PLANSPONSOR Weekend Newsdash
Week ending March 23rd, 2018
Happy Friday, PLANSPONSOR readers! This week we focus on defined benefit (DB) plans. The Internal Revenue Service (IRS) has made a couple of announcements regarding DB plans, and a proposed bill in West Virginia would make it a criminal offense not to make contributions to public pension plans. Speaking of DB plan contributions, a study finds the largest corporate DB plans are leading the way in accelerating pension funding. With the stock market dives in February, DB plans’ funded status was tempered by higher liability discount rates. And, more than half of institutional investors have increased their allocations to focused investment strategies. Enjoy this edition of PLANSPONSOR Weekend!
Editor's choice
Compliance
IRS Reduces Fee for Terminating Plan Determination Letter
Plan sponsors who have already submitted an Application for Determination for Terminating Plan in 2018 will receive a refund of $700.Read more >
Compliance
IRS Extends Remedial Amendment Cycle for Pre-Approved DB Plans
A plan sponsor using pre-approved plan documents to restate a plan for the plan qualification requirements included on the 2012 Cumulative List will be required to adopt the plan document by April 30, 2020.Read more >
Compliance
W. Va. Bill Would Criminalize Failure to Make Public Pension System Contributions
Under the proposed legislation, any employer or public official who willfully fails to make contributions to public pension plans can face a sentence as low as a $100 fine or as high as 10 years in prison.Read more >
Administration
Largest DB Plans Lead in Accelerating Pension Funding
Following a pattern as trendsetters, the 20 members of the $20 billion club collectively dismissed funding relief and paid more than triple their mandated contributions in 2017, according to Russell Investments.Read more >
Administration
Increase in Discount Rates Tempered DB Funded Status Losses in February
Institutions that track defined benefit (DB) plans’ funded ratios measured increases or decreases in funded status as high as 1%, but noted it could have been worse if not offset by higher liability discount rates.Read more >
Investments
Institutional Investors See Chance for Alpha in Focused Strategies
In the past 12 to 18 months, 56% of institutional investors have increased their exposure to focused strategies, defined as 50 or fewer holdings, a survey finds.Read more >
MOST POPULAR STORIES
2021 Target-Date Fund Survey
The DOL Has Begun Retirement Plan Cybersecurity Audits

Attorneys say the requests plan fiduciaries have received ask for a broad amount of information and documentation, and they urge fiduciaries to act on the DOL’s recent guidance.

Rush of Litigation Against Retirement Plans Expected to Continue
One insurer says the more than $1 billion in settlements thus far could make fiduciary insurance a thing of the past.
2020 Recordkeeping Survey
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?

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

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