Pension Administrator - Retirement Plans
Steidle Pension Solutions, LLC
in NJ, PA

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Optimatum Solutions
in NY

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The Retirement Plan Company
in OR

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Withdrawal Liability Discount Rates: Two Courts, Two Different Views

"In reviewing the economics of a multi-employer plan withdrawal, an employer will want to consider the plan's withdrawal liability valuation policy. But it should be understood that there is (generally) nothing preventing the plan from changing that policy. Even though there are a number of procedural rules applicable to the review of a plan's determination of withdrawal liability that favor the plan, the result in [one recent case] is evidence that an employer can win a withdrawal liability dispute." [ The New York Times Co. v. Newspapers & Mail Deliverers'-Publishers' Pension Fund , No. 17-6178 (S.D.N.Y. Mar. 26, 2018)]
October Three Consulting

Now is a great time to join Worldwide Employee Benefits Network (WEB)

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Senate Proposal Could Reduce ERISA Protections for Participants in Small Employer Plans

"[Under S.3219 , introduced July 17 by Sen. Tom Cotton (R-AR)], employers that have 100 or fewer employees who earned at least $5,000 during the preceding year and that participate in a pooled employer plan (PEP) registered with the [DOL] would not be considered a fiduciary to that plan -- including with respect to the selection and monitoring of any plan service provider or any investment under the plan. That's right -- no fiduciary responsibility."
National Association of Plan Advisors [NAPA]

DOL Focusing on Guidance for Locating Missing Participants

"[DOL] is working on guidance for employers who have lost contact with retirement plan participants, head of [EBSA] Preston Rutledge said today in a rare public appearance. The announcement comes after the business community and the [GAO] called for the DOL to release specific guidelines they need to follow to ensure they're in compliance when contacting plan participants." Bloomberg BNA

TIAA Shakes Up the Plan Sponsor Digital Space with New Mobile App

"There are currently only three firms (20%) in the RPM-I coverage set that have responded to the consumer desire for mobile accessibility by providing responsive sites. TIAA instead launched a native mobile app.... TIAA developed the app with functionality in mind, prioritizing specific uses that sponsors would most likely want access to on the go. The firm also sought to leverage mobile technology that makes for secure and user-friendly experiences, including biometric login and push notifications." Corporate Insight

So, How Much Does It Take to 'FIRE'?

"Most of the 'how much is enough' discussion focuses on whether you should have 25 times annual expected expenses in retirement (based loosely on the 4% Rule) or more in order to [reach Financial Independence/Retire Early (FIRE)]. This post will approach the how much is enough question from an actuarial perspective ... While everyone's financial goals and personal situation are different, and it can be dangerous to generalize, ... the 25 times annual expected expenses rule of thumb may not be all that bad for someone who wants to retire prior to age 50." Ken Steiner, FSA Retired

Text of SEC Concept Release and Request for Comment on Compensatory Securities Offerings and Sales (PDF)

"Since Rule 701 and Form S-8 were last amended, forms of equity compensation have continued to evolve and new types of contractual relationships between companies and the individuals who work for them have emerged. In light of these developments ... we believe this is an appropriate time to revisit the Commission's regulatory regime for compensatory securities transactions. We therefore solicit comment on possible ways to update the requirements of Rule 701 and Form S-8, consistent with investor protection. We also solicit comment on what effects any revised rule or form may have on a company's decision to become a reporting company." U.S. Securities and Exchange Commission [SEC]

SEC Solicits Comment on Modernizing Rules Related to Compensatory Securities Offerings and Sales

"The Concept Release solicits comments on questions relating to: [1] 'Gig economy' relationships, or new types of contractual relationships between companies and individuals involving alternative work arrangements, to better understand how they work and determine what attributes of these relationships potentially may provide a basis for extending eligibility for the Rule 701 exemption. [2] Whether the SEC should further revise the disclosure content and timing requirements of Rule 701(e). [3] Whether the use of Form S-8 to register the offering of securities pursuant to employee benefit plans should be further streamlined."
Thomson Reuters Practical Law

Executive Retirement Vehicle Seen as a Potential Gamble for Employers (PDF)

Qualifed supplemental executive retirement plans (Q-SERPs) can help some public companies looking to mitigate their losses following the changes to section 162(m) in the Tax Cuts and Jobs Act... However, [some] have criticized Q-SERPs ... by indicating that the vehicles exploit loopholes in the nondiscrimination regulations and have been targeted by the IRS in the past."
Employee Benefit Plan Review

Mid-Year Addition of Service Requirement for Safe Harbor Match

Client has a safe harbor plan that states an employee is eligible for safe harbor match as of the entry date following completion of first hour of service. Under Section III .D.2. of IRS Notice 2016-16, can the plan be amended PROSPECTIVELY mid-year to require NEW employees to complete a year of service before becoming eligible for the safe harbor match? I believe the guidance allows it, but I wonder whether anyone has done this. Would the employer need to provide a new safe notice to existing participants?
BenefitsLink Message Boards

Participant Loan OK from a Rollover Account?

Participant has an account in a money purchase pension plan and an account with a 401(k) plan. Participant meets the requirements for a lump sum distribution from the MPPP. He takes the lump sum, and then timely rolls it over into his 401(k). The 401(k) permits loans to participants. Can the participant use the amount rolled over into the 401(k) for a loan? BenefitsLink Message Boards

401(a)(26) Test in Year of Previously Frozen Plan's Termination

A plan was frozen in 2017; no accruals for that year. Am doing a 401(a)(26) test under average accruals to date as of 1/1/2017. Passes for 2017. The plan then was formally terminated in 2018 and assets were paid out. Does the plan need to pass 401(a)(26) for 2018? BenefitsLink Message Boards

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WindRose Health Investors, LLC Announces Recapitalization of basys, LLC WindRose Health Investors

Brian Murray Joins Employee Benefits and ERISA Litigation Team at Trucker Huss Trucker Huss

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