Comments:

On June 15, 2009 ASPPA submitted comments to the Department of Labor requesting greater clarity on the exemption from ERISA for certain 403(b) arrangements in light of the final IRS regulations pertaining to 403(b) plans. [Comment]

On June 15, 2009, ASPPA submitted comments to the Department of Labor proposing a self-correction component be added to the Voluntary Fiduciary Correction Program for the late deposit of employee contributions. [Comment]

Testimony:

On June 18, 2009, Mark Wayne, President of Freedom One Investment Advisers, testified on behalf of NAIRPA before a joint hearing held by the Securities and Exchange Commission and the Department of Labor on current issues related to the use of Target Date Funds as 401(k) investments. [Testimony]

On April 22, 2009, Julian Onorato testified on behalf of ASPPA, CIKR and NAIRPA before the House Committee on Education and Labor Subcommittee on Health, Employment, Labor, and Pensions on issues relating to 401(k) fee disclosure addressed in the 401(k) Fair Disclosure for Retirement Security Act of 2009. [Testimony][Fiduciary Disclosure][Participant Disclosure] 

Legslative: 

On June 18, 2009, Senators Kent Conrad (D-ND) and Pat Roberts (R-KS) introduced the Retirement Security for Life Act.  [S. 1297]

On June 9, 2009, Rep. Richard Neal (D-MA) introduced the Defined Contribution Plan Fee Transparency Act of 2009.  [HR 2779]

Regulatory:

On April 30, 2009, PBGC issued Technical Update 09-3 providing missed quarterly contribution reporting relief to small plans. [PBGC Technical Update 09-3] 

On April 6, 2009, the IRS issued Notice 2009-22 providing interim rules regarding asset valuation methods that are permitted to be used by single employer defined benefit pension plans for minimum funding purposes pursuant to changes made by the Worker, Retiree, and Employer Recovery Act of 2008. [Notice 2009-22]