ASPPA Net Staff
By ASPPA Net Staff 5/29/2015
The recent Department of Labor (DOL) study finding deficiencies in audits of employee benefit plans does not translate to a statement about how viable those plans are, says the American Institute of CPAs (AICPA). In a May 28 statement, AICPA said that “none of the quality issues identified by the...
READ MORE
By ASPPA Net Staff 5/28/2015
Physician, heal thyself. A study the Department of Labor (DOL) did of its audits of employee benefits plans shows that the department needs to improve the quality of those audits.In fact, such audits today are more likely to be deficient than they were a decade ago. Bloomberg BNA reports that the...
READ MORE
By ASPPA Net Staff 5/26/2015
Senate Finance Committee Chairman Orrin Hatch (R-Utah) and Ranking Member Ron Wyden (D-Ore.) on May 21 released an update on the committee’s bipartisan tax working groups.The senators said they would allow the working groups more time to analyze current tax law and examine policy trade-offs and...
READ MORE
By ASPPA Net Staff 5/26/2015
On May 20, President Obama announced his intent to nominate a number of individuals to key Administration posts, including the Pension Benefit Guaranty Corporation (PBGC).Assuming the Senate concurs, W. Thomas Reeder, Jr. is the President’s choice to head the nation’s private pension insurer. The...
READ MORE
By ASPPA Net Staff 5/22/2015
Employers, plan administrators, third party administrators and others associated with multiemployer plans have received reassurance regarding the scope of the Pension Benefit Guaranty Corporation’s proposed rule on mandatory e-filing for certain multiemployer notices.The PBGC issued a clarification...
READ MORE
By ASPPA Net Staff 5/21/2015
While we won’t be bringing you an ASPPA Connect newsletter on Monday in view of it being Memorial Day, we did want to share with you some interesting facts about the holiday that you might not have known. Memorial Day began after the Civil War. The loss of life and its effect on communities...
READ MORE
By ASPPA Net Staff 5/21/2015
ASPPA Executive Director and CEO Brian Graff opened ASPPA’s first-ever virtual conference May 14 with a discussion of “the elephant in the room” — the Department of Labor’s (DOL) reproposal concerning the definition of who is a fiduciary.Graff noted that the proposed regulation is “mammoth,” but...
READ MORE
By ASPPA Net Staff 5/21/2015
ASPPA’s first-ever virtual conference on May 14 provided its 600+ attendees more than critical information on important issues — it also afforded them an ideal opportunity to gain the expert speakers’ insights on particular situations and matters.DOL Fiduciary RuleIt’s no surprise that the...
READ MORE
By ASPPA Net Staff 5/21/2015
ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events.Live WebcastsForm 5500 UpdateTuesday, May 26, 20152:00 p.m. - 3:40 p.m. ETSpeaker: Janice M. Wegesin, CPC, QPA, President, JMW Consulting, Inc.This webcast...
READ MORE
By ASPPA Net Staff 5/18/2015
Concerned about recent guidance and proposals? Looking for an opportunity to learn from industry leaders and experts and hear from government officials? Interested in best practices and hearing what others in the industry are doing?Join other pension professionals for all this and more at ASPPA’s...
READ MORE
By ASPPA Net Staff 5/18/2015
The Department of Labor (DOL) has announced a brief extension of the comment period on its fiduciary reproposal — and has set a date for a public hearing.The comment period for what the DOL calls the Conflict of Interest Notice of Proposed Rulemaking has been extended by 15 days — from 75 to 90...
READ MORE
By ASPPA Net Staff 5/15/2015
Legislation introduced recently in the U.S. House of Representatives and the Senate would require retirement plans to include an “annuity equivalent” on participant statements.In the House, Reps. Luke Messer (R-Ind.) and Mark Pocan (D-Wisc.) introduced the Lifetime Income Disclosure Act (H.R. 2317...
READ MORE
By ASPPA Net Staff 5/13/2015
If life gives you lemons, make lemonade. And if the constitution prevents pension reform, make the constitution work for it. That appears to be the message of Illinois Gov. Bruce Rauner (R), whose office suggested as much as soon as the Illinois Supreme Court upended the state pension reform law....
READ MORE
By ASPPA Net Staff 5/12/2015
The Form 5500 is part of the bread and butter of the federal government’s information gathering concerning employers and employee benefit plans. But authority to use it is not eternal. The Department of Labor’s Employee Benefit Security Administration (EBSA) has asked the Office of Management and...
READ MORE
By ASPPA Net Staff 5/11/2015
In a bid to expand availability of employee stock ownership plans (ESOPs) in S corporations and enhance retirement savings, Sen. Ben Cardin (D-MD) on May 6 introduced legislation that he hopes will accomplish both.The Promotion and Expansion of Private Employee Ownership Act of 2015, S. 1212, would...
READ MORE
By ASPPA Net Staff 5/11/2015
“The big picture is huge. It is very much a radical reshaping of our landscape at this point.” With that, David N. Levine, Principal, Law Group, Chartered, opened the recent ASPPA webcast, “The Conflict of Interest Proposal: How it Works and What it Means.” Pete Swisher, Senior Vice President and...
READ MORE
By ASPPA Net Staff 5/11/2015
Nominations are now being accepted for three open seats on ASPPA’s 2016 Leadership Council.In addition to two open seats as committee members end their three-year terms on Dec. 31, 2015, a four-year at-large seat will become open as well. All members of the Leadership Council serve calendar year-...
READ MORE
By ASPPA Net Staff 5/7/2015
The IRS has put in place new ways to correct elective deferral errors in 403(b) and 401(k) plans. The IRS on May 6 updated its webpage concerning these corrections; it also included coverage of these changes in Issue 2015-5 of Employee Plans News.These methods are contained in Revenue Procedure (...
READ MORE
By ASPPA Net Staff 5/7/2015
The effective dates of changes the IRS Employee Plans division made to processing of determination letters for retirement plans vary by form, the IRS has reminded filers and retirement professionals.The new effective dates are part of revised processing procedures that apply to all determination...
READ MORE
By ASPPA Net Staff 5/6/2015
Do you know of an ASPPA member who has made a significant contribution to retirement plan education, especially in the last 12 months? You can help make it possible for him or her to receive recognition! Nominations are now being accepted for ASPPA’s 2015 Educator’s Award. But you need to act soon...
READ MORE
Pages
Most Popular
ASPPA Benefits Councils
The 19 ABC chapters feature networking and educational opportunities, right in your own neighborhood! For more information. Click HERE
Advertisement