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ASPPA Net Staff

The nation’s private pension plan insurer has raised the participant threshold for plan termination audits. Specifically, the Pension Benefit Guaranty Corporation (PBGC) has revisited their audit guidelines so that, going forward, only plans that terminate with more than 1,050 participants will be... READ MORE
The Biden administration has thrown its support behind the conclusions—and safeguards—of the previous administration’s e-delivery rule. “Our preliminary assessment is that the subject regulation is unlikely to have any negative impact on the populations identified in the explanatory statement... READ MORE
What was your first day working in the retirement plan industry like? The words “confusing,” “daunting,” or “disorienting” might come to mind.  That’s what makes providing training for new employees—even a basic but useful industry overview—a real challenge. Where should you start? How much should... READ MORE
While employees are receptive to a variety of ways to participate in employee plans and learn about them, some electronic and automatic tools are strong favorites, according to a recent report.  The report, by Nick Rockwell and Erin Marino, of Eastbridge Consulting Group, Inc., as reported by... READ MORE
The pandemic has affected the way many Americans are able to save for retirement, with surprising disparities among age groups, gender and even geographic areas, new survey results show.  Nearly one in five Americans (17%) say they are saving less money for retirement due to the pandemic,... READ MORE
ASPPA Connect will not be appearing on Monday, Jan. 17 as ASPPA’s offices will be closed in observance of Martin Luther King, Jr. Day. Our next edition will next appear on Jan. 19. To mark the day, the “I Have a Dream” speech Dr. King delivered in Washington in 1963 is available here. READ MORE
CalSavers is getting ready to impose penalties on employers with more than 100 workers with no retirement plan who haven’t registered—and it’s not cheap. Employers that do not offer a private retirement plan and who have more than 100 employees have been urged to immediately comply with state law... READ MORE
The newest digital edition of ASPPA’s members-only magazine has just been posted online for you! MEP, PEP or single-employer plan? In our cover story, Theresa Conti, Jim Racine and David Witz explain why, with the introduction of several new retirement plan arrangements by the SECURE Act,... READ MORE
It was (another) volatile, uncertain year—but those year-end 401(k) statements should provide some welcome news for participants. Rebounding from an omicron-depressed November, the average 401(k) average 401(k) balance of older (age 55-64) workers with more than 20 years of tenure soared 3% in... READ MORE
The start of a new year brings changes in ASPPA’s Leadership Council and President. The Society’s 2022 President is Natalie Wyatt, QPA, QPFC, succeeding 2021 President Frank Porter, QPA, QKA. Wyatt is a Senior Account Executive at SS&C Technologies in Versailles, KY with more than 30 years of... READ MORE
ASPPA Connect will not appear on Friday, Dec. 31 as the ASPPA office will be closed that day. We’ll be back on Monday, Jan. 3. We wish you happy new year, and offer some little-known facts concerning New Year's Day. New Year’s Eve is one of the oldest holidays still celebrated, but the exact date... READ MORE
ASPPA Connect will not appear on Friday, Dec. 24, as the ASPPA office will be closed. We’ll be back on Monday, Dec. 27. We wish you happy holidays—and here are some interesting holiday-related facts.  The first song played in space was “Jingle Bells,” which was played on spaceflight Gemini 6A in... READ MORE
For more than two decades, ASPPA’s Qualified 401(k) Administrator/QKA credentials have established a level of professional expertise among those who work with 401(k) plans—a trademark that is now being undermined by another organization. Because of ASPPA’s extensive and continued support and... READ MORE
The IRS on Dec. 17 announced the standard mileage rates—optional rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes—for 2022. Effective Jan. 1, 2022, the standard mileage rates for the use of a car—as well as vans, pickups... READ MORE
On the heels of its announcement that it plans to acquire Sumday, a subsidiary of BNY Mellon that manages and administers state-sponsored savings programs, Vestwell has announced that Sumday will administer plans in Oregon, Connecticut and Maryland.  The collaboration between the Vestwell,... READ MORE
A record number of employees are eligible for and participating in 401(k) plans, and employers are increasing their default deferral limits in the wake of the SECURE Act, the Plan Sponsor Council of America has found. Several factors shaped the 2020 retirement plan year—the pandemic and ensuing... READ MORE
While the American Retirement Association is broadly supportive of its stated intentions, the Labor Department’s proposed rule regarding consideration of ESG factors in plan investments and proxy voting should adopt a more neutral stance.  In a Dec. 13 comment letter, the ARA recommends that in... READ MORE
PenChecks Trust® and the American Society of Pension Professionals & Actuaries (ASPPA) are pleased to announce a major expansion of their Scholarship Program for retirement industry professionals. The original program, started eight years ago, awarded scholarships to individuals pursuing ASPPA’... READ MORE
Concerns about the Omicron variant—and possible responses to it—capped off a volatile month for U.S. stock markets—and it made for a bumpy ride for the average 401(k) as well. The Dow dropped 3.7% in November, while the S&P 500 shed 0.8% and the NASDAQ managed to eke out a 0.25% gain. On the... READ MORE
UPDATED NOV. 29: HEARING RESCHEDULED The Senate Health, Education, Labor and Pensions (HELP) Committee has scheduled a vote to consider President Biden’s pick to head the Employee Benefits Security Administration (EBSA). The HELP Committee has scheduled a vote to consider the nomination of Lisa... READ MORE