| | Compliance | | DOL Seeks to Expand Access to ‘Association Retirement Plans’ | | Under the direction of President Trump, the Department of Labor (DOL) is seeking to make it easier for small businesses to form association retirement plans, which permit them to join together to offer defined contribution (DC) plans within a single administrative framework. To this end, the DOL has published a set of proposed regulations under Title 29 of the Code of Federal Regulations to expand access to retirement saving options by clarifying the circumstances under which an employer group, association, or professional employer organization (PEO) may sponsor a workplace retirement plan. In particular, the proposed regulation clarifies that employer groups or associations and PEOs can, when satisfying certain criteria, constitute “employers” within the meaning of Section 3(5) of the Employee Retirement Income Security Act (ERISA) for purposes of establishing or maintaining an individual account “employee pension benefit plan” within the meaning of ERISA Section 3(2).Read more > | | FASB Announces Changes to DB Plan Disclosure Requirements | | Some disclosure requirements are removed from Subtopic 715-20, Compensation—Retirement Benefits—Defined Benefit Plans—General, and some requirements are added.Read more > | | | Industry Voices | | Should Plan Sponsors Purchase Annuities for Their Pension Plan? | | David Davala, with Findley, discusses considerations for defined benefit (DB) plan sponsors before deciding whether to transfer some of their pension risk to an annuity provider.Read more > |
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