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Pensions, Retirement & Markets: 5 Key Trends to Watch in 2021

Join us as we kick off the 2021 PENTalkTM series with our 5th annual Pensions, Retirement and Markets installment: 5 Key Trends to Watch in 2021. We’ll share insights highlighting five trends in the capital markets and retirement industry which are expected to impact pension…

Plan Audits

…of the year count. That’s important because it can include former employees if they still have an account balance. This reality, plus the annual plan cost of carrying former employees, encourages many plan sponsors to force out former employees with small balances. The Department of…

Feeling More SECURE About Retirement

…its employees. The bill is also constructed in a way to provide long-term part-time employees access to their employer’s retirement plans. It also recognizes that the average life expectancy of Americans has been increasing, along with people’s willingness and ability to work longer – by…

What’s Included In A Plan Document

…with the state excluded the incarcerated employees, its plan document did not. As the 3(16) fiduciary administrator for the plan, naturally, this set off a long series of conversations around the definition of an ‘employee’ and a great deal of discussion with our legal team….

Long Awaited BOLI Clarification

…say that Bank A acquired Bank B, and Bank B Employee X – covered by a BOLI policy—is terminated as part of the transaction. Under the TCJA, when Employee X died, some of the BOLI proceeds for Bank A would now be taxable. Keep in…

A Checklist for Plan Sponsors

…are some points to check. How the Plan Is Presented. The more convinced employees are of the wisdom of saving for retirement, the greater the level of employee participation. The greater the participation, the more the plan can benefit all employees — including highly compensated…

Second Thoughts About the SECURE Act

employees, through an Open MEP (Multiple Employer Plan); raise the required minimum distribution age from 70½ to 72; and concurrently remove the age limit for contributing to Individual Retirement Accounts (IRAs). It also would make it easier for employees to transfer their retirement plan assets…

The Case for BOLI

…program expenses. Banks earn income from the growth of the BOLI cash value and from the life insurance proceeds paid to the bank on the death of the insured employee. Note that banks do not purchase BOLI to benefit from an employee’s death, but rather…

Benchmarking Your Organization’s Retirement Plan

While assessing whether or not your plan is in line with the current trends and best practices for retirement plans may be low on your “to do” list, it is important factor when it comes to employee recruiting and retention, and also in meeting your…

Dialing for DOL Dollars

…find them on the other end of your phone. But those phone calls and audits can be beneficial to plan participants: the DOL’s Employee Benefits Security Administration (EBSA) agency, through its enforcement of the Employee Retirement Income Security Act of 1974 (ERISA), is responsible for…