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Hybrid plans

Portman and Cardin propose comprehensive retirement policy legislation

Senators Portman (R-OH) and Cardin (D-MD) have released a summary and discussion draft of “A Bill To Enhance Retirement Security” (“Portman Cardin 2018”), proposing significant changes to current rules not included in either the House Republicans’ Family Savings Act (FSA) or the Senate’s bipartisan Retirement Enhancement and Savings Act (RESA). In this article we review…Read More

2014 review of defined benefit plan issues

In 2014 there were several major DB policy developments, including a significant extension of MAP-21 funding relief, new mortality tables and the finalization of the hybrid plan regulations on ‘market rate of return.’ In addition, the year-end federal spending deal included ERISA section 4062(e) legislation. In this article we review these developments, beginning with the…Read More

Variable annuity designs: promise and pitfalls

While corporate America continues to move away from defined benefit (DB) plans, these designs have enjoyed a sharp uptick in popularity in some market segments in recent years. The trend is due in part to enabling legislation (the Pension Protection Act (PPA), enacted in 2006), which has sparked a wave of innovative plan design solutions….Read More

Law Firm Defined Benefit Plan Structures

During the past 15 years, virtually every law firm in the Am Law 100 has adopted a defined benefit plan to provide their Partners with enhanced retirement benefits. While each Firm may have different objectives for what they wish to accomplish, certain general themes are shared when it comes to key design considerations. Flexibility around…Read More