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After enduring one of the worst stock markets in decades, health savings account (HSA) investment assets have grown rapidly, according to Devenir’s 2023 mid-year HSA market survey report.  As part of its 26th semi-annual HSA survey, Devenir reports that, at the mid-point of 2023, $116 billion in... READ MORE
Given that we are in the midst of what I tell everyone is an intense deadline, I will keep my introduction to the articles brief so we can get back to Forms 5500. Our first article is from Robert Mitchell of the Benefit Consulting Group, and concerns disaster delays. Quite a few of us were on the... READ MORE
September Episode Description: In personal branding, we’re encouraged to be authentic and diverse but then criticized when we open up, making us wonder—what does the world really want from us? How can we express ourselves in a way that we’re comfortable with, that’s “real and true,” but not... READ MORE
Tom Finnegan, the inaugural President of the American Retirement Association (ARA), passing in August has left ASEA members to reflect on his unparalleled contributions to our industry. Finnegan was a leader, cherished friend, and colleague to many within the ARA and the broader industry. Finnegan... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) has made some changes to the instructions for plans paying premiums for plan years beginning in 2023, including instructions for each data element that must be reported. The filing requirements for 2023 are almost identical to those for 2022.... READ MORE
Of course, laws and regulations, as well as fiduciary duty, spell responsibilities that must be fulfilled. But sometimes what one does not do is as important as what one does, an industry expert reminds.  It is helpful to not only know what to do but also what to avoid, argues Mark Olsen, Managing... READ MORE
So many factors are in play in running a practice and serving clients—and mental health is  fundamental to doing both effectively.  In “‘Holding’ Pattern: Is Mental Health Holding You Back?,” a session at the 2023 NTSA Summit, Eric Jenkins, LCSW/Therapist at Willow Pines Therapeutic Services,... READ MORE
The IRS on Sept. 13 issued guidance on exceptions from the electronic filing requirements for certain filers of Forms 8955-SSA and 5500-EZ. The guidance comes in Revenue Procedure (Rev. Proc.) 2023-31.  Rev. Proc. 2023-31 supersedes Rev. Proc. 2015-47, 2015-39 IRB 419 regarding the following forms... READ MORE
Natural disasters disrupt normal business activity. The IRS makes timely notice to taxpayers of areas eligible for relief after disasters such as Hurricane Idalia and other recent events (see sidebar). Herein, we trace some of the regulatory language and published guidance from the IRS on disasters... READ MORE
Plaintiffs have had their appeal of a district court’s dismissal of their excessive fee suit rejected by the appellate court. Appellants Cole Matney and Paul Watts[1]—participants in the Barrick Gold 401(k) plan—filed suit against Barrick Gold of North America, Inc., Barrick Gold’s Board of... READ MORE