W]ith respect to defined benefit plans ... the effect of forfeitures may be anticipated for purposes of planning for minimum funding."  MORE >>

Haynes and Boone, LLP

[Guidance Overview]

Tax-Free Rollovers of 529 Plan Funds to Roth IRAs Allowed Under SECURE 2.0

"SECURE 2.0 ... amends the Internal Revenue Code to permit tax‑free and penalty‑free rollovers from 529 accounts to Roth IRAs in certain circumstances. This is a great opportunity to extend tax-free investments for children or grandchildren. This provision takes effect in 2024 but, the rollovers are not allowed without limits."  MORE >>

The Modern Workplace, by Lathrop GPM

SECURE 2.0 Opportunities for Plan Sponsors

"For most of SECURE 2.0's optional provisions, implementation will be demand driven. That is, service providers are likely to develop things in order of need, depending on how much interest they've seen from the plan sponsors they support. And when they do, there could be a corresponding waitlist for implementation."  MORE >>


Is Automatic Enrollment Right for Your Small Business 401(k) Plan?

"Automatic enrollment can be a useful mechanism in getting more employees to save for retirement through the 401(k) plan. There are different automatic enrollment options available to your business and these options each have unique features."  MORE >>

Employee Fiduciary

Public Pension Plan Investment Return Assumptions (PDF)

"This brief discusses how investment return assumptions are established and evaluated, and the challenging investment environment public retirement systems currently face."  MORE >>

National Association of State Retirement Administrators [NASRA]


Higher Rates Buoy Retirees and Pensions Alike, But for How Long?

"[T]oday's rising rates present excellent opportunities for pension plans and retirement-focused investors. Even if an investor doesn't want to take substantial duration risk, they can utilize attractive rates in shorter-term government bonds.... [T]arget date funds [may] assume much too much risk for the average retirement investor."  MORE >>


Employee Benefits Jobs

View job as Actuarial Services Manager
            for FuturePlan, by Ascensus

Actuarial Services Manager

FuturePlan, by Ascensus


View job as Actuarial Services Manager for FuturePlan, by Ascensus

View job as Retirement Plan Consultant (Cash Balance)
            for FuturePlan, by Ascensus

Retirement Plan Consultant (Cash Balance)

FuturePlan, by Ascensus


View job as Retirement Plan Consultant (Cash Balance) for FuturePlan, by Ascensus

View job as Actuarial Consultant
            for Nyhart, part of FuturePlan by Ascensus

Actuarial Consultant

Nyhart, part of FuturePlan by Ascensus


View job as Actuarial Consultant for Nyhart, part of FuturePlan by Ascensus

View job as Financial Services Representative
            for The Standard

Financial Services Representative

The Standard


View job as Financial Services Representative for The Standard

Selected New Discussions

Completing Form W-4R for Distributions Under $200?

"Under what circumstances are practitioners having participants complete Form W-4R for lump sum distributions of balances under $200. Prior to 2023, based on the wording in the Special Tax Notice, the plans we administer did not withhold on lump sum distributions under $200. If the participant wanted federal income tax withheld, they would need to elect the withholding percentage on the distribution form. Is 20% withholding (or more) now the only option? Does Form W-4R not have to be provided because the plan is not required to withhold- even though it is an eligible rollover distribution, just not one that a direct rollover option is provided."

BenefitsLink Message Boards

PBGC Coverage for This Plan?

"CB plan covers only husband, wife, 22 year old daughter. Is this plan covered by the PBGC?"

BenefitsLink Message Boards

Safe-Harbor 401(k) for Partnership

"Recently took over a safe harbor 401K with 5 partners, no NHCEs, each in his own grouping for allocation purposes. One of the partners wishes to contribute $0 and we were told by the previous TPA that if the partner did not contribute, he is not considered part of the plan and therefore could not have a contribution allocation of $0??"

BenefitsLink Message Boards

Press Releases

iJoin Taps Benjamin Thomason to Guide Its Rapidly Growing Partner Channels


Federal Court Orders Defunct Milwaukee Info Technology Company, President to Restore $18k Withheld from Employees for Medical Plan

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

The Wagner Law Group Ranked Among the Largest Women-Owned Businesses in Massachusetts

The Wagner Law Group P.C.

Ameritas Joins the Retirement Advisor Council

Retirement Advisor Council

Last Issue's Most Popular Items

SECURE 2.0 Modifies Controlled Group and Affiliated Service Group Rules

The Wagner Law Group

Tax-Exempt and Church Plan Highlights from SECURE 2.0

Groom Law Group

Securing Your Retirement: Deciding When to Claim Social Security Benefits


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

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