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
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 >
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 >
DOL’s Next Fiduciary Responsibilities Seminar Heading to Portland
In addition, the agency is holding a three-day webcast series in March.Read more >
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 >
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 >
Another Schlichter Suit Targets Sponsor and Providers

Even cases that allege potential wrongdoing on the part of a service provider are often targeted exclusively at the plan sponsor. Not so in the latest suit filed by the law firm Schlichter Bogard & Denton.

Could There Be a Renewed Interest in DB Plans?
There are plan designs that decrease the risk and volatility for plan sponsors, and defined benefit plans offer the guaranteed lifetime income participants desire.
2020 Recordkeeping Survey
2020 Best in Class DC Providers
Participants Are Saving More With ‘TDF-Plus’ Strategies

A new study finds participants who blended funds were on track to replace more of their pre-retirement income than those who did not.

Editorial: Alison Cooke Mintzer


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