Fulcrum Partners Announces NQ Connect During Wealth + Retirement EVOLVE National Conference
Fulcrum Partners team announces NQ Connect at the Wealth + Retirement EVOLVE National Conference.
Nasdaq Board Diversity Quotas Challenged
Earlier this month, the SEC approved the new Nasdaq Board Diversity Quota requirement. Now the requirement is being questioned in court, following a petition for review filed in the U.S. Court of Appeals.
Celebrating Labor Day Weekend 2021
The team at Fulcrum Partners, a OneDigital Company, hopes you have found the race you want to run in life and that you are well on your way, working toward your win. We’re here to help you finish strong. Warm wishes for a great Labor Day Weekend 2021.
Checklist of September Plan Deadlines for Retirement, Medical, and Other Plans
Fulcrum Partners is pleased to share the following report, prepared by the Employee Benefits group at Isler Dare PC: Checklist of September Plan Deadlines for Retirement, Medical, and Other Plans. You can read the full report as a PDF here.
APIs to Increase Access to Financial Disclosure Data
New APIs (Application Programming Interfaces) from the SEC will make the financial disclosure data of EDGAR® companies more readily accessible to the public, which could accelerate stakeholder and consumer scrutiny of key topics including executive pay.
Correct Retirement Plan Operational Failures and Other Issues
The IRS recently made significant changes to its comprehensive guidelines on how retirement plans can correct operational and other failures. On July 16, 2021, the Internal Revenue Service (the IRS) released Rev. Proc. 2021-30, reflecting important changes to the Employee Plans Compliance Resolution System (the EPCRS) that the IRS previously established for correcting errors in tax-qualified retirement plans.
DOL Cybersecurity Guidance and Audit Initiative
The U.S. Department of Labor (DOL) recently issued cybersecurity guidance for retirement plans for the first time, which consisted of the following: (i) Cybersecurity Program Best Practices; (ii) Tips for Hiring a Service Provider; and (iii) Online Security Tips. The DOL has already started reviewing the cybersecurity programs of ERISA plan sponsors and fiduciaries as part of a new audit initiative.
This newsletter provides highlights of the DOL’s cybersecurity guidance and audit initiative, and provides recommended next steps for plan sponsors and fiduciaries in light of the uptick in cybersecurity inquiries by the DOL and recent incidences involving cybersecurity breaches of benefit plan data.
The New Diversity in the Boardroom Requirement
The Securities and Exchange Commission (SEC) approved a proposal by Nasdaq related to a new diversity in the boardroom requirement.
DOL Releases Clarifications About Lifetime Income Illustrations
Late last month, the Employee Benefits Security Administration (EBSA) of the Department of Labor, issued answers regarding the timing of when plan sponsors are required to include lifetime income illustrations on plan participant’s retirement statements. This guidance applies to defined contribution plans only.
Fulcrum Partners Publishes Report on Nonqualified Plan Financing
Fulcrum Partners, a OneDigital Company, has published, “Nonqualified Plan Financing: One Size Does Not Fit All”. The report looks at strategies an organization may elect to use if it chooses to fund its nonqualified deferred compensation (NQDC) plan.