On February 4, 2019, the United States District Court for the Southern District of Texas found for defendant fiduciaries in Fentress v. Exxon, an insider information-based stock drop case. In this article we briefly review the decision, considering it in the context of stock drop litigation generally and the recent decision (for plaintiffs) by the… Read More
In this article we consider the “gains” and “losses” sustained by retirement plans of different designs, based on the performance of the asset and interest rate markets in 2018. How, and in what different ways, did 2018 market performance affect participants in and sponsors of these plans? Summary We consider four different basic plan designs:… Read More
The landscape surrounding physician employment has changed, and it has changed significantly. Where once physicians were largely self-employed and thus could enjoy earnings tied to each individual’s own level and choices of specialization and work, they now find themselves mostly employed by large health systems. And, as that new reality evolves, those health systems are… Read More
On August 18, 2018, the Internal Revenue Service released Private Letter Ruling (PLR) 201833012, concluding that a 401(k) plan that provided for “an employer non-elective contribution on behalf of an employee conditioned on that employee making student loan re-payments” [emphasis added] did not violate the Internal Revenue Code section 401(k) prohibition on conditioning a benefit on… Read More
In this regulatory update, we briefly review ERISA Advisory Council recommendations for rule changes to encourage the inclusion of lifetime income options in QDIAs, the effect of the new Society of Actuaries MP-2018 mortality improvement scale on liability valuations, and a recent IRS “Program Letter” identifying qualified plan distributions as a compliance target. ERISA Advisory… Read More
If you’ve been looking for ways to lower your plan costs, annuitizing could be the right move. Pension Risk Transfer not only transfers liability, but also lowers the costs you pay on your plan. Plan Administration Fees The larger your plan’s participant population, the greater your already costly administration fees can be. Companies are finding… Read More
Many companies including International Paper and FedEx, says the Wall Street Journal’s – CFO Journal, are taking advantage of the unique factors making now an ideal time to annuitize. Transferring plan liabilities to insurance companies through an annuity purchase is an effective way to decrease risk and reduce costs, and today’s market is an especially… Read More
Perspective Matters October Three was not only built on a refreshingly different approach to designing and administering pension plans, but seeded by our passion for helping empower employees toward secure, successful retirement. Over the past nine years, we have been privileged to work alongside remarkable people like you who continually reinforce that mission as the… Read More
February was a difficult month for investments, but a so-so month for pension finance due to higher interest rates. Both model pension plans we track1 were close to flat last month. For the year, Plan A remains 5% ahead, while Plan B is up 1%: Assets Stocks suffered their worst month in over two years… Read More
On December 19, 2017, the House and then the Senate approved HR 1, the “Tax Cuts and Jobs Act.” (Because of Senate procedural rules, the bill as passed by the Senate was, in three minor respects, different from the House bill and was sent back to the House for re-approval on December 20, 2017.) President… Read More
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