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By Ray Harmon7/31/2014 • 0 Comments

The U.S. Senate passed legislation July 29 to fund the nation’s Highway Trust Fund — legislation that does not include a pension smoothing provision. The vote tally on the $8.1 billion bill was 79-18. READ MORE

By John Iekel7/28/2014 • 0 Comments

Is the Form 5500 worth filling out and filing in the first place? Not everyone is convinced, reports Benefitspro. But file they must, and the Government Accountability Office (GAO) has come to the rescue, offering suggestions in its recent report, “Private Pensions: Targeted Revisions Could Improve Usefulness of Form 5500 Information” regarding how the form could be made more useful. READ MORE

By John Iekel 7/28/2014 • 0 Comments

Plan participants take money out of their 401(k)s prematurely for different reasons — such as plan loans and hardship withdrawals. But the biggest driver of leakage, according to the Employee Benefit Research Institute (EBRI), is cashing out when changing jobs.  READ MORE

By Judy Miller7/28/2014 • 0 Comments

Recently, in the review process for determination letter applications, the IRS has taken issue with “412(d)(2)” plan amendments. Some plan sponsors have been told by IRS reviewers that the amendments were not permissible if adopted after the close of the plan year, and that a closing agreement would be necessary to avoid disqualification. ASPPA and ACOPA sent a letter to IRS on June 9, 2014, expressing disagreement with the position being taken as contrary to the clear statutory language of IRC Section 412(d)(2). READ MORE

By John Iekel 7/25/2014 • 0 Comments

It’s easy for inertia to take over when financial decisions have to be made, especially when it comes to investment choices in a 401(k) plan. In “Using Re-enrollment to Improve Participant Investing and Provide Fiduciary Protections,” a white paper prepared for JP Morgan Chase & Co., Fred Reish and Bruce Ashton discuss one solution — re-enrollment, or requiring participants to re-invest in the plan by making new decisions about how the funds in their retirement accounts are invested.
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By John Iekel 7/24/2014 • 0 Comments

This year’s ASPPA Annual Conference features a new opportunity for business leaders to network, discuss best practices and meet with peers. We’ve just added a reception for business leaders to the conference program, providing an event at which you can interact with others who share your interests and concerns. The reception will be sponsored by PensionPro Software, LLC.
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By John Iekel 7/24/2014 • 0 Comments

Is Washington obsessed with rollovers? ASPPA Executive Director and CEO Brian Graff thinks so. “There’s no one who doesn’t care about this issue. There is an obsession with the rollover issue in D.C.,” said Graff in the July 22 webinar, “Washington Update: Rollovers, Rollovers, Rollovers — it’s All About Rollovers.” He and ASPPA Director of Government Affairs Ron Triche discussed the ways in which rollovers are front-and-center on the federal radar screen. 
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