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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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The Government Accountability Office (GAO) in a recent report has highlighted one of the ways public- and private-sector deferred benefit plans differ — valuation. “Pension Plan Valuation: Views on Using Multiple Measures to Offer a More Complete Financial Picture” outlines and discusses these...
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Though I’ve now spent more than three decades working with employment-based benefit plans, I’ve also worked for some very different employers, ranging from organizations that employed tens of thousands of workers to those that were a fraction of that size. Those organizations were all very...
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Available through December 4, 2015Speaker: Mark Turner, Vice President, Security Benefit Complimentary for all NTSA members!!!Click HERE for the webcast outline! As an independent advisor or plan consultant, governmental and education plans offer an expanded...
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Available through December 3, 2015Speaker: Michael P. Coyne, J.D., Waldheger Coyne, A Legal Professional Association Click here to view the webcast outline! Recent changes in Circular 230 have put a new emphasis on supervision and the importance of ethical...
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Available through November 19, 2015Speaker: Leonard J. Witman, Esq.; President, Witman Stadtmauer P.A. Click HERE to view the webcast outline!RMD’s from Beginning to End – Required Minimum Distributions (RMDs) are a necessary but complicated aspect of retirement...
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The 2014 ASPPA Annual Conference was our biggest yet, and ASPPA Net had the coverage befitting such an event. Check out a full recap of the sessions and speakers that educated and entertained attendees during the last week of October:
ASPPA Inaugurates Kyla Keck as 46th President
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Why does a TPA need a service agreement, anyway? Shouldn’t a handshake be good enough? Of course it’s not, as all TPAs know — that’s what service agreements are for. “We need service agreements to meet our legal responsibilities for fee disclosure. We need them so that we don’t get sued, ‘or sc....
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American workers are feeling better about their retirement prospects, with most of the (modest) improvement registered among higher-income individuals and women, a new survey suggests.According to “the State of U.S. Employee Retirement Preparedness” by Financial Finesse, nearly 1 in 5 employees...
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More than two and a half years after the city of Stockton, Calif. declared insolvency, Chief United States Bankruptcy Judge Christopher Klein on Oct. 30 confirmed the city’s proposal for exiting Chapter 9 bankruptcy.The city says it saved $2 billion through agreements with creditors, employee...
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The American Society of Pension Professionals & Actuaries honored Richard A. Groszkiewicz, MSPA, with the 2014 Educator’s Award on Oct. 29, during the 48th ASPPA Annual Conference at the Gaylord National Resort and Convention Center in National Harbor, Md.Groszkiewicz is a leader in the field...
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The Government Accountability Office (GAO) recently reissued its preliminary report on individual retirement account (IRA) accumulations.As it had indicated in a statement to the Senate Finance Committee in September, for tax year 2011 (the most recent year available) GAO noted that an estimated 43...
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ASPPA’s College of Pension Actuaries (ACOPA) at an Oct. 28 luncheon during ASPPA’s Annual conference, held at National Harbor, Md., awarded its designation of Fellow, Society of Pension Actuaries (FSPA) to 14 outstanding actuaries. ACOPA bestows the FSPA designation on actuaries who have...
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A treadmill goes on and on, and it can be a lot of work. Some aspects of benefits regulation may seem like one, and participant and plan sponsor disclosures are among them. And it’s not just fiduciaries, plan sponsors and administrators who are running on it — government regulators are, too. ASPPA...
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It’s not often that retirement plan professionals have the chance to ask a distinguished panel for their take on sometimes thorny, sometimes complicated, sometimes nagging issues. But attendees at an "ask the experts" session on the last day of ASPPA’s Annual Conference, held in National Harbor, Md...
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Today, third-party administrators are partnering with plan advisors like never before, providing more robust packages to clients than either could support by themselves. But just like any other team, the partnership can easily fall apart if everyone isn’t working together.At an Oct. 28 workshop at...
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Taking on a new client with an existing plan is a special opportunity for a provider to make a strong first impression, and to reaffirm why you were selected to begin with. Using case studies and easy-to-remember best practices, consultant Sarah Simoneaux, CPC, told attendees at the 2014 ASPPA...
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Remember the kids' game, Hot Potato? Seems like there's a grown-up version too, for plan administrators who perform a fiduciary role. That was what Nicholas J. White, Special Counsel at Trucker Huss, addressed in an Oct. 28 session at ASPPA's 2014 Annual Conference at National Harbor, Md. Named...
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Advisors seeking to capture IRA rollovers face a "four-part harmonization" of regulatory and other government entities -- that is, SEC, DOL, FINRA and GAO -- in the words of ERISA attorney Fred Reish. Speaking at a workshop session at the 2014 ASPPA Annual Conference Oct. 28, the Drinker Biddle...
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Turning 40 is one of those storied moments — and not just for individuals. ERISA turned 40 this year, affording an opportunity to take stock of its impact and whether it is functioning as intended. An Oct. 28 panel discussion at the 2014 ASPPA Annual Conference, held at National Harbor, Md....
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