News Archive

*/ UPDATE, MARCH 14: The provision described below was subsequently withdrawn. For more on that development, click here. The Connecticut Retirement Security Board has taken another step forward with its implementation plan by introducing legislation creating the Connecticut Retirement Security... READ MORE

A lawsuit brought against the IRS over its handling of a company’s application to fix errors under the agency’s Voluntary Compliance Program (VCP) is advancing.According to Bloomberg BNA, U.S. District Court for the District of Columbia Judge Richard J. Leon on March 2 in Information Systems and... READ MORE

Standard & Poors reported on March 3 that pension funding for the S&P 1500 and S&P 500 fell in February. But there was some good news: the drop was much less than during the previous month.Companies in the S&P 1500 saw their pension funding drop by 1% in February to 78%; funding for... READ MORE

It may be worth considering a review of hybrid plans to make sure they are in compliance with the final rules the IRS issued late in 2015. The IRS issued the rules in November.Towers Watson in its Feb. 19 Insider provides an early reminder that plans have until New Year’s Eve this year to make any... READ MORE

Another testing season has come and gone, and it is time for ASPPA’s IRS Q&A Subcommittee to start gathering questions. Did you and your colleagues come across a brain-teaser of a situation while doing testing? Are you facing a conundrum on a last minute or delinquent PPA restatement?Chances... READ MORE

Even as the publication of the Department of Labor’s (DOL) fiduciary rule nears, the GOP is gearing up to undermine the funding for its implementation.House Republican leaders are urging rank-and-file GOP lawmakers to back a budget resolution that provides $1.07 trillion in discretionary spending... READ MORE

Add to the list of plan fiduciary concerns, cyber-related threats to plan assets and participant personal information.These days much of that information lies in the hands (or, more accurately, the computers) of recordkeepers and third-party administrators (TPAs), though an analysis by attorneys at... READ MORE

The Department of Labor (DOL) is planning to study how retirement planning strategies and decisions evolve — and it would like to know what you think about the effort.The DOL’s Employee Benefit Security Administration (EBSA) is soliciting comments on the usefulness of a forthcoming information... READ MORE

Does a participant who made an early retirement decision based on a plan administrator’s errant benefit projection have a cause of action? Well, as a recent decision details, it can depend on what they claim — and when.In Lebahn v. Owens, No. 14-3244 (10th Cir. 2016), Trent Lebahn, a sales manager... READ MORE