May 2016 Archive

Monitoring advice providers under the new Conflict of Interest regulation

May 17, 2016

In this article we review that issue in detail, but let’s begin with our bottom line: While the new rule doesn’t change the plan fiduciary’s legal obligation under ERISA to monitor the prudence of the appointment of a (fiduciary or non-fiduciary) service provider, the new requirements applicable to the provider will be stricter and more complicated. And reviewing the provider’s compliance with those requirements will make the plan fiduciary’s obligation more burdensome. Read More

Participant communications and the Conflict of Interest regulation

May 10, 2016

For plan sponsors, one of the most important questions raised by the new conflict of interest regulation is: how will it affect participant communications? In this article we sketch out some provisional answers to that question. Read More

Frozen plan update

May 27, 2016

In January 2016, IRS published a proposed regulation addressing the issue of the application of Tax Code nondiscrimination rules to frozen DB plans. In April 2016, IRS announced its intention to withdraw certain provisions from that proposal. In this article we discuss the provisions of IRS proposal applicable to frozen plans and some issues under it that have been identified as problematic. Read More

Treasury's Ruling Raises Question Of Multiemployer Rescue Petition Process

May 12, 2016

(Reprinted from Bloomberg BNA) Prior to Treasury’s ruling on Central States’ petition, only four other funds were known to have filed a rescue plan petition. ‘‘The department’s rejection of Central States’ petition isn’t likely to stop other multiemployer plans from filing their own rescue plan applications,’’ John Lowell, pension consultant for October Three in Atlanta, told Bloomberg BNA May 10. Download

Jeff Cutts, Partner, Joins October Three Consulting

May 02, 2016

“I am thrilled to have this opportunity to join October Three Consulting,” stated Cutts. “Their advances in pension administration technology, including innovative functionality such as daily valuation of market return cash balance plans, is truly impressive.” Download

April 2016 Pension Finance Update

May 03, 2016

Pension sponsors suffered another down month in April on the back of relentlessly lower interest rates. Both model pension plans we track lost ground last month: Plan A slipped 2% in April, and is now down more than 7% this year, while Plan B lost less than 1% last month and is now down more than 3% during 2016. Read More

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