
Tag: cash balance plans


SECURE 2.0 Changes Backloading Test for Cash Balance Plans
The retirement reform legislation requires interest credits to be “reasonable” and no higher than 6%.

Cash Balance Plans More Popular With Smaller Plan Sponsors
An analysis from October Three also finds certain industries are more drawn to the plan design that is viewed as...
Court Agrees Colgate-Palmolive Miscalculated Cash Balance Benefit Payments
A court ordered Colgate-Palmolive to recalculate benefits paid to certain retirees from its cash balance plan but stayed the relief to allow time for an appeal.
Cash Balance Plans On Pause Among Small Businesses
For cash balance plans that were left unfrozen, small business employers may have been able to utilize a PPP loan to fund it.
Is the 20-Year-Old Amara v. CIGNA Case Finally Done?
A court disagreed with plaintiffs that CIGNA was not following orders when calculating remedies in the case, and the court has now denied a review of that decision.
CIGNA Cash Balance Participants Say Company Is Not Following Court Orders
Plaintiffs in the long-standing Amara v. CIGNA case say the company is using alternative methods than what a court ordered to calculate cash balance plan benefits that would take...
TPA Announces Cash Balance and DB Plan Administration Fees
Steidle Pension Solutions, LLC (SPS) announced that plan sponsors using SPS administration and actuarial services will pay only $1,200 for full-service administration, and its plan document restatement fee...
2018 Practice Development: A Look at New Revenue Streams
This year, the Practice Development column in PLANADVISER print explored various ways retirement plan advisers can expand their practices beyond 401(k)s, with the goals of adding new revenue...

Cash Balance Plan Clients Need Specialized Administrative Systems
Cash balance plan participants expect the same service and information from their pension plan as from a defined contribution (DC)...
MetLife Pension Calculations Questioned in ERISA Complaint
The complaint suggests MetLife is failing to meet its obligations to ensure different annuity options offered to pension plan participants are actuarially equivalent default benefit, as required under...

Practice Development
Cash Balance Plans on the Rise
As participants approach retirement, the plans let them “turbo-charge their saving.”
New Cash Balance Retirement Plans Increase 15%
Employers have boosted their contributions by 30%, a Kravitz report finds.
How to Abide By the Rules When Amending a Cash Balance Plan Interest Crediting Rate
Internal Revenue Code (IRC) Section 411(d)(6) provides that an accrued benefit may not be decreased by amendment.
Different Cash Balance Plan Interest Crediting Rates Can Lead to Different Results
October Three analyzes five different interest crediting rates used by cash balance plans and how they affect funding and participant benefits.
Reaching New Markets: Cash Balance Strategic Plan Terminations
“What actually is a strategic plan termination?” This is a question Dan Kravitz hears quite a lot from both defined benefit plan sponsors and retirement specialist advisers.
4th Circuit Agrees Bank of America Cash Balance Participants Are Not Due More Relief
The appellate court found Bank of America did not profit from transferring participants' 401(k) accounts to a cash balance plans and noted that previously the bank entered into...

micro scope
Professional Groups
Owners’ concerns are saving enough for retirement and reducing their tax liabilities