PLANSPONSOR Weekend Newsdash
Week ending September 6th, 2019
The Employee Retirement Income Security Act (ERISA) requires retirement plan sponsors to act in the best interest of plan participants, not to make decisions to avoid lawsuits. However, lawsuits can offer insights into how to act in the best interest of plan participants. Plan sponsors also need to make sure they understand all the laws affecting their retirement plans—qualified and nonqualified. Guidance from agencies can help plan sponsors with plan administration issues—such as the IRS’ recent guidance about uncashed checks. And, in some cases, state laws guide plan administration and design—especially for K-12 403(b) plans. Enjoy this edition of PLANSPONSOR Weekend!
Editor's choice
Compliance
Groups Urge Supreme Court Not to Undermine Value of Plan Disclosures
They argue that retirement plan disclosures give retirement plan participants the “actual knowledge” required by ERISA, whether participants read them or not, and that an appellate court decision in the Intel case exacerbates the risk of hindsight bias in ERISA cases.Read more >
Compliance
Litigators Share What They Investigate for Filing TDF Lawsuits
A litigation firm has listed what it is investigating for potential lawsuits over target-date funds (TDFs) in retirement plans, and an ERISA attorney makes suggestions for how plan fiduciaries may avoid such suits.Read more >
Compliance
Nonqualified Deferred Compensation Plans and Section 409A
NQDC plan sponsors must understand Section 409A rules to avoid unintended tax consequences and, possibly, participant lawsuits.Read more >
Compliance
IRS Issues Guidance About Uncashed Retirement Plan Distributions
A Revenue Ruling addresses whether an individual’s failure to cash a distribution check received alters the employer’s obligations with respect to withholdings and reporting under the Internal Revenue Code.Read more >
Compliance
State Laws Prevent Single Provider for Some K-12 403(b)s
Yet another law requiring multiple providers for K-12 403(b) plans is reigniting the debate over whether more choice is good or bad for participants.Read more >
MOST POPULAR STORIES
Democrats Take Control of the Senate: What Does That Mean for Your Retirement Plan?

Syed Nishat, with Wall Street Alliance Group, discusses potential effects on retirement plans if President Joe Biden is able to move forward his legislative agenda.

2020 Recordkeeping Survey
Takeda Pharmaceuticals Faces ERISA Lawsuit Over TDF Suite in 401(k) Plan

The lawsuit says the target-date funds were selected for the plan despite having no performance history and, when they continued to underperform, they were not replaced with better options.

The Value of Having a Retirement Plan Committee Charter
While not required by ERISA, attorneys say a committee charter is a best practice that can help a plan run more smoothly—and help fiduciaries avoid litigation and penalties.
Pandemic Puts More Households at Risk in Retirement

The Center for Retirement Research says half of American households are at risk of not being able to live at pre-retirement standards of living in retirement.

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

Advertising: advertise@strategic-i.com

Subscribe to NewsDash, click here.
To unsubscribe, click here.
BrightScope / CIO / FWW / Investor Economics / LiquidMetrix / Market Metrics / Matrix Solutions / PLANADVISER / Plan For Life / PLANSPONSOR / Simfund