ASPPA Net Staff

ASPPA took the IRS up on its invitation to comment on the 2015-2016 Priority Guidance Plan and in a comment letter filed on April 30 has made suggestions to the IRS regarding projects and guidance it should pursue during the period covered by the plan.ASPPA said that it believes that every item on... READ MORE

The Department of Labor (DOL) has filed a lawsuit alleging that a profit-sharing plan lost more than $4 million when fiduciaries engaged in self-dealing and conflicted transactions involving plan assets when they caused the plan to pay excessive fees.Filed in the U.S. District Court for the Central... READ MORE

The headlines are all about the impact of the Department of Labor’s new fiduciary proposal on financial advisors — but the effects could be widespread, extending to third-party administrators (TPAs) and recordkeepers as well.On May 5, an ASPPA webcast will bring you up to speed on the historical... READ MORE

A new legislative proposal wouldn’t just require employers to offer a retirement plan — it would mandate employer contributions too.The proposal, unveiled by Rep. Joe Crowley (D-N.Y.), Vice Chair of the House Democratic Caucus, would direct employers with 10 or more employees to open individualized... READ MORE

The Department of Labor will not extend the 75-day comment period for its conflict-of-interest rule, Labor Secretary Thomas Perez said April 23.Asked about his response to requests by industry groups to extend the comment period, ThinkAdvisor reports that Perez said: “The comment period is 75 days... READ MORE

The Pension Benefit Guaranty Corporation (PBGC) has proposed a new requirement that multiemployer plans file certain forms electronically. If the PBGC issues the proposed requirement in final form, it would be applicable to filings made on or after Jan. 1, 2016.The PBGC proposes that the following... READ MORE

“Don’t sweat the small stuff.” Not always good advice — in fact, in the case of the Form 5500, it’s bad advice. The IRS found in its 401(k) Nonqualified Plans Project that plan sponsors sometimes enter information on the form that indicate that their plan is not qualified. But they don’t mean to —... READ MORE

The Department of Labor’s long-awaited fiduciary reproposal claims to protect consumers from “conflicts of interest” in retirement advice — but at what cost?While initial concerns about preserving the ability for 401(k) participants to work with the advisor of their choice on rollovers appear to be... READ MORE

The Investment Company Institute says the Obama administration relied on "fatally flawed" research in supporting its push for an expansion of the “conflicted advice” rule released April 14, and that the claim that retirement savers pay “billions of dollars a year” in excess costs “does not stand up... READ MORE