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Retirement Plans Newsletter

April 13, 2023

2 New Job Opportunities 2 New Job Opportunities


[Guidance Overview]

Implementing SECURE 2.0's Roth Provisions May Tax DC Plan Sponsors

"The SECURE 2.0 Act sets the stage to greatly expand Roth savings in defined contribution plans. Agency guidance is needed to fully implement the extensive changes."  MORE >>


States Double Down on Effort to Block ESG 401(k) Rule

"States challenging the [ESG] investing rule in a Texas federal court said in a [reply brief] that the Biden administration's position burdens plan participants as opposed to the fiduciaries charged with protecting them.... Plaintiffs claim that the DOL's rule violates ERISA and is so broad that it triggered the major questions doctrine, meaning congressional input was necessary and more pertinent than regulatory agency deference." [Utah v. Su, No. 23-00016, (N.D. Tex. reply brief filed Apr. 11, 2023)]  MORE >>

Bloomberg Law

Multiemployer Pension Plan Update, Q2 2023

Topics: [1] Key statistics about vendors" cybersecurity practices; [2] Implications of 2022 returns for multiemployer retirement plans; [3] Information about stagflation and the strength of the U.S. dollar; and [4] Key retirement reform provisions of SECURE 2.0.  MORE >>


Pros and Cons of Government 457(b) Retirement Plans

"The 457(b) retirement plan offers many advantages to government workers, including tax-deferred growth of their savings, but these plans do come with some drawbacks. Here's how the 457(b) plan works and what you need to watch out for."  MORE >>

Bankrate, via MSN News

Has the Switch to DC Plans Led to Larger Wealth Transfer Opportunities?

"A new study contends that there is a growing opportunity for wealth transfers, not only among the wealthy but also among lower-asset households affected by the transition from defined benefit to defined contribution plans."  MORE >>

American Retirement Association [ARA]

Benefits in General

Principled Performance Drives Fiduciary Excellence (PDF)

"Savvy human resources and finance leaders have realized that the dimensions of their EBP oversight responsibilities also require skills in governance, administration, and controls. They have learned -- some the hard way -- that those skill sets are equally, if not more, critical than ... investment discipline and must include health and welfare programs. This modern way of thinking is essential for achieving fiduciary excellence and Principled Performance."  MORE >>

Roland Criss, via Journal of Compensation and Benefits

Jury Trials in the ERISA Context: An Anomaly or a Trend? (PDF)

"Recently ... a court in the U.S. District Court for the District of Connecticut joined the U.S. District Court for the Southern District of New York to buck the weight of authority and allow for a jury trial for at least some ERISA claims. These cases raise the question of whether there has been a meaningful shift in how courts view fiduciary breach claims or whether these cases are outliers, and why."  MORE >>

Jenner & Block, via Employee Relations Law Journal

Employee Benefits Jobs

View job as DC Plan Administrator
            for The Benefit Advantage

DC Plan Administrator

The Benefit Advantage

Remote / West Bloomfield MI

View job as DC Plan Administrator for The Benefit Advantage

View job as Sr. Retirement Plan Compliance Analyst
            for FuturePlan, by Ascensus

Sr. Retirement Plan Compliance Analyst

FuturePlan, by Ascensus


View job as Sr. Retirement Plan Compliance Analyst for FuturePlan, by Ascensus

Selected New Discussions

Might a Cash-Balance Pension Plan Provide No Benefit After an Unmarried Participant's Death?

"In a recent BenefitsLink discussion on how to handle a situation about an absence of a participant’s beneficiary designation, Calavera alluded to some possibility that a pension plan might, if there is no surviving spouse and no participant-designated beneficiary, provide no benefit distributable after the participant’s death. Even if it’s rare, has anyone seen a cash-balance pension plan with provisions like that?"

BenefitsLink Message Boards

Allowing Roth Only for Catch Up Contributions?

"What do you think? Can a plan allow Roth contributions to only be made for catch up contributions? Participants who are under age 50 would have no option to make a Roth contribution -- Roth would only be available to those who are making catch up contributions."

BenefitsLink Message Boards

Loan Repayments Allocated to Sources Differently Than Loan Withdrawal

"This is for a large 401(k) plan that is administered by a major payroll/benefits company. The funds for new loans are withdrawn from several sources ... In most cases (if not all) for the repayments, principal is only applied to one source -- the profit sharing source. No principal is applied to deferral, Roth or safe harbor match until the loan balance in the profit sharing source is paid in full. For example, a participant took a $3200 loan -- 75% from the deferral source, 12% from the safe harbor source, and 13% from the profit sharing source. The payments show that only interest is credited back to the deferral & safe harbor match sources and the profit sharing source is credited with all the principal repayment and some interest. Is this ok? I have only seen repayments applied back in the same manner as they were withdrawn."

BenefitsLink Message Boards

Press Releases

OneDigital Announces Acquisition of Sequoyah Group


Renee Scherzer Named President of the National Association of Plan Advisors


OneAmerica joins the Retirement Advisor Council

Retirement Advisor Council

PBGC Rated Among Best Places to Work in Federal Government

PBGC [Pension Benefit Guaranty Corporation]

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

Long-Term Part-Time Employees


ASPPA [American Society of Pension Professionals & Actuaries]

Taking Your Retirement Strategy to the Next Level



Last Issue's Most Popular Items

SECURE 2.0: Mandatory Automatic Enrollment Coupled with Corrective Contribution Relief

Belfint Lyons Shuman

A (Really) Surprising Reason for High Retirement Plan Leakage

American Retirement Association [ARA]

Corporate DB Plans Still Hard to Beat

Pensions & Investments

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

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