PLANSPONSOR Weekend Newsdash
Week ending March 1st, 2019

Retirement plan sponsors’ fear of audits or enforcement actions can give them a sense that regulators are “big, bad wolves” coming to blow their house down. But, regulators are not bad guys always looking to subject plan sponsors to legal trouble. Issuance of reminders about how to comply with retirement plan rules, invitations to voluntarily correct errors, education events about plan sponsors’ responsibilities and proposals to simplify compliance are just some ways retirement plan regulators offer help to plan sponsors.

Editor's choice
Compliance
IRS Updates FAQs for Adopting a Pre-Appproved Retirement Plan Document
The web page provides information for retirement plan sponsors who have individually designed retirement plan documents but want to adopt a pre-approved prototype or volume submitter plan document. Read more >
Compliance
DOL Invites Correction for Failure to Timely Remit Contributions
An update from law firm Masuda, Funai, Eifert & Mitchell, Ltd. says that based on reviews of Form 5500s, the DOL’s Employee Benefit Security Administration (EBSA) is sending “no action” letters to plan sponsors. Read more >
Compliance
DOL’s Next Fiduciary Responsibilities Seminar Heading to Portland
In addition, the agency is holding a three-day webcast series in March. Read more >
Compliance
PBGC Issues Proposal for Computing Withdrawal Liability Under Multiemployer Plans
The proposed amendments would affect the determination of a withdrawing employer’s liability under a multiemployer plan and annual withdrawal liability payment amount when the plan has had benefit reductions, benefit suspensions, surcharges or contribution increases that must be disregarded. Read more >
Compliance
IRS Clarifies When Employers May Recoup Mistaken HSA Contributions
In Information Letter 2018-0033, the IRS offers some examples of the type of errors which may be corrected—expanding on previous guidance. Read more >
MOST POPULAR STORIES
SECURE Act Passes House, Bringing Calls for Senate Collaboration

Reflecting on the much-anticipated House vote, Kevin Walsh, principal with Groom Law Group, said today is an important day for the retirement industry, but it’s not the end of the story.

J.P. Morgan Agrees to Settle Stable Value Funds Suit

The firm has agreed to pay $75 million to settle litigation brought by multiple retirement plan participants alleging J.P. Morgan invested its stable value funds in risky assets.

Individuals, Employers and Government All Play a Part in Retirement Readiness

A new research report and Catherine Collinson, with Transamerica Center for Retirement Studies, lay out steps all three can take to improve retirement confidence and readiness in America.

Participant Loans: A Fiduciary Storm Brewing?
Bruce Ashton, with Drinker Biddle & Reath, discusses the fiduciary risk defined contribution (DC) plan sponsors could face when participants default on plan loans.
What to Know About Financial Audits Filed with Form 5500s
Plan sponsors required to file a financial audit along with their Form 5500 should know how regulators use the information and how to pick the best auditor.

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

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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