ASPPA Net Staff
By ASPPA Net Staff 11/4/2015
On Nov. 3, 2015, ASPPA submitted a comment letter in response to an IRS request in Revenue Procedure 2015-27 for recommendations regarding the treatment of overpayments, as defined in sections 5.01(3)(c) and 5.02(4) of Revenue Procedure 2013-12, under the Employee Plans Compliance Resolution System...
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By ASPPA Net Staff 11/3/2015
They may not have been willing to block the Department of Labor’s (DOL) fiduciary proposal with legislation, but a group of Democratic members of the U.S. House of Representatives are asking for some additional time to comment on the final proposal before it’s final.The request comes in the form of...
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By ASPPA Net Staff 11/2/2015
The Social Security Administration and the IRS have issued the Fall 2015 edition of their joint online newsletter, the SSA/IRS Reporter, This edition includes information on issues related to retirement plans and compliance.The newsletter provides links to information on the following recent...
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By ASPPA Net Staff 10/30/2015
Much has been said about the interest and engagement of Millennials in retirement readiness. So a discussion at a recent TD Ameritrade Advocacy Summit held in Washington, DC certainly appears well-timed. Fiduciary News’ Christopher Carosa provides a look at what a panel of four retirees told...
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By ASPPA Net Staff 10/30/2015
Halloween may be over, but things can still get scary for a practitioner when a forfeiture is involved.In “Forfeiture Stories for a Late Night Campfire,” a webcast that will be held from 2:00-3:40 p.m. on Thursday, Nov. 12, Adam C. Pozek, ERPA, QPA, QPFC, Partner, DWC ERISA Consultants, LLC; and...
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By ASPPA Net Staff 10/29/2015
There’s not much time left in 2015, and that applies to more than just the calendar. It also applies to certain required minimum distributions (RMDs). The IRS issued a reminder in IR-2015-122 on Oct. 29 that those born before July 1, 1945 generally must receive payments from their IRAs by Dec. 31....
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By ASPPA Net Staff 10/29/2015
The Department of Labor’s (DOL) proposed fiduciary rule would make many changes. One of them — and one central to what constitutes a fiduciary act and who a fiduciary is — is what constitutes a recommendation.And that was one of the topics addressed by panelists in a discussion at the recent LIMRA...
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By ASPPA Net Staff 10/28/2015
The Pension Benefit Guaranty Corporation (PBGC) said Oct. 28 that the 2016 annual maximum guaranteed benefit for a retiree at age 65, as well as that for multiemployer plans, will remain at the same levels as those set for 2015.The 2016 annual maximum guaranteed benefit for a retiree at age 65 will...
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By ASPPA Net Staff 10/28/2015
The U.S. House of Representatives passed legislation Oct. 27 that would block the Department of Labor from finalizing its fiduciary proposal until the Securities and Exchange Commission weighs in.By a 245-to-186 margin, the House passed the Retail Investor Protection Act of 2015 (H.R. 1090), which...
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By ASPPA Net Staff 10/27/2015
An Oct. 23 hearing by a subcommittee of the House Financial Services Committee became the latest stage on which House members expressed frustration over proposals related to fiduciary regulation. The Subcommittee on Capital Markets and Government hearing, “Oversight of the SEC’s Division of...
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By ASPPA Net Staff 10/27/2015
The Pension Benefit Guaranty Corporation (PBGC) has raised the per-participant flat premium rates and the variable-rate premium for single-employer plans for plan years beginning in 2016. The PBGC made the announcement on Oct. 26.The per-participant flat premium rate for plan years beginning in...
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By ASPPA Net Staff 10/27/2015
ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events.Live WebcastsACOPA Webcast: Actuarial 101 for Non-ActuariesTuesday, Nov. 3, 20152 p.m. - 3:40 p.m. ETSpeaker: Mary Ann Rocco, EA, MSPAAttend this webcast...
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By ASPPA Net Staff 10/27/2015
Pension plans may not be subject to volatility in quite the same way as defined contribution plans, but nonetheless they face uncertainties and the vagaries of external factors too. That has some plans considering how to mitigate that risk. MetLife in its most recent Pension Risk Transfer Poll...
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By ASPPA Net Staff 10/26/2015
An unsuspecting fiduciary may encounter fiduciary breaches — and face unanticipated consequences.In “Fiduciary Breach: Avoidance and Mitigation,” a webcast by Bruce Ashton that will be held from 2:00-3:40 p.m. ET on Oct. 28, Bruce Ashton, APM, Partner, Drinker Biddle & Reath LLP, will address...
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By ASPPA Net Staff 10/23/2015
Concerned that prior guidance has discouraged the embrace of “economically targeted investments,” the Department of Labor (DOL) has issued a new interpretive bulletin.The DOL starts by broadly defining an economically targeted investment as “…any investment that is selected, in part, for its...
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By ASPPA Net Staff 10/22/2015
The 2015 ASPPA Annual Conference offered a great opportunity to meet other pension professionals, hear from government leaders and experts, and gain insights on critical issues and developments facing the industry. Here’s a recap of our coverage of sessions and speakers from this year’s conference...
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By ASPPA Net Staff 10/21/2015
As expected most of the limits were unchanged, because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment — but there were some increases.The Internal Revenue Service (IRS) highlighted the following limitations that WILL change in 2016 from...
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By ASPPA Net Staff 10/19/2015
Karen Smith, MSPA, will serve as President of the ASPPA College of Pension Actuaries for the 2015-2016 year. Smith was inaugurated as president Oct. 19, at ACOPA’s annual luncheon at ASPPA’s Annual Conference in National Harbor, Md.Smith succeeds ACOPA’s 2014-2015 President, Lynn M. Young, MSPA.The...
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By ASPPA Net Staff 10/19/2015
The American Society of Pension Professionals & Actuaries welcomed Joseph A. Nichols, MSPA, ASA, EA, MAAA, as the new president of the organization during the Oct. 18 Business Meeting that kicked off the 2015 ASPPA Annual Conference in National Harbor, Md.Nichols succeeds 2015 ASPPA President...
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By ASPPA Net Staff 10/19/2015
The American Society of Pension Professionals & Actuaries announced five annual industry awards during the Oct. 18 opening session of the 2015 ASPPA Annual Conference in National Harbor, Md.Harry T. Eidson Founders Award The 2015 Harry T. Eidson Founders Award was presented to Dallas Salisbury...
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