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week ending April 17th, 2020 Now may be a good time to review all the retirement-plan related decisions plan sponsors are contemplating right now. Reminding defined contribution (DC) plan participants to stay the course in their investments cannot be repeated enough; there is evidence that participants listen. The message to stay the course is also relevant to defined benefit (DB) plan sponsors that may be wondering what they should do with their investments during this unprecedented time. For plan sponsors contemplating a change to employer contributions to their DC plans, if they’ve been able to participate in the paycheck protection program, that money can cover retirement plan contributions as well, the government confirmed. If plan sponsors are still contemplating whether they will allow for COVID-19 distributions and expanded loan limits, they should consider the needs of their workforce and be sure to include messaging to let participants know how their decisions may impact their long-term financial goals. And, some plan sponsors with non-calendar year plan year-ends have been given relief on Form 5500 filing deadlines, but for those with calendar year-ends, the July deadline so far has not been changed—it’s business as usual on that front. Information to help guide plan sponsor decisions can be found in this edition of PLANSPONSOR Weekend. Editor's Choice Investing Money Manager’s COVID-19 Message: Stay the Course “Rather than panic and act on their emotions, the vast majority of participants allowed their DC plans to do the job they were meant to do,” says Katherine Roy at J.P. Morgan, recalling the lessons learned from the Great Recession. Investing Past Bear Market Strategies No Comfort for DB Plans Right Now Pension plan consultants are tweaking recommendations for DB plan sponsors during the unprecedented volatility created by the coronavirus pandemic. Administration Few Plan Sponsors Planning Retirement Benefit Cuts Right Now Experts say firms are focused on making sure their business survives, hopeful that the economy will bounce back when the coronavirus is eradicated. Compliance PBGC Extends Certain Premium Payment and Filing Deadlines The action is in response to an IRS extension of some retirement plans’ Form 5500 filing deadlines. Compliance Form 5500 Basics: What Sponsors Need to Know The purpose of Form 5500 is to obtain information regarding plan design and basic plan sponsor information, and the regulatory penalties for failures in filing the form can be severe. Popular Reads 2020 Recordkeeping Survey Data and Research Edward Jones and Age Wave Introduce the New Four Pillars of Retirement The ideas explain what retirees are focusing on after the workforce and as they enter the next chapter. Compliance Parties in Emory University 403(b) Plan Lawsuit File Settlement Agreement In addition to paying $16.75 million, the settlement agreement calls for a review of investments and a recordkeeping request for proposals. Administration CARES Act Special Considerations for 403(b) Plans Participants invested in annuity contracts may face charges for distributions and limits on amounts they can take as a distribution or loan that they may not be aware of. Investing Is It Time for the U.S. to Create a Sovereign Wealth Fund? As the U.S. government looks for a cure-all amid the financial crisis, some experts are looking to a government-owned wealth fund as an answer. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Weekend directly in your mailbox!

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