"With this rule, the DOL proposes a regulatory safe harbor from which the acts of plan fiduciaries of defined contribution plans will be given the presumption of prudence.... [N]early 45,000 comments were filed, with some comments providing substantive suggestions to improve the implementation of the rule and other comments objecting to the rule because of concern that it will encourage the inclusion of risky, complex, and higher cost investment options, and result in less protection for Americans' retirement savings. It remains to be seen how the DOL will respond[.]"  MORE >>

Topics include: [1] Important terminology for reference on key topics; [2]  Stock purchase plan options and amendments; [3]  Asset purchase plan options and amendments; [4] CG/ASG transition period for coverage testing under IRC 410(b)(6)(C); [5] Comparing and unifying plan designs.  MORE >>

"While many investors assume they can move IRA assets as often as they wish, the rules depend on the method used. For example, an IRA-to-IRA rollover may be done only once during a 12-month period, while transfers are not subject to that limitation. If you are planning to move your IRA, understanding the difference between a transfer and a rollover is key to avoiding costly mistakes."  MORE >>

"In the current environment, the focus for many plan sponsors is on the considerations and implications related to guaranteed lifetime income because this is still new territory for them, and many also will want to consider at least one other non-guaranteed option for their plan lineups. At a high level, the [steps] explained in [this article] can help identify the plan's specific goals and needs and guide the design of an effective program[.]"  MORE >>

"The June 10 draft proposes amending the Accounting Standards Codification to require that firms value the cost of benefits offered as market-based cash balance plans ... by setting the discount rate equal to the assumed interest crediting rate.... Almost 60% of all DB plans in the U.S. are now cash balance plans, ... In 2018, only about 10% of cash balance plans used a market-based crediting rate, but that figure now sits around 60%."  MORE >>

"A new retirement saving option for teachers participating in the Bay State's teacher retirement system is closer to being available, courtesy of legislation that has passed both chambers of the Massachusetts legislature."  MORE >>

"Advisors with clients who receive federal benefits must become experts in pension rules, service credit calculations, and benefit elections to serve as a valuable resource during both the planning and retirement phases."  MORE >>