Retirement Plans
-
DOL Issues Guidance on Lifetime Income Disclosure for Defined Contribution Plans
If you have a really good memory you might recall that way back at the end of last year Congress actually passed a significant retirement bill called the Setting Every Community Up for Retirement Enhancement Act (the “SECURE Act”). We […]
-
How To Successfully Navigate A DOL ESOP Investigation
“Dear Sir or Madam…our office has scheduled a review of the above captioned plan to determine compliance with the provisions of ERISA.” A formal notice from the Department of Labor (DOL) can bring a sense of unease to any employee […]
-
Powerful Insights from Interactive Forecasting of Defined Benefit Pension Plan Results
With the current volatility in long-term bond rates and in the investment market, plan sponsors should examine the impact of the market on the future of their defined benefit pension plan. The market downturn due to COVID-19 severely impacted the […]
-
Quarterly Contributions: To Delay or Not to Delay. PBGC Premium Savings Either Way
Looking for the silver lining in the clouds hanging over 2020? Through the CARES Act, defined benefit pension plan sponsors have a unique opportunity for significant savings in Pension Benefit Guaranty Corporation (PBGC) premiums. For plan sponsors who pay a […]
-
Is it Time to Restate Your Defined Contribution Plan?
Whether your defined contribution plan is a 401(k) plan, a profit-sharing plan, a money purchase pension plan or an employee stock ownership plan, and whether your plan is a mostly “run of the mill” individually designed plan or a plan […]
-
Single Employer Defined Benefit Plan CARES Act Guidance Issued by IRS
IRS Notice 2020-61 was issued on August 6, 2020, and provides clarification on the relief the CARES Act provided to single employer defined benefit plans. The CARES Act extended the due date of all 2020 calendar year required pension plan […]
-
PBGC Clarifies Rules around Pension Plan Changes Made by CARES Act
On July 20th, the PBGC published an update for how to calculate PBGC premium payments for pension plan sponsors that are taking advantage of the delayed contribution due dates afforded by the CARES Act. Further, it provides relief from unneeded […]
-
IRS Issues Guidance for Mid-Year Reduction/Suspension of Safe Harbor Contributions
The IRS has issued Notice 2020-52 which clarifies the requirements for a mid-year amendment to a safe harbor 401(k) or 401(m) plan that reduces or suspends contributions made only on behalf of highly compensated employees (HCEs). The notice also provides […]
-
Rate of Return Assumptions Hounded by Market Changes
In a recently released Issue Brief, the Academy of Actuaries discusses the interplay of the rate of return assumption and the investment mix. Focusing on the long-term return rate assumption for defined benefit pension plans, a familiar idiom comes to […]
-
Do Government Pension Plan Sponsors Know Their Risk?
It has been just over a year since the Actuarial Standards Board introduced Actuarial Standard of Practice No. 51 (ASOP 51) which requires actuaries to disclose certain risks to plan sponsors. ASOP 51 directs the actuary to assess and disclose […]
- Categories
