Compliance QA Software Tester
ftwilliam.com, Wolters Kluwer
in WI, Telecommute

?See 132 Jobs

?Post a Job

Emerging Best Practices in Benefits Communication
June 20, 2018 in MO
Worldwide Employee Benefits Network [WEB] - St. Louis Chapter

3(16) Services: Should I or Shouldn't I?
October 3, 2018 WEBCAST
ASPPA [American Society of Pension Professionals & Actuaries]

Hot Issues in Executive Compensation 2018
September 21, 2018 WEBCAST
Practising Law Institute

?See 141 Upcoming Webcasts and Conferences

?See 1383 Recorded Webcasts

New Topics on the BenefitsLink Message Boards

New Comments and Topics

All Topics , Grouped by Forum

Applications for Pre-Approved DC Plan Opinion Letters: Third 6-Year Remedial Cycle

"The IRS is accepting applications for opinion letters for pre-approved Defined Contribution (DC) plans for the third six-year remedial amendment cycle. For the IRS to consider the third cycle's application, the pre-approved DC plan provider must verify compliance with the second cycle's requirements by: [1] Stating that an opinion or advisory letter wasn't requested for the DC preapproved plan for a prior cycle or at any prior time; [2] Attaching the plan's most recent opinion or advisory letter for the second six-year remedial amendment cycle; or [3] Including a satisfactory explanation of why an opinion or advisory letter wasn't requested during the second six-year remedial amendment cycle and how the second cycle's qualification requirements were timely satisfied by employers who adopted the plan." Internal Revenue Service [IRS]

Deadline June 11 -- Benefit Communication and Technology Institute

Learn the latest about communicating to your plan participants, how to listen to steak holders, ways to interpret the data you have and how to use technology to explain your employee benefit plan. Register by June 11 and save $300 .

Interesting Angles on the DOL's Fiduciary Rule, Part 91

"In addition to the standard of care, [SEC] Reg BI also has enhanced protections for conflicts of interest.... While the SEC guidance refers to 'financial incentives' and the DOL refers to 'compensation,' the outcome is much the same.... If the SEC's Reg BI is finalized in its current form, broker-dealers will need to implement those policies or adopt other practices that are reasonably designed to mitigate the impact of material conflicts of interest arising from financial incentives associated with investment recommendations." FredReish.com

Fifth Circuit Denies States' Second Attempt to Defend DOL Fiduciary Rule

"As it did in its May 2 decision, the three-judge panel split, 2-1, in deciding not to take another look at the states' motion. The three judges also ruled unanimously [on May 22] to deny the states' alternative motion to permit a rehearing of their effort to intervene by the full 17 judges of the 5th Circuit." [Chamber of Commerce v. U.S., No. 17-10238 (5th Cir., motion for rehearing denied May 22, 2018)]
Pensions & Investments

Why 'Fiduciary' Was Left Out of the SEC Proposal

"While the proposed rule is a 'fiduciary principle,' the commission refrained from using the term to make it easier for investors to understand the differences between brokers-dealers and advisors [says SEC Chairman Jay Clayton]. Brokers and advisors have different 'relationship models' with clients and are held to slightly different standards ... As it stands now, brokers would create a fiduciary relationship with clients when suggesting investment vehicles, while an advisor's duty extends to all aspects of the relationship, says Brett Redfearn, director of the SEC's trading and markets division." Financial Planning

GAO Report: Retirement Plan Investing -- Clearer Information on Consideration of Environmental Social and Governance Factors Would Be Helpful

"GAO examined: [1] the use of ESG factors by U.S. retirement plans, [2] the use of ESG factors by selected retirement plans in other countries, and [3] DOL's guidance on the use of ESG factors by private sector U.S. retirement plans.... GAO is making two recommendations to DOL, including that DOL clarify whether the liability protection offered to qualifying default investment options allows use of ESG factors." [GAO-18-398, May 22, 2018] U.S. Government Accountability Office [GAO]

2018 SPARK National Conference -- June 14-15, National Harbor, MD

The retirement services industry's leading event for top marketing, sales, administration and record keeping professionals. Comprehensive agenda is designed to meet the needs of 401(k) Plan Providers, Financial Advisors and Record Keepers.

Can You Invest Your Way to DB Plan Termination?

"All sponsors of frozen plans knew that liabilities would increase even though benefit accruals were fixed. This would be due to simple aging of the participant population -- generally, very manageable. Combined with this historic investment performance over the past ten years, there was an expectation the funding deficits would return to pre-2008 levels. What was not anticipated was the corresponding increase in 'carrying costs' and an extremely low interest rate environment.... The single biggest cost increase of those listed has been PBGC premiums." Strategic Benefit Services

The Complete Guide to 401(k) Corrective Distributions

"Why corrective distributions are necessary ... How to make corrective distributions ... Corrective distribution deadlines and penalties ... Fixing a failed nondiscrimination test without corrective distributions ... Safe harbor: avoid corrective distributions with this plan design ... Affordable ways to avoid making corrective distributions." ForUsAll

Joint Select Committee on Multiemployer Pensions Meets Again in Educational Session on the PBGC (PDF)

"[PBGC Director Thomas Reeder] noted that if Congress does nothing and the PBGC's multiemployer insurance system becomes insolvent, it would be able to provide only about one-eighth or 12.5% of the already low benefit that it guarantees to pay.... Co-Chair Brown announced that the Select Committee would hold two more hearing in June and two more in July and hopes that serious negotiating on a legislative solution would begin this coming July." United Actuarial Services, Inc.

Unique ESOP Structure Considerations (PDF)

24 presentation slides. Topics: [1] Review development of transaction goals; [2] Summary of regulatory/litigation environment; [3] Financial structuring alternatives; [4] Post-transaction price adjustments; [5] Designing incentive arrangements; [6] Transaction provisions/considerations. McDermott Will & Emery, Chartwell Financial Advisory, and GreatBanc Trust Company

Report on the Economic Well-Being of U.S. Households in 2017 (PDF)

66 pages, May 2018. "Less than two-fifths of non-retired adults think that their retirement savings are on track, and one-fourth have no retirement savings or pension whatsoever. Three-fifths of non-retirees with self-directed retirement savings accounts, such as a 401(k) or IRA, have little or no comfort in managing their investments." Federal Reserve Board of Governors

Labor Force Participation Rates, and Composition of the Adult Population, by Age and Gender (PDF)

22 pages. "For Americans ages 55 or older, the [labor force participation (LFP)] rate increased from 1991 to 2012 ... The oldest Americans (ages 65 or older) had the largest percentage increases in LFP rates since 1991 ... For those ages 25-54, LFP rates have been steady to slightly declining since 1991.... [T]he increase in the share of individuals ages 55 or older in the population and in the labor force means that employers have been, and will continue to be, challenged to provide benefits that meet the needs of these older workers, while still meeting the needs of younger workers[.]" Employee Benefit Research Institute [EBRI]

Can the Plan Pay for That?

"ERISA tells us that a benefit plan may use plan assets only to pay reasonable administrative expenses. That raises some questions: What is reasonable? Who decides what is reasonable? What are administrative expenses? What are not?" Warner Norcross & Judd LLP

Excluding Contributions for Participants Who 'Retire' But Continue Working Part-Time

I have a law firm's 401k plan. Participants are starting to retire. The ownership group would like to NOT give the safe harbor and profit sharing to the retirees. The retirees will be doing some work, just not a lot of work, and they'll be paid by the law firm as employees in normal fashion. I suggested considering the retirees to be 1099 employees, but the employer is not comfortable with that. Any ideas? Can the plan exclude the retirees the plan year after "retiring"? I hate to use the word termination because they are not terminated; they'll simply work way far fewer hours than they work now. I don't think the plan could exclude by name, but maybe I'm wrong. Or would a class exclusion work? BenefitsLink Message Boards

Basic Safe Harbor Match, Dual Eligibility; Different Eligibility Requirements Allowed?

I have a plan that currently has a basic safe harbor match. Deferrals and SH have same eligibility of age 21 & 1 year w/1000 hours. They want to change deferral eligibility to immediate upon date of hire, but leave the SHM eligibility as is. Is this allowed? If so, can this be changed mid-year or must it be effective 1/1/2019? BenefitsLink Message Boards

? Subscribe to the BenefitsLink Message Boards Digest — a free daily email of all new discussions (not just the selected few shown above). View a sample issue .

Press Releases

Anthem, Inc. to Acquire Aspire Health Anthem, Inc.

View All Press Releases