Plan Administrator-DC Specialist
AimPoint Pension
in FL, Telecommute

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Executive Compensation in ESOP Companies
December 18, 2018 WEBCAST
National Center for Employee Ownership [NCEO]

ERISA Fiduciary Investment Basics 2019
March 18, 2019 WEBCAST
Practising Law Institute

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401(k) Match on Student Loan Repayments: Godsend or Mixed Blessing? (PDF)

"[B]ecause this specific fact pattern had a 'regular' and [student loan repayment (SLR)] match that was subject to nondiscrimination testing, it is unclear if a matching safe harbor design would have passed the same muster with the IRS.... [And] there are the nondiscrimination issues to contemplate. Both the regular and SLR nonelective contributions are subject to 401(m), or ACP testing." Kushner & Company

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Eighth Circuit: Retirement Assets Acquired in Divorce Not Protected in Bankruptcy

"[A] bankruptcy court had initially ruled that the 401(k) and IRA assets acquired in a civil court-approved divorce settlement were not exempt from the alternate payee's (recipient's) bankruptcy estate. Lerbakken appealed, and the three-judge appellate panel affirmed the bankruptcy court's ruling that these assets must be included in the Lerbakken bankruptcy estate; thus accessible to creditors." In re Lerbakken , No. 18-6018 (B.A.P. 8th Cir. Oct. 16, 2018)]
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What to Look for in an Annuity Search Firm

"Compare the size of the annuity search firm in relation to the size of the annuity placement.... Ensure honesty and transparency.... Request a comprehensive list of services.... Seek clarity on the timeline.... Gain a firm understanding of the quoted fee structure.... [R]eview sample documents for their efficacy, including copies of: Plan specifications; Financial due diligence on insurance companies; Engagement letter; [and] Timelines." October Three Consulting

SEC Commissioner Calls for Simpler Ways to Compare Investments

"[Commissioner Kay Stein] proposed the idea of creating a digital app that teaches kids and adults how to invest.... Noting that 'education will only get us so far,' Stein further said the [SEC] 'must ensure that investors have the information and tools they need to make good decisions.' ... 'Investors should be able to look at the first page or two of a prospectus and understand how much they will pay in fees, and to whom,' Stein said." PLANSPONSOR

Broker-Dealers as Fiduciaries After the DOL Rule Vacatur (PDF)

14 pages. "[T]his article [explains] a broker-dealer's obligations when it provides recommendations to accounts subject to ERISA and the Code post-vacatur ... [It also considers] where broker-dealer activities may be headed in light of the SEC's proposed Regulation Best Interest and compare[s] that to what is required under ERISA and the Code. Many broker-dealers, particularly if they provide investment advice, will find complying with an SEC 'best interest' standard and the fiduciary and prohibited transactions of ERISA and the Code quite challenging." Groom Law Group, via The Investment Lawyer

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Do 401(k) Plans Need the High Fees, Complexity of Liquid Alts?

"At a time when defined contribution plan sponsors can't switch fast enough into low-fee index funds, the Washington State Investment Board is going in the other direction. They are pushing to incorporate private equity and other alternatives into its DC investment options. For Washington State the initiative is about providing better performance to DC participants as well as responding to changes in the markets, including the decline in the number of publicly listed companies that are available to investors." Institutional Investor

Financial Fitness Over 50

"[M]any Americans over 50 are financially unwell. They are ... squeezed on one side by obligations to their kids and on the other by the need to support aging parents.... Providing financial knowledge and advice is often the first and easiest step.... Ensuring workers have staples like wills and insurance policies can be low-hanging fruit that makes a difference.... [M]any older employees have not fully calculated their future healthcare costs.... They also need to understand how to strike the right balance between aggressive and conservative investments." CapTrust

An Enjoyable Mini-Retirement Requires Serious Planning

"Mini retirements are a series of intentional breaks in your career, leaving an employer or industry for a time before reentering the workforce at a later date. A solid budget -- including housing costs, utilities, food, transportation, insurance and debt service -- is a must, as debt can put a damper on mini-retirement goals. The real challenge is saving enough, in addition to long-term retirement savings, to pay for a mini retirement. This can take years of dedication and discipline." CNBC

California Public Employees Vote Against CalPERS Investment Activism

"The California Public Employees' Retirement System this month said no thank you to pension-fund activism. Government workers unseated Priya Mathur, the sitting CalPERS president. She was defeated by Jason Perez, a police-union official who criticized Ms. Mathur's focus on environmental, social and governance investing, or ESG. Mr. Perez emphasizes the agency's fiduciary duty to maximize investor returns." Paul S. Atkins in The Wall Street Journal; subscription may be required

Online Calculator Shows State of U.S. Public Pension Plans

"[The] calculator ... aggregates the data from each state's Comprehensive Annual Financial Report to display ... information that allows taxpayers, pensioners, and policymakers to see the impact of changing the core assumptions, even by just 1%.... As you lower the assumed rate of return, you will increase the level of unfunded liabilities. Users can watch as the bar graph skyrockets as the module moves closer and closer to 2%." Institute for Pension Fund Integrity

Tax-Exempt Organization Has a 403(b) Plan but PEO Wants It Terminated

501(c) organization maintains an ERISA 403(b) plan (deferrals plus employer contributions). It's considering a move to a PEO, which sponsors a 401(k) plan. The PEO is recommending the termination/freezing of the 403(b), and the adoption of their 401(k). But nothing prevents the organization from continuing to sponsor a 403(b), correct? And it's not required by law to adopt the PEO's plan, correct? BenefitsLink Message Boards

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Press Releases

OneDigital Health and Benefits Acquires Nashville Based Paradigm Group OneDigital Health and Benefits

HUB International Names Rob Petree as Senior Vice President, Employee Benefits in Sacramento HUB International

Carroll Consultants Merges With Cafaro Greenleaf Cafaro Greenleaf

USI Consulting Group Hires Bill Tracy as VP, Retirement Services USI

ABG Announces Finalists for 2018 Plan Sponsor of the Year Awards Alliance Benefit Group

Announcing the 2019 Ellen A. (Nell) Hennessy Employee Benefits Moot Court Competition: Registration Deadline is Nov. 9 American College of Employee Benefits Counsel

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Text of DOL Regulatory Agenda, Fall 2018 U.S. Department of Labor [DOL]

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