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News Archive

Timing, it is said, is everything. And the timing of an employee’s retirement, which seems to be a discrete and simple matter, actually is a more delicate dance than one may imagine for future retiree and employer alike. In an April 30 presentation at the Plan Sponsor Council of America’s (PSCA)... READ MORE
Under questioning at a May 1 hearing on Capitol Hill, Secretary of Labor Alexander Acosta appeared to confirm that the Department of Labor will issue a new fiduciary rule.  Acosta appeared before the House Education and Labor Committee for a hearing to examine the policies and priorities of the... READ MORE
The Internal Revenue Service has announced the expansion of areas for issuing determination letters for certain retirement plans. Revenue Procedure 2019-20, issued May 1, details two new issues for which retirement plan sponsors may now request determination letters: Statutory Hybrid Plans – plan... READ MORE
Retirement plan participants spend many years — perhaps an entire career — accumulating savings to support themselves after they retire. But decumulation — actually spending it — can prove to be even harder. In an April 30 session at the Plan Sponsor Council of America’s (PSCA) 2019 annual... READ MORE
American Retirement Association CEO Brian Graff offered his assessment of how things stand in Washington at the on April 30 opening session of the Plan Sponsor Council of America’s (PSCA) 2019 annual conference in Tampa. The PSCA is one of the organizations that comprise the ARA. “There is very... READ MORE
Jack Towarnicky, the Plan Sponsor Council of America’s Executive Director, asserted that “the state of the retirement savings industry remains strong” at an April 30 session at the PSCA's 2019 annual conference in Tampa. Towarnicky presented statistics showing that the number of plans,... READ MORE
Capitol Hill and statehouses, federal and state regulators, bipartisan efforts and gridlock. An expert panel discussed recent developments at the federal and state levels in an April 30 session at the Plan Sponsor Council of America’s 2019 annual conference in Tampa. Panelists included Will Hansen... READ MORE
The U.S. Senate has confirmed Gordon Hartogensis as head of the Pension Benefit Guaranty Corporation. He will replace W. Thomas Reeder, Jr., who has served as director of the PBGC since October 2015. The full Senate approved Hartogensis’s nomination April 30 by a vote of 72-27. After being... READ MORE
Creating a plan for retirement can lead to a greater sense of confidence and control, but a new study suggests that a surprising percentage of the general population hasn’t even considered doing so. In fact, while many say they’ve “thought about it,” only 18% of respondents have created a... READ MORE
Plan sponsors and service providers already take seriously their responsibilities to protect participant data, but where are the lines of responsibilities and accountability in the event of a breach? That was the focus of a workshop at the Plan Sponsor Council of America’s 2019 National Conference... READ MORE
Lawsuits have been filed concerning several large corporate pension plans. While those suits involve specific plans, a recent blog entry argues that they have broader implications. In “The Defined Benefit (DB) Lawsuits: Why There May Be Widespread Implications,” a recent entry in Cammack... READ MORE
Over the past decade and change, there have been a number of high-profile excessive fee suits brought against retirement plan fiduciaries, notably the plan committees that oversee these programs. Here’s what your plan committee members should know. 1. Why they are a member of the committee. Today... READ MORE
If your workforce includes recent college graduates, it’s likely that some of them have debt associated with their college years. Student debt may play a large part in the finances of these young (and even not-so-young) employees; that’s why a complete picture of employee financial wellness should... READ MORE
Federal scrutiny is a possibility that virtually all plans face — a fact of life that TPAs need to recognize and prepare for. An April 23 ASPPA webinar addressed such investigations. In “IRS Audits and DOL Investigations of Plans and TPAs.” Fred Reish, a partner at Drinker Biddle & Reath,... READ MORE
The Treasury Department and the IRS welcome comments about what should be included in their 2019-2020 Priority Guidance Plan. The plan will identify guidance projects that the Treasury and the IRS intend to work on during the 12-month period from July 2019 to July 2020. They made the announcement... READ MORE
The pressure to live a secure retirement has led to some counterintuitive views about just what will help workers get themselves there.  While 66% of American workers are still planning to supplement their personal savings with income from Social Security, 42% also don’t believe Social Security... READ MORE
ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events. Live Webcasts  ASPPA Webcast: Second Quarter 2019 Washington UpdateWednesday, May 22, 2019 2:00–2:50 p.m. ET Speaker: Bob Kaplan, Director of Technical... READ MORE
Pension plan funding, a perennial issue, was on the rebound as the recovery from the Great Recession took hold, but recent volatility in the financial markets compromised that improvement for many plans. A recent paper argues that one of the keys to buttressing a pension plan’s funding lies in its... READ MORE
Plan fiduciaries and retirement plan committees would do well to consider the trends in the ways that retirement plan funds are invested and the behaviors and attitudes of plan participants, recommends a recent analysis. In “Emerging Trends in 401(k) and 403(b) Fund Menus,” a post on Greenspring... READ MORE
It’s said that change is good – and, according to new research, that also applies to 401(k) investment menus. A new report from Morningstar Research finds “evidence that fund replacements provide significantly higher risk-adjusted returns than the funds that were replaced,” going on to state that... READ MORE