ASPPA Net Staff
By ASPPA Net Staff 6/25/2020
During a period of unprecedented economic turmoil and uncertainty, a new survey by the Plan Sponsor Council of America offers insights on the response of plan sponsors and participants to the new options.
The snapshot survey of some 137 plan sponsors offered an updated look at the adoption rates...
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By ASPPA Net Staff 6/17/2020
The U.S. Department of Labor has just announced its Request for Information (RFI) on Prohibited Transactions involving Pooled Employer Plans (PEPs) under the Setting Every Community Up for Retirement Enhancement (SECURE) Act and other multiple employer plans.
According to a press release, the...
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By ASPPA Net Staff 6/11/2020
This special “SECURE Act Issue” focuses on helping you make sense of how the SECURE Act’s rule changes and new provisions will affect your business, and to formulate a strategy to take advantage of the opportunities for growth and new business they create.
As Pete Swisher notes in his cover story...
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By ASPPA Net Staff 6/8/2020
Few areas of late have generated as much interest, questions, and confusion as the applications of the Paycheck Protection Program, or PPP.
The meanings and implications of the PPP continue to undergo refinement and clarification. In fact, there are 15 regulations issued by SBA so far, and...
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By ASPPA Net Staff 6/5/2020
ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts.
Live Webcasts
The New Electronic Disclosure Rule Is Here!
Tuesday, June 16, 2020
2:00–2:50 p.m. ET
Speaker: Kelsey Mayo, J.D., Poyner Spruill LLP...
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By ASPPA Net Staff 6/4/2020
President Trump on June 5 signed into law a measure that provides additional flexibility for small businesses under the Paycheck Protection Program. The U.S. Senate had approved the bill by voice vote on June 3, and the U.S. House of Representatives passed it on May 28 by a 417-1 vote.
The...
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By ASPPA Net Staff 6/3/2020
The Internal Revenue Service has provided temporary administrative relief to help certain retirement plan participants or beneficiaries who need to make participant elections by allowing flexibility for remote signatures.
Specifically, Notice 2020-42 provides participants, beneficiaries and...
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By ASPPA Net Staff 5/26/2020
Q. Does the "level amortization" rule prevent a participant from prepaying a loan?
A. The regulations do not address the impact of prepayments on the level amortization rule. As long as the loan repayment schedule provides for level payments, the plan may allow prepayments. However, the plan...
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By ASPPA Net Staff 5/22/2020
We won’t be bringing you an ASPPA Connect newsletter on Monday, May 25 due to the observance of Memorial Day, but we would like to share some little-known facts related to the holiday.
In 2018, 243,000 American flags were placed at graves in Arlington National Cemetery in observance of...
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By ASPPA Net Staff 5/20/2020
The Plan Sponsor Council of America (PSCA), part of the American Retirement Association, has awarded Phyllis Borzi, former Assistant Secretary of the Department of Labor, with its prestigious Lifetime Achievement Award for her career-long commitment to preserving retirement savings.
Borzi was...
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By ASPPA Net Staff 5/15/2020
The Plan Sponsor Council of America (PSCA), part of the American Retirement Association, announced the winners of its 2020 Signature Awards competition on May 14.
PSCA’s Signature Awards recognize exemplary retirement plan education and communications. While education has long been an essential...
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By ASPPA Net Staff 5/12/2020
Editor's Note: This is the fourth installment in a series concerning correcting plan loan failures.
Q. Is there any grace period for the 5-year amortization schedule (e.g., if the 5-year repayment period is exceeded only by a month or two)?
A. No. Neither the Internal Revenue Code nor the...
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By ASPPA Net Staff 5/6/2020
Editor's Note: This is the third installment in a series concerning correcting plan loan failures.
Q. Full-time participant is making loan payments regularly and then changes to “on-call” status. Loan payments become sporadic; for example, 2 required payments made during the quarter, one in...
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By ASPPA Net Staff 5/4/2020
Among the things that have changed during and because of the pandemic is how employers and retirement plan participants are behaving, a recent report indicates.
In “How Saver and Employer Behaviors Are Evolving in Response to COVID-19,” Ascensus provides an analysis of how employers and employees...
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By ASPPA Net Staff 4/28/2020
ASPPA provides extensive coverage concerning a host of aspects of the pandemic and its consequences for plan sponsors, administrators, service providers and participants. This includes how developments resulting from it have affected plans and participants, and how they can be addressed; discussion...
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By ASPPA Net Staff 4/28/2020
Editor's Note: This is the second installment in a series concerning correcting plan loan failures.
Q. Can a loan default be self-corrected if the 5-year repayment period has expired?
A. If the 5-year repayment period has expired, the employer cannot use the SCP correction methods (e.g.,...
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By ASPPA Net Staff 4/23/2020
Assistant Secretary of Labor Preston Rutledge is planning to leave his post at the end of May.
Rutledge was nominated to the post in October 2017 by President Trump. He was confirmed by voice vote of the Senate later that same year.
His tenure included a number of significant regulatory advances...
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By ASPPA Net Staff 4/22/2020
Citing the impact of the Coronavirus pandemic, the Garden State has extended the deadline for considering its proposed fiduciary rule.
New Jersey’s proposed new uniform fiduciary standard was issued April 15, 2019, but under the state’s statutory deadline, the proposal would have expired if...
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By ASPPA Net Staff 4/22/2020
You deserve a break—and we’ve got just the thing: The first ASPPA Virtual Happy Hour—featuring a special (virtual, non-technical) edition of ASPPA Hollywood Squares with the nation’s leading pension trivia geeks!
These are extraordinary times—and we know you’ve been hard at work at crazy hours...
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By ASPPA Net Staff 4/15/2020
Nominations are now being accepted for ASPPA’s 2021 Leadership Council.
Elected at-large members of the Leadership Council serve for one term of four calendar years. Nominees must be credentialed ASPPA members nominated by at least two members to be considered. Submit a nomination today!
To...
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