ASPPA Net Staff
By ASPPA Net Staff 4/15/2020
A new survey of plan sponsors finds notable decision gaps between large and small employers in their adoption of the provisions of the CARES Act.
Considering the breadth and potential depth of those retirement plan options now on the table, it is perhaps not surprising that nearly half (47.4%)...
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By ASPPA Net Staff 4/15/2020
In the cover story of our Spring 2020 issue, we take a deep dive into the provisions of the newly minted SECURE Act. In the feature articles, David Witz and Tom Clark describe how a focused fiduciary education solution that mentors plan advisors can be a key differentiator for you, and Amanda...
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By ASPPA Net Staff 4/10/2020
The IRS has published some good news for Form 5500 filers—well, some Form 5500 filers.
Under Notice 2020-23, released April 9, the extensions[i] generally now apply to all taxpayers that have a filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020. Individuals,...
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By ASPPA Net Staff 4/9/2020
Nominations are now being accepted for American Retirement Association’s 2021 Board of Directors.
Elected at-large members of the Board of Directors serve for one term of three calendar years. Nominees must be nominated by at least two members to be considered. Submit a nomination today!
To...
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By ASPPA Net Staff 4/7/2020
Questions regarding the administration of the CARES Act have been pouring in—and we’ve got answers!
As part of a series of recent webcasts, we have received a large number of questions from our members regarding key operational and administrative aspects of the Coronavirus Aid, Relief and Economic...
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By ASPPA Net Staff 4/3/2020
ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts.
Live Webcasts
ASPPA Webcast: The Fiduciary Rule, Again?
Wednesday, April 8, 2020
2:00 - 3:40 p.m. ET
Speaker: Kevin Walsh, Principal, Groom Law Group...
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By ASPPA Net Staff 4/3/2020
To no one’s surprise, the average 401(k) took a hit in March. But perhaps not quite as bad as you may have thought.
It wasn’t just March, of course. A month ago the average 401(k) balance for younger (25-34), less tenured (1-4 years) workers slid 4.3%. Older (age 55-64) workers with more than...
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By ASPPA Net Staff 3/30/2020
Amidst the ongoing COVID-19 crisis, the American Retirement Association has been working diligently to push for commonsense solutions that provide Americans with the funds necessary to provide for themselves and their families while at the same time protect the private employer-sponsored retirement...
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By ASPPA Net Staff 3/25/2020
Senate leaders and the Trump Administration finally came to terms on a nearly $2 trillion coronavirus emergency relief package—but it’s not done yet.
The announcement, which came around 1:00 a.m. Wednesday, followed five days of tense, and sometimes heated, marathon talks between senators and the...
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By ASPPA Net Staff 3/25/2020
With concerns about the impact of the coronavirus and its impact on retirement plans increasing, we expect to shortly have legislation providing some much-needed relief.
The American Retirement Association has been actively advocating for relief for plan sponsors and participants impacted by the...
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By ASPPA Net Staff 3/20/2020
We are getting reports from a number of our members that employers—struggling with the impact of business closings, a lack of customers, or other economic impacts due to the pandemic—are contemplating terminating their 401(k) plan as a way to free up cash.
As an alternative to termination, we’ve...
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By ASPPA Net Staff 3/19/2020
The American Retirement Association has reached out to members of Congress with proposals to help alleviate cash flow issues for small businesses with retirement plans.
The ARA, whose broad membership consists of service providers and plan sponsors, strongly supports immediate defined contribution...
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By ASPPA Net Staff 3/17/2020
At the American Retirement Association, the health and safety of our staff is paramount, and we remain committed to the support of the critical work of our members. Consequently, amidst growing concerns about the Coronavirus, the increasing number of schools and businesses that are closing, among...
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By ASPPA Net Staff 3/11/2020
Data privacy is an emerging concern for ERISA plan fiduciaries and service providers alike—do you know where your liabilities are?
Fraudulent distribution requests are on the rise and it is not always clear who is responsible and/or who is at fault for security breaches that deplete an...
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By ASPPA Net Staff 3/11/2020
The IRS announced on March 11 that high-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment without jeopardizing their qualified status. This also means that an individual with an HDHP that covers these costs may continue to contribute to a...
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By ASPPA Net Staff 3/11/2020
As concern about workers’ personal finances grows, the number of employers that offer workplace financial wellness programs is expected to nearly double in the next few years, according to new research.
MassMutual’s Financial Wellness Trend Study finds that 42% of employers currently offer...
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By ASPPA Net Staff 3/11/2020
While it's not specifically spelled out in the SECURE Act, a key official with the Labor Department indicated that the agency anticipates issuing guidance to help implement the lifetime income safe harbor provision.
Preston Rutledge, the Department of Labor’s Assistant Secretary for the...
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By ASPPA Net Staff 3/6/2020
What’s the most common issue in retirement administration?
One of the most common issues encountered in retirement administration is when compensation is not applied the same way operationally as it is defined in the plan document. At the newly rebranded ASPPA TE(k), you’ll have an opportunity to...
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By ASPPA Net Staff 3/5/2020
Health savings accounts have become a significant and growing part of American workers’ benefit programs, and, increasingly a significant component of their retirement savings strategy.
Suggesting the growing convergence of health and retirement savings, more than half of respondents to the...
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By ASPPA Net Staff 3/3/2020
Punxsutawney Phil may not have seen his shadow on Groundhog Day—but the average 401(k) definitely saw a “shadow” in February, spurred by a weeklong bout of coronavirus concerns.
It was indeed a wild month for the markets, which at mid-month registered all-time highs, only to suffer, in the last...
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