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Retirement Plans Newsletter

March 16, 2023

3 New Job Opportunities 3 New Job Opportunities


[Guidance Overview]

SECURE 2.0: IRS Provides IRA Reporting Relief for 2023 RMDs

"On March 7, the IRS issued Notice 2023-23 to provide guidance on how IRA providers may comply with the new rules, as well as some relief to address non-compliance based on the late hour of the law change."  MORE >>

Groom Law Group


ASC Webcast – EPCRS (IRS Employee Plans Compliance Resolution System) Case Studies

Mistakes happen! EPCRS allows you to correct your plan mistakes. John Griffin, J.D. LL.M. will illustrate common errors and suggested solutions via real life case studies. EPCRS correction methods include SCP, VCP and Audit CAP. Sign up now!

Sponsored by ASC

[Guidance Overview]

DOL Issues Changes to Benefit Plan Audit Requirements and Form 5500

"While the 100-participant threshold is still in place, it would now only apply to those with account balances, presumably at the beginning of the plan year. For example, if your plan had 150 eligible participants but only 75 of them had account balances at 1/1/2023, your plan would not be subject to the audit requirement for the 2023 plan year."  MORE >>

Meaden & Moore

[Guidance Overview]

Recent IRS Guidance Focuses on Rules for Qualified Foreign Pension Funds

"The Final Rule comes nearly four years after the IRS issued its proposed rule regarding the availability and application of the Code section 897(l) exemption. Substantively, the Final Rule retains much of the 2019 proposed rule. However, there are some notable changes and clarifications[.]"  MORE >>

Groom Law Group

Two District Courts Reach Opposite Conclusions on 401(k) Excessive Fee Claims

"Although the disparate results can arguably be rationalized by the underlying facts in each case, the opinions show that district courts continue to apply inconsistent principles in adjudicating these claims at the motion to dismiss stage." [Sigetich v. The Kroger Co., No. 21-697(S.D. Oh. Mar. 9, 2023); Lucero v. Credit Union Retirement Plan Assoc., No. 22-208 (W.D. Wis. Mar. 9, 2023)]  MORE >>



'Humble Arithmetic' and the Future of 401(k) Litigation

"One of the key unresolved issues involves which party has the burden of proof on the issue of causation in ERISA 401(k) litigation. The DOL recently filed an amicus brief ... [which] supports the position of the common law of trusts, the First Circuit Court of Appeals' and the Solicitor General position that the plan sponsor has that burden.... [T]hat burden may prove a difficult one to carry in most cases if SCOTUS adopts that position as well."  MORE >>

The Prudent Investment Adviser Rules


How Will a New Age of Austerity Affect Retirement Plans?

"The political fallout from [the 2011= debt ceiling fight ... resulted in an age of austerity in Washington for the next several years in which all types of spending cuts and revenue raisers were on the table, including various proposals attacking the tax incentives for retirement savings. It is instructive now to review those proposals again and highlight the potential damage to the retirement savings of American workers if they are enacted[.]"  MORE >>

American Retirement Association [ARA]


Are Deposits Above the FDIC Guarantee Fully Backed by the Government? A Review of Past Bank Failures and an Alternative Solution to Traditional Banking

"A key question all employers and retirement plans need to think about for the future is will the government always fully insure bank deposits above the FDIC guarantee.... [T]his paper will explore the basics of the FDIC insurance program, what a customer could expect to receive in a scenario where the government does not step in to fully back deposits that exceed the FDIC guarantee, and how Bitcoin may be a solution employers adopt once market conditions fall into certain parameters."  MORE >>

Ryan P. Moulder

Employee Benefits Jobs

View job as Benefits Production Manager
            for IUOE Local No. 478 Employee Benefit Funds

Benefits Production Manager

IUOE Local No. 478 Employee Benefit Funds

Hamden CT

View job as Benefits Production Manager for IUOE Local No. 478 Employee Benefit Funds

View job as Retirement Plan Administrator
            for ERISA Services, Inc.

Retirement Plan Administrator

ERISA Services, Inc.


View job as Retirement Plan Administrator for ERISA Services, Inc.

View job as Retirement Plan Consultant
            for Retirement Recruiters - CPS, inc

Retirement Plan Consultant

Retirement Recruiters - CPS, inc

Remote / Chicago IL / CA / GA / MI / NE / NJ / PA / TX

Selected New Discussions

Elective Contribution Did Not Go Through Payroll

"For some reason, the last salary deferral for a participant did not go through payroll. In an effort to get the contribution invested by 12/31, he wrote a personal check, which was then deposited into his account. How does one correct this???"

BenefitsLink Message Boards

Press Releases

NPPG's Acquisition of Oriental's Retirement Plan Record Keeping and Third- Party Administration Line of Business Expands Employee Benefit Services Outside of the Continental United States


IRI Honors Sammons' Bill Lowe as Champion of Retirement Security

Insured Retirement Institute [IRI]

IRI Announces Leadership and Chairman Award Recipients

Insured Retirement Institute [IRI]

OneDigital Expands Benefits and Retirement Presence With Addition of The Clear Group and 401K Resources


Webcasts and Conferences
(Retirement Plans / Executive Compensation)

The SECURE Act 2.0: What Employers Need to Know

April 19, 2023 WEBINAR


Public Sector Pension Administration and Compliance Issues

April 20, 2023 WEBINAR


Last Issue's Most Popular Items

Form 5500 Trilogy Concludes with Latest Set of Changes


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

The Modern Workplace, by Lathrop GPM

SECURE 2.0 Opportunities for Plan Sponsors


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

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