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Five Senate Finance Committee members are asking Treasury Secretary Jack Lew for some retirement plan relief.The letter — signed by Senate Finance Committee Chairman Ron Wyden (D-Ore.) and Sens. Debbie Stabenow (D-Mich.), Ben Cardin (D-Md.), Sherrod Brown (D-Ohio) and Bill Nelson (D-Fla.) — cites...
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Just when plan administrators were beginning to feel comfortable with their procedures for participant benefit statements, changes are in the offing. The Department of Labor’s most recent guidance plan includes a listing for a proposed regulation due out in January 2015. This proposal is expected...
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ASPPA’s new Business Managers and Owners Council (BMOC) is off to a great start based on the interest generated at the recent ASPPA annual conference. In case you missed it, BMOC is the new membership option for ASPPA members who are either owners or senior executives of a pension administration or...
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When the 113th Congress wraps up in December, it won’t have much to show for its term. Will the 114th Congress that convenes in January be any different? Will Congress use retirement savings as its own piggy bank, or can we hope for something better? Might there even be real progress in expanding...
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The Pension Benefit Guaranty Corporation (PBGC) on Nov. 17 released its 2014 annual report, which had good news and bad news for the agency that protects pension benefits for millions of Americans in private-sector pension plans.The good news: the deficit of the PBGC’s single-employer program,...
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While small business owners (SBOs) acknowledge the importance of preparing for retirement, a new survey discusses how they find out about retirement.And while setting money aside into savings or investments was cited as a primary source by just over three-fourths SBO respondents, only 45% cited...
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The Internal Revenue Service is reminding low- and moderate-income workers about an opportunity to earn a special tax credit while they save for retirement.The IRS notes that the Saver’s Credit helps offset part of the first $2,000 that workers voluntarily contribute to IRAs and 401(k) plans and...
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As industry consolidation continues apace, the universe of 401(k) plan providers for employers is shrinking. But that doesn’t necessarily mean that competition among the providers is correspondingly reduced. Workforce Online reports that the remaining providers are offering more services as a...
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Updated mortality assumptions for participants and beneficiaries in private-sector defined benefit plans have been issued by the Society of Actuaries (SOA). The updates are contained in its Mortality Improvement Scale MP-20141 Report, along with its companion document, the RP-2014 Mortality Tables...
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The IRS issued a clarification Nov. 10 on the application of the one-per-year limit on IRA rollovers. In Announcement 2014-32, the IRS said it had received comments about the “administrative challenges presented by the Bobrow interpretation of §408(d)(3)(B).” In the announcement the IRS...
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Having regained their Senate majority and deepened their hold on the House, the GOP — with a wary eye on the 2016 elections — may be ready to deal. In a recent webcast (note: you must be logged in as an ASPPA member to view this page), ASPPA Executive Director Brian Graff and Political Director Jim...
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Having regained their Senate majority and deepened their hold on the House, the GOP — with a wary eye on the 2016 elections — may be ready to deal.In a recent webcast, ASPPA Executive Director Brian Graff and Political Director Jim Dornan discussed the shifts in power in the Nation’s Capital and...
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Having regained their Senate majority and deepened their hold on the House, the GOP — with a wary eye on the 2016 elections — may be ready to deal.In a recent webcast, ASPPA Executive Director Brian Graff and Political Director Jim Dornan discussed the shifts in power in the Nation’s Capital and...
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Having regained their Senate majority and deepened their hold on the House, the GOP — with a wary eye on the 2016 elections — may be ready to deal.In a recent webcast, ASPPA Executive Director Brian Graff and Political Director Jim Dornan discussed the shifts in power in the Nation’s Capital and...
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Available through December 16, 2014Speaker: Gregory Fowler, QPA, AIF®, National Benefit Services, LLC and Pam Perdue, Esq., Summers Compton & Wells, LLC Click HERE for the webcast outline!This webcast will walk you through the steps to complete a VCP for...
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Available through December 9, 2015Speaker: Lauren R. Okum, ASA, EA, MAAA, MSPA; Premier Actuarial Solutions Click here to view the webcast outline!PBGC requirements, IRS determination letters, calculations, and procedures present an ongoing challenge...
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They say that real estate is all about “location, location, location.” But could location be a factor in retirement plan participation as well?Apparently so, according to a new report by the Employee Benefit Research Institute (EBRI). It notes that, not only do workers’ demographic characteristics...
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The ERISA Advisory Council has now made its final recommendations of 2014, and got an update on regulatory proposals in return.On Nov. 4, the DOL’s ERISA Advisory Council followed up on its August meetings with the presentation of this year’s final recommendations to secretary of labor Tom Perez...
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We hear a lot about how well Americans are saving — or not — for their retirement. In that spirit, Legg Mason Global Asset Management has unveiled EZ IRA, a payroll deduction IRA program intended to provide a way to build that savings rate. “Hopefully — and I truly believe this — this is just the...
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ASPPA, NAPA and NTSA submitted a joint letter Nov. 3 to the Connecticut Retirement Security Board (CRSB) in response to the board’s request for public comment in order to help the CSRB develop and implement a state-run plan for employees of private employers. In the letter, the three sister...
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