2018 Planning for ERISA Single-Employer DC Plan Operations
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Newsletter Sponsor Are All $5,000,000 401(k) Plans Created Equal? Just Published! The 401k Averages Book has released a new Special Report taking a closer look at two 401(k) Fee Benchmarks. The report compares two plans with the same assets with different average account balances. Click here for your copy of the report. In This Issue
Compliance and Regulatory 2018 Planning for ERISA Single-Employer DC Plan Operations Abstract: This paper will help you set up a yearly schedule of activities, so you do not miss important deadlines for your qualified plans. As you evaluate the various tasks, you can confirm suitable deadlines with your vendors for their completion. Identifies and addresses other activities that are event-based and participant-specific. Source: Conduent.com Puerto Rico Treasury Department Finally Grants Relief to Participants Affected by Hurricane Maria Abstract: The Puerto Rico Treasury Department issued Administrative Determination No. 17-29 to grant relief on eligible distributions (including, hardship withdrawals) and plan loans by participants in Puerto Rico tax qualified retirement plans who were affected by Hurricane Maria. Source: Groom.com Updated List of Required Modifications for DC Plans Abstract: The IRS releases its updated list of required modifications for defined contribution plans. The information package contains samples of plan provisions that have been found to satisfy certain specific requirements of the Internal Revenue Code, taking into account changes in the plan qualification requirements, regulations, revenue rulings, and other guidance. Source: Benefitsforward.com Are You Up-to-Date on Qualified Plan Beneficiary Rules? Abstract: Most TPAs don't wake up first thing in the morning thinking about qualified plan beneficiary rules. However, improper payments due to lack of knowledge about these rules can have unwanted consequences. As the first in a series, this article covers the basic rules of the spouse beneficiary requirement for qualified plans. Source: Penchecks.com »» Click here for more Compliance and Regulatory Material General Items How to Save for Retirement (No Matter How Young) Abstract: When your friends are still toiling away at 60, you'll be the one laughing and thanking yourself for being so smart to have started saving for retirement in your twenties. That's why it's important to get into a practical savings plan on even the smallest of budgets. This guide will show you that it only takes a little bit of your paycheck to build a strong foundation now for financial security later. Source: Creditloan.com Six Tips to Take DC Plans to the Next Level Abstract: Tax reform. Interest-rate hikes. Regulatory questions. Inflation. There's always a reason to put off making changes to your company's DC plan. But some improvements will be good for your plan and participants no matter what happens. Here are six tips to help you enhance your firms' retirement-readiness offerings. Source: Alliancebernstein.com Fiduciary and Plan Governance Material Best Practices - Investment Menu Construction Abstract: How can plan sponsors build an investment menu that will facilitate improved long-term participant outcomes? Investment Menu Construction discusses how findings from behavioral economists can help guide the construction of an investment lineup that will make participant decision-making easier. Source: Arnerichmassena.com Fiduciary Standard Quandary: First Avoid "Harm"onization Abstract: In the debate between suitability and fiduciary standards, reliance on disclosure may be viewed as a loophole and many see the "harm" emerging from harmonization. Reliance on more disclosure as a remedy will water down the fiduciary standard and provide weak consumer protection. The very term "harmonization" implies compromise. Source: Fiduciarynews.com Abstract: Evaluating responses to your plan auditor request for proposals can be done simply and efficiently if you lay out the criteria you consider most critical in advance and assign a weight in terms of importance to each. This approach creates a framework of objectivity before you begin reviewing the proposals. Source: Fiduciaryplangovernance.com »» Click here for more Fiduciary and Plan Governance Material Insight: Studies, Research, and White Papers Management Fees Paid by Sponsors Stay Steady, Callan Survey Finds Abstract: The research features highlights of total fund-level fees, performance-based fees, and fee negotiation practices, but the heart of the questionnaire focuses on actual fees paid by asset owners to fund managers compared to published fee schedules at the asset class level. Source: Callan.com »» Click here for More Studies, Research, and White Papers Target-Date Funds Competition for Target-Date Funds Is Heating Up Abstract: Competition for target-date funds in the DC market is showing no sign of abating. DC Specialists are looking outside the two-dominant target-date fund providers. While American Funds and Vanguard continue to square off for the greatest proportion of target-date fund dollars among this elite plan advisor segment, three investment managers are gaining ground. Source: Marketstrategies.com A Tipping Point for Target-Date Funds Abstract: Vanguard plan participants reached a critical tipping point. Half of all Vanguard participants are invested in a single target-date fund. And 57% of all participants were solely invested in a professionally managed allocation: 4% were using managed account options, 3% held a single-risk-based balanced fund, and 50% held one TDF. Source: Vanguardinstitutionalblog.com »» Click here for more on Target-Date Funds Legislative and Washington DC 401k and 403b Contributions Still on the Chopping Block Abstract: The Senate is now considering cutting back on contributions under 401k, 403b and 457 plans, which remains bad retirement policy for many reasons. Here's what is now under consideration. Source: Cohenbuckmann.com »» Click here for more on Legislative Actions State-Based Retirement Programs Connecticut Pushes Back Implementation Date for State-Run Auto-IRA Program Abstract: Connecticut was one of the first states to adopt such a program, requiring employers in the private sector over a certain size offer a retirement plan for their employees. But the Nutmeg State's state-run auto-IRA plan for private sector workers isn't going to be ready for business on Jan. 1, 2018. Source: Ntsa-net.org Marketplace News Plan Sponsor Council of America Joins American Retirement Association Head of Merrill Lynch's Adviser-Sold 401k Sales to Depart Jocelyn Pension Joins the Alliance Benefit Group »» Click here for More Marketplace News
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