PLANSPONSOR Weekend Newsdash
Week ending April 5th, 2019
For more than a year, lawmakers have been working on legislation designed to increase employee coverage under employer-sponsored retirement plans and to encourage the use of lifetime income products in plans, and it seems momentum is building for the passage of such legislation. Meanwhile, lawmakers are also questioning the IRS’ reversal of its stance on offering lump-sum payment windows to retirees already receiving defined benefit (DB) plan annuity payments. Court cases also may have an effect on Employee Retirement Income Security Act (ERISA) rules, as well as regulations to increase access to health care benefits for employees. These items and more are the focus of this edition of PLANSPONSOR Weekend.
Editor's choice
Compliance
Senators Question a Policy Reversal to Allow Lump-Sum Payouts to Retirees
A letter to the IRS and Treasury asks why employers will be permitted to offload pension liabilities and transfer risk to retirees.Read more >
Compliance
Intel Wants Supreme Court’s Take on ‘Actual Knowledge’ Under ERISA
A decision by the Supreme Court on the question of what establishes “actual knowledge” of an alleged breach of fiduciary duty could have a big influence on how judges apply limitations periods in ERISA cases.Read more >
Compliance
Court Says DOL Overstepped Boundary with AHP Regulations
A district court has determined that the Department of Labor’s 2018 final regulations on association health plans are unlawful.Read more >
Compliance
Plan Sponsors Have a Duty to Monitor Health Benefit Service Providers and Fees
In a ruling in favor of a health benefit plan sponsor, a federal court judge lays out prudent processes the sponsor took to select and monitor service providers and monitor the plan’s fees.Read more >
Compliance
IRS Updates Operational Compliance List for Retirement Plans
2019 items for which plan amendments may be needed include changes to hardship withdrawal regulations, retirement plan relief for victims of 2018 hurricanes and nondiscrimination relief for closed defined benefit (DB) plans.Read more >
Compliance
Senators Propose Requiring Employers to Contribute to Workers’ Savings Accounts
The Saving for the Future Act would require employers to contribute 50 cents to a savings account for each worker for every hour worked, or more than $1,000 a year, with the goal of helping workers prepare for emergencies and retirement.Read more >
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Settlement Reached in Insperity 401(k) Excessive Fee, Self-Dealing Suit

Among other things, the lawsuit accused Reliance Trust Co. of selecting funds for the plan that would benefit itself.

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

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