Which Canadian jurisdictions are examining Target Benefit Plans? An update from Ian McSweeney
Status of Target Benefit Plans in Quebec
BB&K's Isabel Safie Discusses the Implications of IRS’ Definition of Governmental Plan Status
Plan sponsors such as Ford, General Motors and more recently, Motorola, have made headlines for implementing strategies to remove liabilities from their balance sheets by cashing out participants and transferring their...more
This week, states’ Marketplaces are busy preparing for the 2015 Open Enrollment Period. Marketplaces are reviewing projected enrollment and renewal figures and releasing searchable databases for 2015 health plan rates, among...more
On October 15, 2014, Institutional Shareholder Services (ISS) published its draft policy changes for 2015 and opened a public comment period ending October 29, 2014. The proposed revisions for U.S. listed companies are...more
On October 23, 2014 the Internal Revenue Service (IRS) announced the cost-of-living adjustments impacting tax-qualified pension plans for 2015. The increase in the cost-of-living index met the statutory thresholds that...more
Plan sponsors should replace the Bad Plan Decision Makers.
It's time for them to go.
If your company's retirement plan got into some trouble because the powers that be who run the plan (whether it's the C.E.O.,...more
On October 23, 2014, the Internal Revenue Service announced cost of living adjustments affecting the limitations applicable to pension and other retirement plans, in IR 2014-99. Some of the limitations remain unchanged...more
I love professional wrestling and I’m not afraid to admit. Yes, I know it’s not real just like I know the Ewings don’t live on Southfork Ranch. Maybe it’s in my blood since both of my grandfathers watch it, but I find the...more
Being a long time plan provider for a client can be a good thing and it can be a bad thing. While having a long time base of clients is great for business and indicative of client satisfaction, it can be a bad thing too....more
If your company’s retirement plan got into some trouble because the powers that be who run the plan (whether it’s the C.E.O., human resources director, or retirement plan committee) took their eye off the plan, it may be a...more
In our last post in this series, we considered whether the development of decumulation strategies for defined contribution (DC) plans may be a matter of good DC governance. In this post, we review decumulation strategies in...more
After the downstairs play area was rebuilt after Hurricane Sandy, my wife went on a toy-buying spree to replace the board games we lost thanks to the five feet of water. My wife loves board games and the kids do too. Having...more
The Supreme Court is poised to address whether fiduciaries' decisions—especially in using fee sharing arrangements—are subject to deference when challenged. The Eighth and Ninth Circuit courts recently decided these issues,...more
Dumb Mistakes that 401(k) Financial Advisors Should Avoid -
Stuff to think about.
We all make mistakes, well except my mother. There are mistakes we make that we think are pretty good in hindsight, but end up...more
Employers and other health plan sponsors may be focused on preparing for the commencement of the employer mandate under the Affordable Care Act on January 1, 2015, but a number of other deadlines and developments are emerging...more
When we were children, our mothers told us stories that we believed to be true because we always believed what our parents were telling us was the truth. Part of growing up is realizing that a good chunk of what your mom told...more
Twenty-five years ago, the U.S. Supreme Court ruled that courts should review an ERISA participant’s claim for benefits under a de novo standard of review unless the plan gives the plan fiduciary discretionary authority to...more
These days when people who work in the pension industry talk about the various options available to develop an effective pension risk management strategy, they are fond of pointing out that when it comes to looking at the...more
This is a rally call for employers to evaluate employee benefit plan documents for compliance....more
Plan sponsors have been granted limited relief to bring cash balance interest crediting rates into compliance.
On September 18, the Internal Revenue Service (IRS) published final and proposed regulations for cash...more
The Pension Benefit Guaranty Corporation (PBGC) stated in a filing published in the Federal Register on September 23, 2014, that it intends to require that plan sponsors report to the PBGC “certain undertakings” to cashout or...more
On September 16, 2014, the United States Senate unanimously approved Senate Bill 2511, which would amend Section 4062(e) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), to clarify the definition of...more
Plan sponsors aren’t the greatest keeper of plan records because as a plan fiduciary, they think they get too many reports, prospectuses, and plan documents. It’s a lot paper to keep, but in a world of mobile storage thanks...more
It’s now Fall and it’s one of my least favorite time of the year because I love Spring and Summer and Fall means Winter is around the corner.
For a retirement plan professional, it’s one of the best times of the year...more
I was very lucky that when I started as an ERISA attorney in 1998, I worked as a staff attorney for third party administrators (TPAs) because it gave me insight and experience that I could never have gotten as an attorney...more
So much energy has been spent on what the final regulations on the employer shared responsibility tax and the related final reporting regulations (the “ESRR”), that some of the most significant considerations have been missed...more
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