September 2015 Archive

Bipartisan policy proposals for DC plans

September 04, 2015

In July 2015, the Savings & Investment Bipartisan Tax Working Group (WG) of the Senate Finance produced a report for the Committee's broader tax reform project. The WG report provides a useful inventory of current bipartisan defined contribution plan policy proposals. In this article we summarize the report. Read More

PBGC issues final reportable event regulation using "low-default-risk" test

September 29, 2015

On September 11, 2015, the Pension Benefit Guaranty Corporation (PBGC) finalized reportable event regulations under ERISA section 4043. The major feature of the new regulation is a tightening of the ‘well-funded plan’ waiver and the addition of a new ‘low-default-risk’ waiver, shifting focus (for the first time in a PBGC rule) from the financial condition of the plan to the financial condition of the plan sponsor. In this article, we focus on some of the key changes made by the new rule. Read More

The fiduciary duty to monitor – non-fiduciary service providers

September 03, 2015

In this article we discuss the duty to monitor non-fiduciary service providers. As with our prior articles, we focus on duty-to-monitor issues in DC plans. In this article we focus on two aspects of plan service provider arrangements that can make the monitoring process especially challenging: fees and revenue sharing arrangements. We begin with some remarks about how monitoring service providers is different from monitoring investment managers. Read More

August 2015 Pension Finance Update

September 01, 2015

Fears of a slowdown in China rippled through financial markets in August, producing drops in stock markets around the world and erasing most of the ‘cushion’ pension sponsors had built up during 2015. Both model pension plans we track lost ground in August – Plan A slipped more than 3% and Plan B lost more than 1% on the month – but both plans remain up about 2% on the year through August. Read More

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