PLANADVISER Weekend Newsdash
Week ending January 11th, 2019

Happy Friday, readers! Regular readers of our newsletters will already know that 2019 is off to a busy start in terms of retirement plan litigation, regulation and legislation. An important decision has been handed down in a 403(b) lawsuit targeting a big-ticket U.S. university; the IRS has published a new revenue procedure; the PBGC has updated its table of penalties and fines; and more. Read the stories below to get caught up on the latest developments in Washington and the federal courts.

Editor's choice
Georgetown University 403(b) Plan Defeats ERISA Challenge
In a colorfully worded opinion, the district court judge chides plaintiffs for failing to acknowledge basic facts about the way annuities work and their well-established role in 403(b) plans. Read more >
‘Other Circumstances’ Added As Allowable Reason for Applying for Determination Letter
A new Revenue Procedure makes a change to Revenue Procedure 2018–4 Section 8.02 to add new section 3, “Other Circumstances,” to provide a new category for which determination letters can be requested. Read more >
PBGC Updates Penalties for Failure to Provide Information
New maximum civil penalties for failure to provide certain notices or other material information and for failure to provide certain multiemployer plan notices have been announced. Read more >
New House Ways & Means Chair Introduces Multiemployer Pension Bill
Representative Richard Neal has introduced a bill with bipartisan backers that would take several steps towards solving the union multiemployer pension funding crisis. Read more >
Puerto Rico Treasury Updates 2019 Contribution/Benefit Limits
The Puerto Rico Internal Revenue Code of 2011 requires that, before the beginning of each taxable year, the PR Treasury provide notice of the applicable limits under Section 401(a) of the U.S. Internal Revenue Code of 1986, which are incorporated by reference into the Puerto Rico Code limits. Read more >
2018 Delivered Key Decisions in ERISA Cases
ERISA lawsuits very often lead to settlements or dismissals, but 2018 brought a series of important and potentially precedent-setting decisions in both district and appellate courts. Read more >
MOST POPULAR STORIES
Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

Coronavirus Hardship Withdrawals, Taxes and Your Retirement Plan Clients
Coronavirus-related withdrawals made in 2020 were a financial lifeline for some, but they could also turn into a major tax headache for others.
Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
Many Near-Retirees Don't Understand Social Security Benefits

More than one-third failed a basic Social Security quiz administered by MassMutual.

The Most Common Retirement Plan Testing Mistakes

By alerting plan sponsors to the issues they see most often, advisers can help their clients navigate IRS testing rules.

rss icon twitter icon linkedin-in icon facebook icon
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2021 Asset International, Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850