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If you send the IRS a Voluntary Compliance Program (VCP) submission on paper on April 1, it will be returned to you. But it won’t be an April Fools Day joke. Beginning April 1, 2019, the IRS will only accept VCP submissions that are made electronically through It will return VCP... READ MORE
A new study answers the question, “What do workers do with their retirement savings after they leave their employers?” – and when? To help plans better evaluate the distribution decisions people make when leaving employment, Alight Solutions takes a deep dive into the post-termination behavior of... READ MORE
There were three interesting reports published over the past week, which offered insights into ways to increase savings (or not), how to retain those accounts (or not), as well as an updated perspective on how all those comings and goings are adding up. The first to grab my attention was the... READ MORE
A majority of physical workers are confident about retiring with a comfortable lifestyle, but few appear to be on track to meet their estimated retirement income needs, according to a new global research report.   Physical workers are more likely than non-physical workers to say they are very/... READ MORE
You know your clients – but how well do you know yourself?   As leaders and as women, we all strive to improve, and, like many of you, I have spent considerable time on self-awareness during my career in financial services. Along the way, I’ve been challenged to understand and define my leadership... READ MORE
The wild ride that financial investments have been on lately has become manifest in yet another way: the vagaries of pension plan funding levels. Two reports on funding ratios bear out the volatility. Days shorten and light is in shorter supply (in the northern hemisphere, at least) as a year... READ MORE
Despite the 2018 market downturn, the projected retirement deficit for U.S. households has improved somewhat, though some remain at greater risk than others, according to new data from the Employee Benefit Research Institute. “Retirement Savings Shortfalls: Evidence from EBRI’s 2019 Retirement... READ MORE
Nevada may be gambling with access to brokerage services for residents, based on the reactions of a number of brokerages to the Silver State’s proposed fiduciary regulation. According to published reports, Morgan Stanley says it would halt its brokerage services in Nevada entirely if the state... READ MORE
The IRS has issued tables concerning covered compensation under Internal Revenue Code Section 401(l)(5)(E) and Treas. Reg. §1.401(l)-1. The data is contained in Revenue Ruling 2019-6. These tables provide information on covered compensation based on calendar year of birth and Social Security... READ MORE
Baby boomers, a generation spanning the better part of two decades, has members who are retired, but plenty of members who are in the workforce and will be for years to come. And a recently released report on financial security and aging suggests that may be a good thing. In “Seeing Our Way to... READ MORE
Some employers find that financial wellness programs have much to offer: informing and empowering employees to better prepare for their current and future financial security, as well as enhancing their relationship with their employees. And at a comparatively low cost, to boot. A recent article... READ MORE
You’ve already decided you want to learn from the expert speakers at ASPPA’s Eastern Regional Conference, May 9-10 on topics you can use in your work . So it’s no breach of your fiduciary responsibilities if you also get some “me” time – or “us” time – in the evenings or on the weekend.... READ MORE
President Trump’s fiscal year 2020 budget addresses the Administration’s high-priority items, such as increased spending for national security, but it doesn’t include much about retirement. Released by the White House’s Office of Management and Budget on March 11, the proposal – dubbed “A Budget... READ MORE
Multiple employer plans (MEPs) are not new. But what is new is the attention they are receiving and the possibility that they could be more widely available. A recent analysis offers a look at MEPs and what the results of making open MEPs possible could mean. In “Multiple Employer Plans and Their... READ MORE
The mail came! There’s a statement showing growth in the retirement account. There’s another showing that a debt that accumulated isn’t getting any better. Tempting… but a recent blog entry argues that using some retirement plan funds to satisfy a debt is a siren song. In “Why Borrowing from a... READ MORE
In recent weeks, the headlines have been full of stories about tax refunds – or, perhaps more accurately, the lack of tax refunds.  It’s the kind of thing that might not normally find its way into the headlines, but this particular situation has struck a chord – both because it includes people who... READ MORE
Since enactment of the Pension Protection Act in 2006, automaticity has been highly successful in improving retirement readiness. But new, highly personalized fintech advances may help drive retirement readiness to the next level, according to a new white paper.  Building on the success of auto-... READ MORE
Calls for bipartisan action to address the problems facing multiemployer pension plans highlighted a March 7 hearing of the House Education and Labor Committee’s Subcommittee on Health, Education, Labor and Pensions. The crisis facing multiemployer pension plans “Is not years away, it is happening... READ MORE
The IRS announced on March 7 that victims of the severe storms, tornadoes and straight-line winds that took place on March 3, 2019 in Alabama may qualify for some forms of tax relief. Where and to Whom it Applies The relief applies to: individuals who reside or have a business in Lee County, and... READ MORE
Legislation introduced Feb. 28 by Sen. Charles Grassley (R-IA) includes provisions that concern the use of funds from retirement plans to address losses and circumstances facing account holders after disasters take place. The use of retirement plan funds is really one area the bill, The Tax... READ MORE