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Retirement Plans Newsletter

October 18, 2023

6 New Job Opportunities 6 New Job Opportunities


[Official Guidance]

PBGC Announces 2024 Maximum Guarantee Limits

As a result of the indexing rules provided by law, the maximum guarantee limits for single-employer plans that fail in 2024 will be 5.30% higher than the limits that applied for 2023. A table showing the 2024 guarantee limits for various ages and payment forms is available. The guarantee limits for multiemployer plans are not indexed and have not changed.  MORE >>

Pension Benefit Guaranty Corporation [PBGC]


97% of ASC Clients Recommend ASC Systems! Find out why at ASPPA Annual

Learn how you can run your business more efficiently with ASC products & services backed by an ERISA-credentialed Support Team. To see a demo at ASPPA, contact us at or just stop by our booth. Plus, enter to win great prizes!

Sponsored by ASC

[Guidance Overview]

SECURE 2.0 Provides Simplified Disclosure Rules for DC Plans

"SECURE 2.0 has provided new options for plan sponsors when distributing notices to plan participants.... Effective for plan years beginning after December 31, 2022, plan sponsors of defined contribution plans now have the option to forgo providing notices to those eligible but not participating and with no account balance, providing [certain] conditions are met."  MORE >>

Watkins Ross

Best Practices to Successfully Mitigate Retirement Plan Fee Litigation Risk (PDF)

"It's not enough to just have the right insurance coverage. Organizations need to institute the right internal governance processes to manage their Fiduciary liabilities.... [1] Prepare proactively ... [2] Gather and document comprehensive records ... [3] Benchmark fees & monitor performance ... [4] Review fiduciary training regularly."  MORE >>


DOL Says Brokerage Windows Are Not Subject of Increased Investigative Efforts

"The [DOL] has denied that it planned to increase investigative efforts targeted at brokerage windows following the release last year of a compliance assistance bulletin [which implied] that investigations would extend to plans that offer cryptocurrency through a brokerage window."  MORE >>

American Retirement Association [ARA]

Treatment of Forfeitures in DC Plans: Regulation and Litigation

"Despite near-universal practice and IRS guidance allowing forfeitures to reduce employer contributions, lawsuits filed in California allege this violates ERISA fiduciary duties.... It's hard to take a case like this seriously, given that its theory of the law is at odds with both a nearly universal practice and the IRS's regulatory position.... [P]laintiff's claims are made under ERISA, not under the Tax Code, and it is conceivable (although unlikely) that a court might hold that a practice permissible under a qualified plan for purposes of tax qualification might nevertheless be illegal under ERISA." [Dimou v. Thermo Fisher Scientific, No. 23-1732 (S.D. Calif. complaint filed Sep. 19, 2023); Rodriguez v. Intuit, Inc., No. 23-5053 (N.D. Calif. complaint filed Oct. 2, 2023)]  MORE >>

October Three Consulting

Public Pension Funding Index, October 2023

"A second consecutive month of declines in financial markets during September 2023 lowered the estimated funded status of the 100 largest U.S. public pension plans from 75.3% as of August 31, 2023, to 73.2% as of September 30, 2023[.]"  MORE >>



American Academy of Actuaries Comment Letter to PBGC on Proposed Regs for Valuation Assumptions and Methods (PDF)

"The proposed methodology [for measuring pension liabilities for single employer plans] represents a significant improvement over the current methodology ... The Committees believe that the use of the prior month-end pricing basis for valuation dates during the following month is reasonable ... The Committees agree that a simplified expense assumption is a good idea but would note that the expense level implied by deferred annuity contracts is typically higher than for immediate contracts."  MORE >>

American Academy of Actuaries

Employee Benefits Jobs

View job as Retirement Plan Administrator
            for CMC Pension Professionals

Retirement Plan Administrator

CMC Pension Professionals


View job as Retirement Plan Administrator for CMC Pension Professionals

View job as Defined Benefit Consultant
            for AimPoint Pension Group

Defined Benefit Consultant

AimPoint Pension Group


View job as Defined Benefit Consultant for AimPoint Pension Group

View job as Defined Benefit Software Support Specialist / Senior Actuarial Analyst
            for ASC - Actuarial Systems Corporation

Defined Benefit Software Support Specialist / Senior Actuarial Analyst

ASC - Actuarial Systems Corporation

Remote / Sylmar CA

View job as Defined Benefit Software Support Specialist / Senior Actuarial Analyst for ASC - Actuarial Systems Corporation

View job as Retirement Plan Administration Associate
            for Vestwell

Retirement Plan Administration Associate


Remote / New York NY / Hybrid

View job as Retirement Plan Administration Associate for Vestwell

View job as Senior Retirement Plan Administrator
            for RetireWell Administrators, Inc.

Senior Retirement Plan Administrator

RetireWell Administrators, Inc.

Remote / Marlton NJ

View job as Senior Retirement Plan Administrator for RetireWell Administrators, Inc.

View job as 401K Retirement Plan Administrator
            for ERISA Services, Inc.

401K Retirement Plan Administrator

ERISA Services, Inc.


View job as 401K Retirement Plan Administrator for ERISA Services, Inc.

Selected New Discussions

Authorization to Sign Form 5500 On Client's Behalf

"If a client wanted to give our firm the authority to sign the Form 5500 on their behalf (I guess signing it under my ID), what do they need to sign to authorize that? Would our firm just be listed as the Plan Administrator on the Form 5500-SF? We've always had the client sign themselves, but for some reason one client doesn't want to do it and would rather have us sign."

BenefitsLink Message Boards

One-Time Partial Payout Offered to Terminated ESOP Participant

"I left my former company a few years ago and, unfortunately, the ESOP plan has been losing value every year since. I did take a distribution when I turned 55 last year and, in a few years, I'll be able to start collecting payments every year (20%/year for five years). I just received a letter stating that the ESOP plan was recently amended to allow for a one-time offer to terminated/vested employees (which I am) to receive a distribution from the plan. The amount they are offering is roughly 40% of the amount I have left in the plan (which is all in stock). I've reached out to other people who have left this company and they've also received the same letter (with the flat rate same amount). Since the plan has been going down ever since I've left (probably down about 25-30%) I'm very tempted to take this offer (I have until mid-November to decide) but I'm curious as to why it would be offered in the first place. I know that there are no more shares to allocated to new employees so this could be a way to buy back shares for them. Would it also be advantages for the company to buy back shares in they were looking to sell it? Curious to see what other people think and what they would do in this situation."

BenefitsLink Message Boards

Press Releases

EPIC Survey: Employee Wellness Programs Face Crossroads with GLP-1 Weight Loss Drugs


Congruent Solutions Chooses Catalincs Partners to Accelerate Growth and Enhance Value to Stakeholders


RISA Releases Retirement Income Research Focused on Individual Retirement Income Preferences

RISA [Retirement Income Style Awareness]

Voya Launches New 'Advisor Dashboard' to Enhance Digital Retirement Plan Onboarding Experience

Voya Financial

Webcasts and Conferences
(Retirement Plans / Executive Compensation)

How To Avoid Form 5500 Penalties via DFVC Program



Back to the Basics: Defined Benefit Pension Plans

November 9, 2023 WEBINAR


Fundamentals of Qualified Plans

November 28, 2023 WEBINAR

FIS Retirement Education

ESOP Litigation: Recent Cases, Legal Theories, Prohibited Transactions, Disputes Involving Service Providers

November 29, 2023 WEBINAR


Navigating Murky Waters: Ethics for ERISA and Executive Compensation Lawyers

December 14, 2023 WEBINAR

American Bar Association Joint Committee on Employee Benefits [JCEB]

Last Issue's Most Popular Items

A Guide to 408(b)(2) Fee Disclosures


2023 Guide to 404(a)(5) Participant Fee Disclosures


Considerations for Design and Operation of Deferred Compensation Plans for Executives of Tax Exempt Organizations, Part 2 (PDF)

Trucker Huss

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

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