Advertisement
News Archive
The Pension Benefit Guaranty Corporation (PBGC) announced on Nov. 9 that it has updated the ERISA Section 4044 mortality table for 2024 valuations.
How the Tables Are Used
ERISA Section 4044 Mortality Table. This table is used:
to determine liabilities and the value of annuities when a single...
READ MORE
The IRS has updated the information on its website to indicate that beginning Jan. 1, 2024, Form 5558, Application for Extension of Time to File Certain Employee Plan Returns and its instructions, can be filed electronically or on paper.
The American Retirement Association (ARA) in a Dec. 5, 2022...
READ MORE
The Pension Benefit Guaranty Corporation (PBGC) on Nov. 7 issued a final rule to clarify the calculation methodology for the withdrawal liability condition requiring phase-in of special financial assistance (SFA) assets. On Nov. 1 it had issued updated instructions for multiemployer plans in...
READ MORE
The Department of Labor (DOL) on Halloween issued the latest iteration of a proposed rule defining who is an investment advice fiduciary for purposes of ERISA. As the initial dust settles, officials from the DOL’s Employee Benefits Security Administration (EBSA) have offered some further insights...
READ MORE
Much-anticipated regulations are perhaps closer than just on the horizon, officials from the IRS and the Department of Labor (DOL) reported in a Nov. 6 session of the SPARK Forum.
LTPT Guidance
In the wake of the enactment of the SECURE 2.0 Act, the Treasury Department worked on guidance...
READ MORE
We wrote in August about a system error that resulted in a significant number of plan sponsors receiving erroneous penalty notifications related to Form 8955-SSA. After raising the issue with the service, they sent a newsletter informing sponsors that no action was needed for anyone who received...
READ MORE
At an elaborate White House ceremony on October 31, President Biden unveiled the Department of Labor’s long-awaited proposed retirement security rule. The proposal is, among other things, another attempt by the Employee Benefits Security Administration (EBSA) to update the 1975 regulatory...
READ MORE
The Department of Labor’s (DOL) proposed rule defining who is an investment advice fiduciary for purposes of the Employee Retirement Income Security Act (ERISA) has now been officially published in the Federal Register.
The DOL also published Nov. 3 the proposed amendments to Prohibited...
READ MORE
A formal, written plan (FWP) for managing income, expenses, and assets in retirement is fundamentally a tool that heightens financial security and clarifies what needs to be done in running an account. But it’s more than that, as an industry experts outline.
The proportion of Americans completing...
READ MORE
The SECURE 2.0 Act marked a significant step towards enabling more small business owners to offer retirement savings plans, yet 65% still don’t offer one to their employees.
To better understand their motivations and challenges, the Capital Group, in partnership with data analytics firm Escalent...
READ MORE
Funding of private-sector defined benefit plans has been a rising tide. But why? And what does it mean? Two industry experts offer their insights in a deeper dive.
The State of Things
“Funding levels for private sector pension plans are very healthy—most plans are fully funded or overfunded at...
READ MORE
Halloween is the time of year when one’s thoughts turn to trick-or-treat, ghosts and goblins, and things that go bump in the night. But what keeps—or should keep—plan fiduciaries up at night?
Well, there are the things like…
Re-enrollment
Automatic enrollment has long been shown to transform...
READ MORE
The Delaware EARNS Program Board is considering cooperation with the state-run retirement plans serving private-sector employees in Maine and Colorado, Elizabeth Bordowitz, Executive Director of the Maine Retirement Investment Trust, has confirmed.
Ted Griffith, Program Director of Delaware EARNS...
READ MORE
While it may come as no surprise, the sooner Congress implements reforms to the Social Security system, the lesser the impact might be on beneficiaries; but the closer it gets to 2034, when the trust fund reserves are estimated to be depleted, the more the options become limited—and potentially...
READ MORE
Not long after the wildfires in Lahaina, Maui destroyed more than 2,000 buildings and caused billions of dollars in damages, a delegation of Hawaii lawmakers introduced legislation to significantly expand the disaster relief provisions contained in the SECURE 2.0 Act.
Rep. Jill Tokuda (D-HI) and...
READ MORE
The IRS has just announced the new contribution and benefit limits for 2024 and—reflecting the moderating inflation readings, the increases are modest.
The headline is that next year the amount individuals can contribute to their 401(k) plans (not to mention 403(b) and most 457 plans, as well as...
READ MORE
Morningstar’s 7th annual landscape study on health savings accounts (HSAs) available to individuals shows continued industry improvement, even though persistent issues with transparency and fees remain.
The study evaluated 10 of the top HSA providers on two different use cases[JI1]: (1) as...
READ MORE
It will ensure that advice given to plan sponsors with respect to plan investments under any and all circumstances is required to comply with the fiduciary standards of ERISA.
The mission of the American Retirement Association—since it was founded in 1966—is to expand and strengthen the employer-...
READ MORE
As anticipated, the Department of Labor (DOL) has released a proposed rule defining who is an investment advice fiduciary for purposes of the Employee Retirement Income Security Act (ERISA).
The proposed rule, announced during a White House ceremony attended by President Biden on the afternoon of...
READ MORE
Ahead of today’s anticipated rollout of a new fiduciary rule, the Biden Administration has issued a fact sheet previewing its content—including an issue of long concern to the American Retirement Association.
The fact sheet focuses on the issue of conflicted advice, specifically calling out what...
READ MORE