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July 1 is the registration deadline for the next wave of employers for the Illinois Secure Choice Savings Program, a retirement savings vehicle for private sector employees in Illinois who do not have access to an employer-sponsored plan. Employers with 100-499 employees must register with the... READ MORE
The July 31, 2019 deadline for most employee benefits plans that must file the Form 5500 for reporting about 2018 is fast approaching. So the June 20 ASPPA Webcast, “Form 5500 Update,” was a well-timed reminder regarding changes that affect the form and its use and filing. Presenter Stephen Forbes... READ MORE
How do your clients’ participants envision their retirements? Are they riding astride unicorns on cotton candy tufts of cloud? Or are they Sisyphus, endlessly pushing to an idyllic summit they’ll never reach? A recent blog entry outlines five myths concerning retirement planning that may help plan... READ MORE
A recent headline screamed that 401(k) savings rates have “stagnated” – but that’s missing the point. “Stagnated” in this case apparently means that the average savings rate in 2018 — both employee and employer contributions — was 10.6%, roughly the same as the 10.4% rate reported in the survey in... READ MORE
Ever wonder what would happen in a world without defined contribution plans? Or a world in which everyone had one? A new study by the Employee Benefit Research Institute examines what impact these scenarios would have on retirement income adequacy. In recent years, various policy proposals have... READ MORE
The House Ways & Means Committee has voted to extend a vast array of individual and corporate tax provisions, including special disaster-related rules for use of retirement funds. Disaster Relief Assistance The Committee late June 20 approved the Taxpayer Certainty and Disaster Tax Relief Act... READ MORE
Nominations are now being accepted for ASPPA’s 2020 Leadership Council. Elected at-large members of the Leadership Council serve for one term of four calendar years. Nominees must be credentialed ASPPA members nominated by at least two members to be considered. Submit a nomination today! To... READ MORE
Compliance is serious business and audits of an employee benefit program are no joke. But the mere fact that one is scheduled need not spell imminent doom. As a recent blog entry points out, there are steps one can take to be ready — and, in the process, better ensure that the plan is in compliance... READ MORE
A plan sponsor fiduciary won their case in court, refuting allegations that they should have removed a fund from the plan’s investment menu. The plaintiff in this case was Marc J. Muri, an employee of National Indemnity, an insurance provider located in Omaha, Nebraska, and a participant in... READ MORE
The IRS on June 17 issued a third quarter update of its 2018-2019 Priority Guidance Plan. As in such previous such plans, retirement benefits are among the many areas in which the IRS plans to take action. In the update, the IRS also reports on progress in projects it has listed in the plan.The ‘To... READ MORE
The American Retirement Association, as well as a broad coalition of groups and associations, on June 18 sent a letter to the Senate expressing their support for the Setting Every Community Up for Retirement (SECURE) Act.The House passed the measure on May 23 by an overwhelming margin of 417-3. The... READ MORE
Editor’s Note: This is the second in a two-part series about creating and managing retirement plan committees. Part 1 is here. Fiduciary duties and fulfilling them includes managing the investment of plan assets — and one of the tools for accomplishing that is the investment committee. Investment... READ MORE
Not wasting any time, the Garden State has announced that it will hold a July 17 hearing in connection with its proposed new fiduciary standards. According to an announcement in the New Jersey Register, the Bureau of Securities also simultaneously announced that it is extending the comment period... READ MORE
Nominations are now being accepted for American Retirement Association’s 2020 Board of Directors. Elected at-large members of the Board of Directors serve for one term of three calendar years. Nominees must be nominated by at least two members to be considered. To view the nomination form, click... READ MORE
Defined contribution plans are practically ubiquitous. But like most things that are common, the mere fact that they are does not necessarily mean that comprehension of investing the funds they contain is. A recently released research paper discusses the problem posed by poor financial literacy and... READ MORE
A new study suggests that employers that focus on the financial well-being of their workers have a significant opportunity to improve employees’ financial health, while also benefiting their business.   Conducted by the Financial Health Network on behalf of Morgan Stanley at Work, the survey of 1,... READ MORE
Please hold on to the bar. That’s sound advice when seated in an amusement park thrill ride. But a recent blog entry suggests that the maxim is applicable to how a plan fiduciary approaches how participants invest their funds amid the vagaries of market volatility. The rises and falls in the... READ MORE
Consistent with prior input from the American Retirement Association, New Jersey correctly excluded ERISA plan fiduciaries from the application of its proposed new fiduciary standards. In a June 14 comment letter, the ARA – parent organization of the ASPPA/NTSA – expressed support for the proposed... READ MORE
An excessive fee suit has been granted class action status in federal court. This time it’s a group of former participants in the JPMorgan Chase 401(k) Savings Plan, a plan that has approximately 266,000 to 300,000 participants and more than $14 billion in assets. Suit ‘Case’ In considering the... READ MORE
Editor’s Note: This is the first of a two-part series about establishing and managing retirement plan committees. The last 10-plus years have brought into sharp relief the importance of fiduciary duties and fulfilling them as ERISA requires. Offering a retirement plan has many moving parts, and... READ MORE

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