PLANSPONSOR Weekend Newsdash
Week ending July 12th, 2019
The retirement plan industry will be closely watching cases taken on by the Supreme Court regarding when “actual knowledge” occurs for plaintiffs and whether participants can show harm for fiduciary breaches when a defined benefit (DB) plan is well-funded. Meanwhile, a case already decided by the high court could have implications for future retirement plan litigation. Form 5500 filings are due soon, and while some plan sponsors may dread the annual financial audit, one auditor suggests it can help plan sponsors identify mistakes and improve compliance. If mistakes are found, many can be self-corrected. Enjoy this edition of PLANSPONSOR Weekend!
Editor's choice
Compliance
Supreme Court Takes on Intel Case About ‘Actual Knowledge’
The investment committee for two Intel Corporation retirement plans asked the court to determine whether the provision of plan documents, in itself, creates for participants “actual knowledge” of an alleged fiduciary breach under the Employee Retirement Income Security Act (ERISA).Read more >
Compliance
Supreme Court Asked If Well-Funded Pensions Can Harm Participants
ERISA allows plan participants to sue to remedy demonstrable harms they have suffered as a result of fiduciary breaches. Less clear is how to apply ERISA’s remedies when a breach is alleged to have occurred within a well-funded pension plan.Read more >
Compliance
Supreme Court Rules in Case With Major Implications for Retirement Plans
The case concerns the issue of how much courts should defer to agency (such as IRS or Department of Labor) interpretations of regulations.Read more >
Compliance
Engaging With Plan Auditors Can Improve Plan Operations and Governance
In testimony to the ERISA Advisory Council, James Haubrock, with the American Institute of Certified Public Accountants (AICPA), explained how using findings from retirement plan financial audits can help plan sponsors improve their processes and compliance.Read more >
Compliance
Regulators Finalize New HRA Rule
Starting next January, employers can give their workers tax-deferred funds to go shopping for a health plan, thanks to individual coverage health reimbursement arrangements.Read more >
MOST POPULAR STORIES
IRS Announces 2020 Contribution and Benefit Limits

The contribution limit for employees who participate in 401(k), 403(b) and most 457 plans is increased from $19,000 to $19,500.

IRS Proposes Update to Mortality Tables Used to Calculate RMDs

The life expectancy tables and applicable distribution period tables in the proposed regulations reflect longer life expectancies than the tables in the existing regulations.

Maximum Benefit and Contribution Limits Table 2020

Maximum Benefit/Contribution Limits for 2015 through 2020, with a downloadable PDF of limits from 2010 to 2020.

Employees Are Making Each Other Sick

Having too much work to do and feeling pressure from employers are some reasons employees report coming into work while under the weather.

Congressional Leaders Want SECURE Act Passage in 2019

Based on the conversations industry advocates are having in Washington, none of the leadership in the Senate or the House opposes passage of the SECURE Act.

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

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