SAL TRIPODI - TRI Pension Services
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Pension News

  • The 2019 Annual Hawaii Seminar will be held on Wednesday, November 20 through Friday, November 22, 2019, in Honolulu, Hawaii. Click here for more details!
  • eRISA Update (Quarterly Current Developments Service):
    eRISA Update is an electronic current developments service, providing comprehensive summaries of all the important developments in the retirement plan area. The following is a description from the latest issue, Winter 2018-2019
    Legislative Update.There is no Legislative Update in this issue.
    IRS/Treasury Update. (1) proposed regulations from the Treasury explaining the new hardship provisions enacted by the Bipartisan Budget Act of 2018 and proposing a restructuring of the hardship distribution requirements regarding a showing of financial necessity; (2) the applicable dollar limits for 2019, (3) the annual update of the IRS’ procedures for obtain determination letters and private letter rulings, and the user fees for those submissions as well as VCP submissions, (4) the latest update of the IRS’ Remedial Amendment List for individually-designed plans, (5) disaster relief for victims of Hurricane Florence, (6) an update of the IRS procedure for actions extended due to federally-declared disasters, (7) clarification of how the part-time employee exclusion works under the universal availability rule applicable to section 403(b) plans and transition relief for plans that used alternative interpretations, (8) withholding requirements when IRA assets are transferred to a State’s unclaimed property fund.
    DOL Update
    . (1) civil penalty adjustments for 2019 from the DOL and the PBGC, (2) a DOL opinion on fiduciary responsibilities associated with an auto-portability program designed to match default IRAs with plans of a subsequent employer of the IRA owner.
    PBGC Update. There are no PBGC updates in this issue.
    Litigation Update. (1) a Second Circuit case giving new life to stock drop cases by clarifying the pleading standards when the claims involve nonpublic information with respect to publicly-traded stock, (2) an Eighth Circuit case restricting bankruptcy protection for IRA funds obtained in a divorce settlement, (3) a First Circuit case regarding burden of proof issues surrounding fiduciary breach allegations regarding the use of proprietary mutual funds.
    Miscellaneous Guidance Update.
    There are no Miscellaneous Guidance updates in this issue.
    Order information. To order eRISA Update, click here and follow the instructions to print out an order form. You also may order the latest issue for $75 by completing Part 1 of the newsletter order form, print out the order form and then: (1) fax it (303-265-9100) (only if paying by credit card), or (2) mail your order to the TRI Pension Services address shown above (either with check enclosed or credit card information provided on the order form).

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