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Impact of the New Tax Act on Employee Benefit Plans and Compensation
RECORDED
Kaufman & Canoles, P.C.

Employee Surveys and Best Practices
February 21, 2018 in MO
Worldwide Employee Benefits Network [WEB] - St. Louis Chapter

Toxic Work Environment? Sexual Harassment? New Tax Laws? All Explained!
February 28, 2018 in VA
FisherBroyles, LLP

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New Topics on the BenefitsLink Message Boards

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What Is 'Reasonable' Compensation for a Broker-Dealer or Advisor?
"The reasonable compensation requirement ... applies to service providers regardless of whether or not they are fiduciaries.... For compensation to be reasonable, it is not necessary to recommend a product that pays the least compensation. It is not necessary that compensation be below average. It just cannot rise to a level that is excessive in relation to the services and benefits provided.... [The] requirement applies to the compensation received by the broker-dealer and to the amount passed on by the firm to the advisor."
Drinker Biddle

Tools & Techniques of Employee Benefit and Retirement Planning

Practical analysis of the entire range of employee benefit planning. 15th Edition includes updated information on the new DOL fiduciary rule, Form 5500 filings, QSEHRAs and more. Use code BENLINK for 10% discount.

IRS Wants Hurricane Distributions Reported as Penalty Tax Exception on 2017 Forms 1099-R
"The IRS has recently updated its ... [website] regarding the reporting of retirement and IRA distributions to individuals affected by Hurricanes Harvey, Irma, or Maria. The note, dated January 2018, mandates the use of Code 2 on Form 1099-R to report such distributions made in 2017, known as 'qualified hurricane distributions' under the relief provided to victims by both the IRS and Congress."
Ascensus

Decision-Making Best Practices for 401(k) Plans
"Ensure you have a properly structured retirement plan committee ... Discuss the right stuff ... Company hats off, participant hats on ... Use a sound decision-making process ... Document your process."
Lawton Retirement Plan Consultants

Generation X 401(k) Savers Indicate Financial Peace of Mind as Major Financial Objective
"77 percent of Generation X retirement savers with 401(k)s view having financial peace of mind as a major financial objective, leading the 16 financial objectives scored in the survey.... 45 percent of [millennials (ages 18-35),] said their expected contribution rate is now higher than their contribution rate in the last 12 months. For Generation X (ages 36-51) and baby boomers (age 52 or older), 36 percent and 30 percent, respectively, said they expect to increase their 401(k) contributions in the coming months.... The majority of individuals determine their contribution rate based on their employer match, with 65 percent taking full advantage of the match."
T. Rowe Price

International Pension Plan Survey 2017
"[International pension plans] are offered by companies in over 20 business sectors, with high prevalence in Banking and Finance, Oil and Gas, and Industrials. Assets under Management for the funded plans ... are estimated to be up to $13 billion.... 58% have been established with a 'retirement objective', with 42% having more a shorter-term 'savings objective'.... The majority (62%) of plans have a global coverage, with the rest restricted to different regions."
Willis Towers Watson

Sign Up for a New, Free Daily Email: The 'Message Boards Digest'

Subscribe to the new, free Message Boards Digest, sent daily by email. You'll see all of the new topics on the BenefitsLink message boards. (Some topics are included in the BenefitsLink newsletters, but many are not.) View a recent, sample issue -- and sign up here .

FAS87 ASC715 Discount Rates and Moody's Rates, Updated January 2018
An unofficial monthly report, as of Jan. 31, 2018, of the Moody's Daily Long-term Corporate Bond Yield Averages and Moody's Daily Treasury Yield Averages (used as benchmarks by some corporate pension plans).
David Rigby, via BenefitsLink Message Boards

Should Increasing Your Investment Risk Increase Your Current Spending Budget?
"If future experience is more favorable than assumed in the budget calculations, future spending budgets determined under the Actuarial Approach will increase relative to current spending budgets. If future experience is less favorable than assumed, future spending budgets will decrease relative to current spending budgets."
Ken Steiner, FSA Retired

Why Insurance Companies and Wall Street Should Not Be Permitted to Redefine the Term 'Best Interests'
"Lobbyists for the insurance industry and much of the securities industry ... want to be able to say they are acting in the 'best interests' of their customers ... [by] simply redefining the term, 'best interests.' ... The [SEC] is said to be also considering a 'best interests' standard ... [This] comment letter to the NAIC [cautions] that any use of the term 'best interests' to describe a standard of conduct should be reserved for the bona fide fiduciary standard."
Ron A. Rhoades, JD, CFP

Mortality Data Show Declining Longevity Improvements
"U.S. life expectancies declined in 2016. This is the second consecutive year of diminishing life expectancies, driven by declines in mortality improvement over the recent past.... Going forward, [the authors] believe it is appropriate to assume positive mortality improvement for the population for most ages.... Mortality improvement will be greatest at older ages, albeit at lower levels due to some of the slowdowns noted."
Willis Towers Watson

Financial Benefit Trends to Watch in 2018
"[1] More employers will add financial education benefits.... [2] Financial benefits will become more holistic.... [3] More student loan repayment benefits will become available.... [4] Increased attention will be given to helping employees with short-term financial issues.... [5] Employers will begin to look for ways to provide financial education to future generations."
Voya

Chasing After Health Savings Accounts?
"[B]efore you rush to urge your clients to offer HSAs, there are layered complexities to understand. Remember that an HSA must be paired with a high deductible health plan (HDHP). A plan advisor who doesn't already have a relationship with a health plan advisor should get very familiar with HSAs' quirks, of which there are many.... Employees who are on Medicare or Tricare cannot have an HSA.... Your clients with onsite health clinics must be careful when setting up HDHPs paired with HSAs."
Fisher Broyles, via National Association of Plan Advisors [NAPA]

Press Releases

DOL Assists in Pension Fund Theft Investigation That Nets Criminal Conviction Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Winston & Strawn Announces Washington, D.C. Leadership Enhancements Winston & Strawn

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