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ASPPA Net Staff

The Plan Sponsor Council of America (PSCA), part of the American Retirement Association (ARA), is giving retirement plan sponsors at nonprofit organizations an opportunity to participate in, and receive benchmarking data from, its annual 403(b) Benchmarking Survey. Embarking on its second decade,... READ MORE
With the Trump administration’s Association Health Plan rule stymied by a federal judge’s ruling, a large group of Republican senators has introduced legislation to fill that gap. Sens. Chuck Grassley (R-IA) and Joni Ernst (R-IA) have joined Sen. Mike Enzi (R-WY) and a group of colleagues in... READ MORE
ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events. Live Webcasts ASPPA Webcast: IRS Audits and DOL Investigations of Plans and TPAsTuesday, April 23, 2019 2:00–3:40 p.m. ETSpeaker: Fred Reish, APM,... READ MORE
A new report notes that large companies have paid out $6.2 billion in 201 ERISA class-action lawsuits since 2000. And that’s the total of (just) 201 settlements and verdicts since the beginning of 2000 involving corporations in the Fortune 1000, the Fortune Global 500 and the Forbes list of... READ MORE
Principal Financial Group has announced a definitive agreement with Wells Fargo & Company to acquire its Institutional Retirement & Trust businesses. Principal will assume ownership of Wells Fargo’s DC, DB, executive deferred comp, ESOP, institutional trust and custody, and institutional... READ MORE
The IRS is conducting a study of how burdensome it is for pension plan sponsors to fulfill tax reporting requirements with which they must comply. It will be conducted throughout 2019. In response to reports the IRS received that these requirements exact a high cost in expenditure of time and... READ MORE
Ascensus, the nation’s largest TPA, announced April 8 that its TPA Solutions group will become FuturePlan by Ascensus.  The division consists of 42 locations across the country servicing more than 34,000 plans with 30 different recordkeeping partners. Its expertise includes DC plans, DB plans (... READ MORE
In response to unilateral actions taken by the American Academy of Actuaries, the ASPPA College of Pension Actuaries (ACOPA), part of the American Retirement Association (ARA) has taken steps in defense of its members, and the actuarial profession at large. In September 2018, the American Academy... READ MORE
The Plan Sponsor Council of America (PSCA), part of the American Retirement Association (ARA), has launched a new and innovative education program and credential: the Certified Plan Sponsor Professional (CPSP™). Developed by plan sponsors in collaboration with education experts at ARA and some of... READ MORE
Earlier this month, we told you about a proposed new tax that could have a dramatic impact on retirement savings. To help bring attention to this critical issue, American Retirement Association CEO Brian Graff has authored an article that has just appeared in The Hill, a popular news source for... READ MORE
New Jersey Gov. Phil Murphy (D) has signed legislation establishing a state-run retirement savings plan for private-sector employees whose employers do not offer a retirement plan. Murphy signed the bill establishing the New Jersey Secure Choice Savings Program into law on March 28. The state... READ MORE
Testifying at a March 27 Capitol Hill hearing on behalf of the American Retirement Association, ASPPA member Martella A. Turner-Joseph encouraged members of Congress to enact comprehensive legislation to expand American workers’ access to workplace retirement plans. Turner-Joseph, an enrolled... READ MORE
Despite political affiliation, large majorities of Americans believe the nation faces a retirement crisis and are largely supportive of state efforts to expand coverage, recent survey results show.  Findings contained in the National Institute on Retirement Security’s “Retirement Insecurity 2019:... READ MORE
A new survey of nearly 4,000 401(k) plans sheds some light on current plan design trends in the small-plan market. The survey of 3,975 small business 401(k) plans focused on common practices in two plan design areas: contributions and eligibility requirements. It was conducted by Employee... READ MORE
Markets moved higher heading into the New Year, but participant transfers slipped to a historic low. According to the Alight Solutions 401(k) Index, January’s three “above-normal” trading days and one day of low trading activity marked the slowest start to the year in the more than 20-year history... READ MORE
Health savings accounts (HSAs) have become a significant and growing part of American workers’ benefit programs, and, increasingly a significant component of their retirement savings strategy.  To better understand how these programs are designed and administered, the Plan Sponsor Council of... READ MORE
Retirement security has received some much-needed attention in bipartisan legislation introduced in the Senate. The Retirement Security Act of 2019 was introduced by Sens. Susan Collins (R-ME), the Chairman of the Senate Aging Committee, and Maggie Hassan (D-NH), with a goal of helping small... READ MORE
The “January effect” looks to be in full force for the average 401(k) balance. That effect is a seasonal increase in stock prices during the month of January, which has been attributed to a number of things, generally a rebound from tax-loss related stock sales in December. And if December’s... READ MORE
ASPPA’s offices will be closed on Monday, Jan. 21 in observance of Martin Luther King, Jr. Day. Our next edition will next appear on Jan. 23. To mark the day, the “I Have a Dream” speech Dr. King delivered in Washington in 1963 is available here. READ MORE
As part of a program to make the Big Apple the “Fairest Big City in America,” New York City Mayor Bill de Blasio has a plan for retirement savings. Specifically, noting that fewer than half of all working New Yorkers have access to a plan that can help them save for their retirement years and 40%... READ MORE