Articles

Treasury Issues Final Regulations on Reportable Policy Sale Provisions

Last month, the Internal Revenue Service (IRS) issued Final Regulations, which established rules around the Reportable Policy Sale provisions included in the Tax Cuts and Jobs Act of 2017 (TCJA).

IRS Plan Limits

Each year, the Internal Revenue Service publishes updated dollar limitations for tax-qualified defined benefit and defined contribution plans. The limits are important for tax-qualified plans, as well as many non-qualified plans.

Determining Whether or Not You Need a Plan Committee

Managing a company retirement plan by committee is not required by the IRS or the Department of Labor. But many plan sponsors find that setting up a plan committee is the best way to manage their fiduciary responsibilities and maintain compliance with the rules governing retirement plans. 

May a Plan Pay the Sponsor Costs for Helping to Run an ERISA Plan?

As plan sponsors are aware, operating any employee benefit plan costs money. Depending on the nature of these costs, they may be paid from plan assets. Where a plan is subject to Employee Retirement Income Security Act of 1974 (ERISA), in addition to general considerations of prudence any such reimbursements are subject to ERISA’s prohibited transaction rules.

Monitoring Managed Accounts: A Fiduciary Duty
 

In our previous newsletters, we discussed the growing demand for managed account services and previewed the product that Newport Group will soon be launching.  As a quick review, a managed account service identifies an investor's risk profile, assigns a portfolio that is suitable to the investor and monitors the portfolio over time, adjusting risk as needed.

Considerations for Separate Account BOLI Owners

Banks have been using separate account BOLI as informal offset to employee benefits costs since the late 1990s. During the early 2000s, the separate account structure became the product of choice for many mid- and large-sized banks. The structure requires an allocation of premiums to one or more investment sub-accounts offered by the insurance carrier.

What the CEO Needs to Know About Compensation Best Practices

The marketplace for talent continues to change. So what should the CEO be aware of? Newport Group's Compensation Consulting Team can help. 

Advisor Support for Plan Committee Best Practices

As a retirement plan advisor, you can help your plan sponsor clients with their fiduciary obligations by guiding them through the establishment of a plan committee. A plan committee considers, investigates, and takes action on retirement plan matters, and is one of the most effective ways plan sponsors can meet the procedural due diligence obligations of an ERISA fiduciary. Some of the potential benefits of using a committee to manage a retirement plan include:

Qualified Plan Cross-Selling and Its Impact on Fiduciaries

It is no secret that retirement benefit plan cost structures have been under intense scrutiny in recent years. Across the board, plan fees have seen a marked decrease which is positive for plan participants and their retirement savings. With these fee compressions, retirement industry service providers with multiple financial services business units have been searching for alternate revenue streams to fill the void. Plan fiduciaries need to evaluate and understand what is being done with plan participant data, as well as the solicitation practices associated with these non-plan products and services.
 

How to Find, Fix and Avoid Plan Loan Mistakes

Plan loans are a popular feature of 401(k) and other retirement plans. Workers may be more likely to save for retirement in an employer sponsored plan if they know they can access their savings during their working years. And if they do need to do so, a plan loan enables them to restore their savings, with interest, back to their retirement plan account.

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