Senior Pension Administrator
Aldrich Solutions LP
in OR, WA

Pension Plan Administrator
The Kenneth D. Anderson Company, Inc.
in MA

Account Manager
The Standard
in CA

Health Care Manager
Washington Fire Commissioners Association
in WA

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New 403(b) Plan Documents Part II: Don?t Even Think About Removing My Appendix!
March 28, 2018 WEBCAST
National Tax-Deferred Savings Association [NTSA]

Getting It Right - Know Your Fiduciary Responsibilities
April 11, 2018 in LA
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

A Closer Walk - with Church Plans
September 27, 2018 WEBCAST
ASPPA [American Society of Pension Professionals & Actuaries]

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New Topics on the BenefitsLink Message Boards

New Comments and Topics

All Topics , Grouped by Forum

Congressional Budget Deal Resurrects and Adds Tax Law Changes for Retirement Plans
"Plans must be amended to comply with the new California wildfire disaster-related rules by the last day of the first plan year beginning on or after January 1, 2019.... [P]lan sponsors that wish ... to eliminate their plans' requirements for first obtaining all nontaxable loans available under the plan before taking a hardship distribution and for imposing a six-month suspension of participant contributions following a hardship distribution will need to amend their plans."
Nixon Peabody LLP

P&I DC East Conference | Miami | March 18-20

Join leading executives who manage 401(k), 403(b), 457 and TSP plans at DC East. You'll learn how other plan sponsors analyze, develop, implement and measure programs for their participants, so you can improve your own plan.

GAO Report on Workplace Retirement Accounts: Better Guidance and Information Could Help Plan Participants at Home and Abroad Manage Their Retirement Savings
"This report examines key challenges U.S. participants face with: [1] unclaimed retirement accounts in the United States, and [2] complying with U.S. tax reporting requirements on their foreign retirement savings.... GAO recommends Congress consider addressing taxation issues affecting the transfer of retirement assets between plans within the same foreign country. GAO is making seven recommendations, including that DOL issue guidance to help ongoing plan sponsors search for separated participants, and that IRS issue guidance to clarify how U.S. individuals should report foreign retirement savings to the IRS. The agencies generally agreed with GAO's recommendations. IRS disagreed with two of GAO's recommendations." [GAO-18-19, published Jan. 31, 2018, released Mar. 5, 2018]
U.S. Government Accountability Office [GAO]

Lifetouch Directors Sued Over Company Stock in Retirement Plan
"The company stock held in Lifetouch's ESOP declined by more than $840 million between 2015 and 2018, representing an average loss of more than $22,000 in retirement savings for each of the plan's 16,000 investors, according to the lawsuit. This decline happened while several Lifetouch executives retired and cashed out their stock at favorable prices, the lawsuit claims."
Bloomberg BNA

How Low Can 401(k) Advisory Fees Go?
"During 2016, adviser fees declined 12.5% for plans with $50 million to $400 million in assets ... DC plan advisers covering plans under $25 million [saw a] 1% increase; advisers to plans under $5 million experienced a 4.7% increase.... With increased regulatory scrutiny on fees and more litigation, plan sponsors will continue to be more, not less, price-sensitive.... [As] margins get thinner upmarket, consultants and elite advisers will migrate down-market, bringing more competitively priced fiduciary services with them."
InvestmentNews

The Value of Plan-Specific Substitute Mortality Tables
"Using substitute mortality tables should theoretically improve the fit between expected and actual mortality rates, thereby producing smaller experience gains and losses over time. In addition, for plans employing a workforce that exhibits heavier mortality than the standard tables, using substitute mortality tables could potentially lower both minimum required contributions and PBGC variable-rate premiums."
Milliman Retirement Town Hall

Spotlighting Self-Directed IRAs

Retirement Industry Trust Association (RITA) -- the voice of the Self-Directed IRA Industry -- conference in DC, March 26-28. Get the latest regulatory and legislative updates from experts and newsmakers vital to the industry. Learn more and sign-up

457(b) vs. 401(k): Key Differences
"Eligibility for a 457(b) nongovernmental plan differs from that of a governmental plan.... Much lower combined contribution limits for the 457(b) ... 401(k) employee contribution limits are higher for employees 50 and older.... No rollover for nongovernmental 457(b) plans ... No penalty for withdrawals prior to 59-1/2.... The criteria for hardship withdrawals under either type of 457(b) are far more restrictive ... 457(b) nongovernmental assets are exposed to insolvency risk ... 457(b) distribution rules can be particularly confusing[.]"
ForUsAll

Auto Enroll and Opt-In Plans Need Different Efforts to Get Participants Engaged
"[F]ocusing on financial literacy and understanding of exponential growth is likely to be fruitful for getting [DC] plan participants in an opt-in plan, while efforts targeted at procrastination tendencies are likely to be particularly important in automatic enrollment plans."
planadviser

Americans Saving Nearly 8% for Retirement
"Asked what they would do if they were given $5,000, respondents were most likely to say, put it into their savings account (63%), followed by pay bills (55%) and put it towards their retirement (23%)."
PLANSPONSOR

Developing a Sustainable Spending Plan vs. Using a Systematic Withdrawal Plan
"A [Systematic Withdrawal Plan (SWP)] isn't coordinated with the amount or timing of income the retiree (or retired couple) may have from other sources (IFOS).... [A]dding the SWP withdrawal to the IFOS for the year may be consistent with the individual's spending goals.... [T]he SWP only focuses on recurring spending needs and does not consider non-recurring spending needs the retiree may have, such as unexpected expenses, long-term care costs or specific bequest motives."
Ken Steiner, FSA Retired

How to Cope with Stock Market Declines in Retirement
"Shift to more conservative investments.... Create a cash reserve.... Avoid emotional investment decisions.... Continue to invest."
U.S. News & World Report

Fifth Circuit Changes Standard of Review of Health Plan Administrator Factual Findings
"Since 1991, the Fifth Circuit Court of Appeals ... [has required courts] to show deference to the factual findings of a benefit plan administrator, regardless of whether the benefit plan conferred such authority on the administrator.... The other circuits only show deference to the factual findings of plan administrators if the benefit plan specifically provides for such deference.... [A]fter more than three years of litigation, the majority of the Fifth Circuit panel agreed to overrule its decision[.]" [ Ariana M. v. Humana Health Plan of Texas, Inc. , No. 16-20174 (5th Cir. Mar. 1, 2018)]
Your ERISA Watch

It's Probably Time to Re-Bid Your Benefits Contracts
"[M]ake sure the organization is able to negotiate a competitive contract for the services it needs. Know what you want and need ... and what you don't.... Don't let size limit options.... Get it in writing.... Leverage internal resources."
Society for Human Resource Management [SHRM]

Section 162(m) Changes Require Some Planning
"What new processes will be required to determine and track covered employees? ... What changes in compensation practices can be made? ... Should the design of compensation plans be modified? ... ? Are you now a 'public company' subject to 162(m)? ... Don't let the 'tax tail wag the dog.' "
Wilkins Finston Friedman Law Group LLP

Distribution of Safe Harbor Matching Contributions
Is safe harbor match money eligible for an age 59-1/2 in-service distribution?
BenefitsLink Message Boards

Eligibility Isn't a Protected Benefit?
Plan has a 3-months of service requirement and month entry dates. Rhoda was hired on February 15 and would enter the plan on 6/1. However, in September that year, the employer amends the plan to require 1 Year of Service (with semi-annual entry dates), and does not specifically exempt those already in the plan. Rhoda is no longer an eligible and active participant in the plan until 7/1 the next year, correct?
BenefitsLink Message Boards

Safe Harbor Contribution Must Be Made for Employee Terminated in Prior Year?
Company adopted 401(k) plan with Safe Harbor effective 1/1/2018. An employee terminated in late December 2017. Her final paycheck was paid on 1/7/2018. Does the company need to make a 3% contribution on this final pay because it was paid in 2018?
BenefitsLink Message Boards

Taking Back a Discretionary Matching Contribution?
Company has a discretionary match provision chosen in the plan document. Company chooses to fund the matching contributions pay-date by pay-date. Let's say at the end of the year, the company decides it doesn't want to fund the discretionary match. Can the company take away the matching contribution from the people whose accounts were funded?
BenefitsLink Message Boards

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Health Plans Pass Tax Reform Savings on to Consumers America's Health Insurance Plans [AHIP]

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