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Traditional pension plans are still present, but shrinking — particularly in the private sector. What will fill that void? A recent column argues that the 401(k) can fill the void the decline of the DB plan creates, and then some. In “401(k)s Can Fill the Pension Gap,” American Enterprise... READ MORE
On June 27, 2019, the Pension Benefit Guaranty Corporation (PBGC) published proposed regulations that cover a variety of corrections, clarifications and improvements. These are now open to public comment, with comments accepted up to Aug. 26, 2019. The ACOPA Government Affairs Committee will be... READ MORE
The value of ACOPA for pension actuaries was on display during the recent Government Affairs Committee (GAC) meetings in Washington, D.C. Through GAC activities, ACOPA actuaries have the ability to provide input to governmental agencies and staffers of senators and members of the House of... READ MORE
Our industry has long disparaged the apparent “overindulgence”1 of participants in the stock of their employer as a retirement investment. However, for plan fiduciaries – and those who advise them – there may be a more pressing concern. Anyone who has been paying attention to 401(k) plan... READ MORE
The 2019 ACOPA Symposium will be held in Chicago on Aug. 9-10. The 2019 Symposium is the 14th such event, almost all of which have been held in Chicago. (I can think of few cities in this country I’d rather visit in the summer than Chicago!) The first Symposium was held on Aug. 18-19, 2006; as... READ MORE
New reports indicate that retirement assets and investment options are growing, and that Americans are feeling optimistic and yet also overwhelmed about finances. Retirement Assets Grow Since the end of last year, total U.S. retirement assets were up 7.4%, reaching $29.1 trillion at the end of... READ MORE
  It’s not too late. Not too late for what, you ask? Not too late to sign up for the 2019 ACOPA Symposium. This year’s symposium will be held on Aug. 9-10 at the Doubletree by Hilton in Chicago. Regular registration ends Aug. 2, so time is running out fast.  As in the past, this year’s symposium... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) on June 26  proposed a rule that would make a variety of clarifications, corrections and improvements to four of its regulations. The proposed rule is based on the PBGC’s ongoing efforts to review the effectiveness and clarity of its rules and input... READ MORE
CalSavers, the state-run retirement plan for private-sector employees in the Golden State whose employers do not offer a retirement plan, will be formally launched on July 1. State Treasurer Fiona Ma and former Sen. Kevin de León (D) will launch CalSavers at a ceremony at the State Treasurer’s... READ MORE
ASPPA and PenChecks Trust Company of America are pleased to announce the opening of applications for the QKA Scholarship Program for ASPPA’s Qualified 401(k) Administrator (QKA) credential program. Launched in 2014, the PenChecks Trust ASPPA QKA Scholarship will again be offered this year to... READ MORE
Ascensus is acquiring HR Simplified, a TPA that performs a variety of benefits administration functions, including offering health savings accounts and benefit continuation services. In a June 26 press release, Ascensus President David Musto hailed the agreement and the firm they have added to... READ MORE
Making it possible for participants to take a loan from their retirement accounts is a common plan feature. But it also is not unusual for mistakes to be made concerning those loans. A recent article, as well as the IRS, offer some suggestions regarding how to identify and fix them, as well as... READ MORE
While it’s not precisely robbing Peter to pay Paul, a new legislative proposal purports to pay off all student loan debt – with proceeds from a tax that will hit retirement savings. First touted as an effort to limit speculative trading, the so-called financial transaction tax is now being... READ MORE
President Trump on June 21 named seven new members to the Pension Benefit Guaranty Corporation’s (PBGC) Advisory Committee. The PBGC Advisory Committee is a body appointed by the president that represents the interests of labor, employers and the public. Its duties under ERISA include providing... READ MORE
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