Senior Pension Administrator
Scholz & Friends Enlightened Retirement Group, Inc.
in TX

Health & Welfare Associate Attorney
Trucker Huss APC
in CA

Retirement Plan Administrator
Nicholas Pension Consultants
in CA

Senior Plan Document / Compliance Specialist
PCS, LLC
in PA

?See All Jobs

?Post a Job

Revenue Procedure 2018-52 - the New Electronic VCP Submission Process
RECORDED
IRS [Internal Revenue Service]

2018 In Review - A Legislative and Regulatory Update
January 14, 2019 WEBCAST
FIS Relius Education

Just for ERPAs Workshop
February 5, 2019 in FL
FIS Relius Education

Advanced Pension Conference
February 6, 2019 in FL
FIS Relius Education

Mid-Sized Retirement & Healthcare Plan Management Conference
March 24, 2019 in CA
University Conference Services

?See 83 Upcoming Webcasts and Conferences

?See 1461 Recorded Webcasts

New Topics on the BenefitsLink Message Boards

New Comments and Topics

All Topics , Grouped by Forum

Text of IRS Publication 939: General Rule for Pensions and Annuities (PDF)

83 pages, Rev. Dec. 2018. "Use this publication if you receive pension or annuity payments from: [1] A nonqualified plan (for example, a private annuity, a purchased commercial annuity, or a nonqualified employee plan); or [2] A qualified plan if: [a] Your annuity starting date is before November 19, 1996 (and after July 1, 1986), and you don't qualify to use, or didn't choose to use, the Simplified Method; or [b] Your annuity starting date is after November 18, 1996, and as of that date you are age 75 or over and the annuity payments are guaranteed for at least 5 years." Internal Revenue Service [IRS]

The Must-Attend Event for Those Working with Multiemployer Plans

Register by January 7 to save - Attend the Trustees and Administrators Institutes to receive timely and relevant education on the issues that face the benefits industry including the opioid crisis, cybersecurity, pharmacy benefits and mental health.

Some PBGC Coverage Determinations May Be Streamlined by Proposed Form

"[The proposed form ] ... may signal a more streamlined process for coverage determinations with respect to church plans, which have been the subject of substantial litigation over the past several years. Unfortunately, the proposed form does not address governmental plans, for which PBGC has generally ceased making coverage determinations pending further development of a 2011 IRS advance notice of proposed rulemaking ... Public comments on the proposed form must be submitted by February 4, 2019."
Groom Law Group

End of Year IRS Checklist for Retirement Plan Providers

"The IRS provides a list of the 'Top Ten Failures Found in Voluntary Correction Program' to alert businesses to common benefit plan tax problems, including ... [1] Review benefits plan for tax law changes.... [2] Review plan definition of compensation for determining contributions.... [3] Collecting loan repayments under IRC 72(p).... [4] Are the minimum age-based distributions being made? ... [5] Failure to pass the ADP/ACP nondiscrimination tests under IRC 401(k) and 401(m).... [6] Failure to properly provide the minimum top-heavy benefit or contribution under IRC 416 to non-key employees." Butterfield Schechter LLP

Best Interest and Best Practices, Part 11

"[W]hile there may be cases where non-diversified recommendations could be made, the starting point -- and the general rule -- is that a Best Interest advisor should recommend a balanced portfolio that is appropriate for the investor. It is fair to say that Best Interest advice mandates the use of a balanced portfolio, absent circumstances that would reasonably justify an exception." FredReish.com

Replacing SIMPLE IRAs with a 401(k): Frequently Asked Questions

"In general, a 401(k) plan is the better choice when higher contribution limits and/or plan design flexibility are needed. When they're not, a SIMPLE IRA can be an excellent cost-saving alternative. That said, it's not uncommon for employees (or prospective employees) to view SIMPLE IRAs as inferior to 401(k) plans. This feeling can sometimes be overcome with education, but employee perception is something to consider when choosing between a SIMPLE IRA and 401(k) plan." [Article includes helpful chart of "pros" and "cons" for each type of plan.] Employee Fiduciary

Join the Pension Rights Center's no-fee lawyer referral service!

Are you an experienced attorney who can handle issues involving private or government retirement plans? Join our no-fee National Pension Lawyers Network ! There is no obligation to take any case we refer to you. Join our network!

Plan Termination Pitfalls and How to Avoid Them: A Case Study

"[The] client determined that the final data file was not provided to the annuity provider and that the preliminary data file was used for the annuity purchases.... The magnitude of the calculation error would have created a large plan surplus as well as a large tax penalty if refunded back to the company as a plan sponsor at the conclusion of the plan termination. Additionally, annuities would have been purchased for participants who had already taken full distributions from the plan. This could have put the employer in the uncomfortable position of seeking a refund from the participants." Milliman

No, Retirement Plan Participation Isn't Plummeting

"In 1979, roughly half of full-time workers reported being offered a retirement plan at work. In 2013, the figure was again about one-half. But from 2013 through 2016 reported retirement plan coverage dropped from 47% to 37%, with only a modest rebound to 38% by 2017.... What actually happened has very little to do with pension coverage and a lot to do with how we measure pension coverage." Andrew Biggs, in Forbes

Actually, the Central States Pension Plan Is Fully Funded

"There is another 'Central States' -- the Midwest Pension Plan sponsored by the Central States Joint Board ... [and] it's fully funded.... [U]nlike the Central States/Teamsters mob connections which ... resulted in such a corrupt management of their funds that the union was stripped of its ability to control those funds in 1982, the Central States Joint Board seems to have suffered no ill effects and may even have seen unexpected benefits: because pension funds were (partially) kept at the bank ($16 out of $93 million), its assumed asset return was 6% per year in 1999 and for six years thereafter, considerably lower than the average rate used that year, 7.2% (or, at median, 7%)." Elizabeth Bauer, in Forbes

DOL and (Some) IRS Relief for Recent Hurricane and Fire Victims

"DOL will not pursue ERISA violations against plans for transactions involving hardship withdrawals, loans, and blackout notices for victims of Hurricanes Florence and Michael and the 2018 California wildfires. DOL has not mandated any additional COBRA deadline extension, as it did with hurricane Maria in 2017. Additionally, for victims of these hurricanes, the IRS has offered relief from a number of the usual distribution restrictions so that participants can quickly access their retirement plan funds for disaster-related needs." Buck

2019 Health and Retirement Plans Reporting and Disclosure Calendar: Single Employer Plans (PDF)

"[This 24-page calendar summarizes] the annual compliance requirements and disclosure obligations that health and retirement plan sponsors need to know. The content in these calendars raise issues that may cause plan sponsors to check, change or consider their current approaches." Sibson Consulting

2019 Health and Retirement Plans Reporting and Disclosure Calendar: Multiemployer Plans (PDF)

"[This 25-page calendar summarizes] the annual compliance requirements and disclosure obligations that health and retirement plan sponsors need to know. The content in these calendars raise issues that may cause plan sponsors to check, change or consider their current approaches." Segal Consulting

To Be or Not to Be ... Subject to the New Section 83(i) Deferral Process

"[C]ompanies will be able to opt out of Section 83(i) by not allowing employees to make the deferral election.... For companies that do want to allow their employees the option to make the deferral under Section 83(i), [ Notice 2018-97 ] gave further details on the law's requirement that grants of RSUs or stock options must be made to not less than 80 percent of a corporation's employees in the U.S. per calendar year. It also clarified how employers must withhold taxes from the deferred income."
Holland & Hart LLP

Reasons to Consider Expanded Year 2 CEO Pay Ratio Disclosures

"Companies now have two potential reasons to reconsider if their Year 2 disclosure remains consistent: [1] Do the SEC disclosure rules require them to provide more information on why their pay ratio changed or stayed the same? [2] Does the shareholder letter provide an opportunity to provide useful context to shareholders about workforce pay practices that can enhance a company's communication efforts to shareholder, their employees and the media? The answer may converge or diverge with other companies based on individual company circumstances." Willis Towers Watson

Create Excludable Class of Employees by Naming Particular Individuals?

Can an employer have as an excludable class of employees by specific name? For the 401k plan we are drafting, the employer wants to exclude 3 of the 15 HCEs. In creating an excludable class, could the plan document provide that "All HCEs are part of the excludable class, except individuals A, B and C"? BenefitsLink Message Boards

Reporting Periodic Distributions to Retirees from Not-for-Profit Employer's 457(b) Plan

Not For Profit (NFP) sponsor of 457(b) plan permits retired participants to either take a lump sum distribution or equal payments over a 10 year period after retirement. For those who take the lump sum option, this distribution amount is included in their final issued W-2 as they are still on payroll. The instructions for W-2 indicate that distributions from a NFP 457(b) plan are to be reflected on a W-2. If retired employee is no longer employed by the NFP, is the NFP still to report the annual distributions on a W-2 with required withholding, or are there any other options? 1099-MISC? BenefitsLink Message Boards

Which U.S. Government Activities Stop During a Shutdown?

Which governmental activities stop (or continue) during a U.S. government shutdown? Here's the DOL plan , the IRS plan , and the contingency plans of other agencies .
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

Global IQX API Unleashes Wealth of Data for Employee Benefits Insurers Global IQX, Inc.

The Retirement Advantage Acquires The Condon Company The Retirement Advantage [TRA]

Cowden Associates, Inc. Hires Top Talent for Health and Benefits, Retirement / Actuarial and Compensation Practices Cowden Associates, Inc.

Alegeus Announces Multi-Phased Innovation Initiative to Deliver the Industry's First "Smart HSA" Alegeus

View All Press Releases

Most Popular Items in the Previous Issue

The Ins and Outs of 403(b) Deferrals -- IRS Solves the Problem Ferenczy Benefits Law Center

401(k) Contribution Limits 2019: What Employers Need to Know ForUsAll

IRS Announces Transition Relief from the Once-In-Always-In Requirement for Excluding Part-Time Employees Under 403(b) Plans Proskauer's ERISA Practice Center