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Available through January 8, 2016Speaker: William C. Grossman, ERPA, QPA, APA, GFS, MBA Click HERE for the webcast outline! When the owner of the company calls with a question about rolling over his or her own funds, you really have to know these rules. The...
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Retirement assets of older Americans surged to a new high of $3.5 trillion last year, according to a new report.While retirement savings grew to one third (33.7%) of all household investable assets at $13.9 trillion, retirement assets of consumers age 65 to 74 surged from $2.3 trillion, and now...
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The IRS in Notice 2014-77 has updated the 2014 Cumulative List of Changes in Plan Qualification Requirements. The list is primarily for single-employer individually designed defined benefit plans and single-employer individually designed contribution plans that are in Cycle E to use when they...
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Saving for retirement in a workplace savings plan or IRA is the top long-term financial goal, according to a new survey. More good news: More than one-in-four (42%) said sticking to financial resolutions is easier than sticking to other common resolutions, such as exercising regularly or pledging...
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Legislation working its way through Congress designed to avoid a government shutdown also contains some pension plan provisions.While the driver of the pension agreement is some significant multiemployer pension reforms, the amendment also includes provisions applicable to single-employer pension...
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Are you a BMOC member? If you are a business owner or key decision maker for your firm, you should be. ASPPA’s Business Managers & Owners Council (BMOC) is the new membership option for ASPPA members who are business owners or senior executives of a pension administration or actuarial service...
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New Year’s Eve is the deadline for most 2014 required minimum distributions to be made. The IRS issued that reminder Dec. 8 in news release IR-2014-112. Generally, RMDs from 401(k), 403(b) and 457 plans as well as IRAs must be made by Dec. 31.An IRA trustee must either report the amount of the RMD...
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Rollovers can be an important way to preserve retirement savings and postpone paying taxes on distributions. But do you know which kinds of rollovers can be made to which accounts?The IRS has an updated rollover chart that can help. It’s online here. More information about rollovers, rollover...
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June 30, 2015 is the new deadline for submitting on-cycle applications for opinion and advisory letters for pre-approved defined benefit plans for the plans’ second six-year remedial amendment cycle. The IRS said so in IRS Announcement 2014-41, which it issued on Dec. 5. The announcement also...
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June 30, 2015 is the new deadline for submitting on-cycle applications for opinion and advisory letters for pre-approved defined benefit plans for the plans’ second six-year remedial amendment cycle. The IRS said so in IRS Announcement 2014-41, which it issued on Dec. 5. The announcement also...
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By a large bipartisan majority, the U.S. House of Representatives last week passed tax-extender relief legislation that includes a provision that would affect multiemployer pension plan funding.The legislation, H.R. 5771, the Tax Increase Prevention Act of 2014, was supported by 202 Republicans and...
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January 2015 will mark more than the beginning of a new year — on Jan. 2, a different IRS office will take on technical responsibilities concerning qualified retirement plans and IRAs. The IRS spelled out the chance in Announcement 2014-34.On that date, the IRS Tax Exempt and Government Entities (...
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Even the affluent are “terrified” of the impact of health care costs on retirement — but most haven’t discussed that topic with an advisor.According to an online survey conducted by Harris Poll for the Nationwide Retirement Institute of 801 Americans age 50 or older with at least $150,000 in...
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With time running out on its deadline for providing recommendations, a task force examining alternatives for a possible state-run IRA program in the Old Line State continued to debate the issues.At the Dec. 1, 2014 meeting of the Governor’s Task Force to Ensure Retirement Security for All...
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The Illinois General Assembly has sent legislation to Gov. Pat Quinn (D) that would create the nation's first state-run automatic enrollment payroll deduction IRA program for private sector employers. The Illinois Senate on Dec. 3 approved by a 30-25 margin a version of the bill passed earlier in...
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The Fortune 1000 has reported an estimated $285 billion in retiree medical obligations for 2013 — but that’s better than a year ago, according to a recent report.Towers Watson reports that, according to calculations based on required Securities and Exchange Commission financial disclosures as of...
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Rollovers can be an important way to preserve retirement savings, and postpone paying taxes on distributions.But do you know which kinds of rollovers can be made to which accounts?The IRS has an updated rollover chart that can help. The IRS also provides additional information about rollovers,...
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While it is not unusual for federal agencies to update their planned agenda for new regulations and other guidance periodically, some recent updates the Department of Labor (DOL) announced to its Fall 2014 Regulatory Agenda have drawn heightened interest.Conflicted AdviceOne specific regulatory...
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The IRS has amended the safe harbor explanations provided with eligible rollover distributions to accommodate recent guidance on in-plan Roth rollovers and the allocation of taxable amounts.Notice 2014-74 amends the two safe harbor explanations provided in Notice 2009-68, explanations that are...
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The Pension Benefit Guaranty Corporation (PBGC) on Nov. 24 issued a final rule that makes it easier for defined contribution plan participants to move their funds into defined benefit plans. The PBGC intends the new rule to better facilitate lifetime income. This rule provides guidance on treatment...
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