ASPPA Net Staff

First Quarter Corporate Pension Funding Status News Lackluster

By ASPPA Net Staff 4/8/2015

Corporate pension funding levels in the first quarter of 2015 lost some ground, according to analysts from two industry sources. Assets grew, but not to the extent that liabilities did, the reports say.Corporate pension plan assets grew 2.61% on the strength of the performance of most asset classes... READ MORE

What’s Coming Up: ASPPA Webcasts and Events

By ASPPA Net Staff 4/8/2015

ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events.Live WebcastsDeferral Election Trouble SpotsTuesday, April 28, 20152 p.m. - 3:40 p.m. ETSpeaker: Robert M. Richter, J.D., LL.M., APM; Vice President,... READ MORE

IRS Leaders to Speak at 2015 ASPPA Philadelphia Conference

By ASPPA Net Staff 4/2/2015

A panel of top experts from the IRS will participate in this year’s ASPPA Philadelphia Regional Conference, which will take place April 30 – May 1 at the DoubleTree Center City in Philadelphia.The IRS panel features: Sunita Lough, Commissioner, TE/GE Division, IRS Robert Choi, Director,... READ MORE

Mixed March Results for 401(k)s Follow Strong Months

By ASPPA Net Staff 4/2/2015

After a string of positive months for average 401(k) balances, the markets finally took their toll in March. The news comes after strong growth for defined contribution assets in the fourth quarter of 2014.March ResultsThe average account balance of those aged 55-64 with more than two decades of... READ MORE

Tune In — For ASPPA’s First-Ever Virtual Conference

By ASPPA Net Staff 4/2/2015

Next month ASPPA brings you up-to-date information on the most recent and relevant topics straight to your desktop with our first-ever “virtual conference.”On May 14, we’ve put together a single-day program, jam-packed with information and insights from the nation’s leading retirement plan experts... READ MORE

IRS Makes it Easier to Resolve Plan Loan Problems

By ASPPA Net Staff 4/1/2015

The Internal Revenue Service is moving to make it easier — and in some cases cheaper — to remedy plan problems with participant loans. In Revenue Procedure 2015-27, the IRS said it is reducing voluntary correction program (VCP) compliance fees relating to failures to meet requirements with respect... READ MORE

Loans from Solo 401(k)s Unabated

By ASPPA Net Staff 4/1/2015

A strengthening economy does not appear to have translated into fewer loans from solo 401(k)s.IRA Financial Group partner Adam Berger recently told BenefitsPro that his firm has found that the rate of participant loans in their plans has not dropped despite the improving economy. He said that 20-25... READ MORE

What’s the Right Savings Rate for a Successful Retirement?

By ASPPA Net Staff 3/27/2015

The “right” answer is, of course, it depends.But the nonpartisan Employee Benefit Research Institute (EBRI) has published an analysis that, with the benefit of a full stochastic decumulation model focusing simultaneously on post-retirement investment risk, longevity risk and long-term care costs,... READ MORE

Expanded Annual Actuarial Certifications for Certain Multiemployer Plans Due March 31

By ASPPA Net Staff 3/26/2015

Expanded annual actuarial certifications for multiemployer plans are due March 31 for calendar year plans. The IRS issued the reminder in the March 25 issue of Employee Plans News. The Multiemployer Pension Reform Act of 2014, enacted on Dec. 16, 2014, revised the annual funding certification... READ MORE

Temporary Nondiscrimination Relief for Some Closed DB Plans Extended

By ASPPA Net Staff 3/20/2015

http://www.irs.gov/pub/irs-drop/n-15-28.pdfSponsors of certain closed defined benefit plans got some good news from the IRS on March 19 — it has extended temporary relief from nondiscrimination rules under Internal Revenue Code Section 401(a)(4) for another year. The extension applies to DB plans... READ MORE

RMD April 1 Deadline Looms

By ASPPA Net Staff 3/20/2015

Time draws short for required minimum distributions (RMDs) from traditional IRAs and employer-provided retirement plans to taxpayers who reached age 70½ in 2014. The IRS on March 19 in IR-2015-55 issued a reminder that the deadline is April 1.The April 1 deadline applies to owners of traditional... READ MORE

SEC Chief Seeks Uniform Rule for Brokers and Advisors

By ASPPA Net Staff 3/18/2015

The Securities and Exchange Commission should pursue an effort to set new rules for broker-dealers and investment advisors in their work to burnish clients’ pots of gold, March 17 remarks by SEC Chairman Mary Jo White indicated. She made her comments at a meeting of the Securities industry and... READ MORE

What’s Coming Up: ASPPA Webcasts and Events

By ASPPA Net Staff 3/18/2015

ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events for ASPPA members.Live WebcastsMaking Sense of MEPs and Other Fiduciary Delegation ModelsWednesday, April 8, 20152:00 p.m. - 3:40 p.m. ETSpeaker: Robert J... READ MORE

How Did Participants React to Record Market Highs in February?

By ASPPA Net Staff 3/17/2015

Record highs on Wall Street did little to motivate participant movement in February — and while transfers favored fixed income during the month, international funds also had some allure.According to Aon Hewitt’s 401(k) Index, which tracks the activity of roughly 1.3 million participants and $160... READ MORE

Not too Late to Contribute to an IRA for 2014

By ASPPA Net Staff 3/17/2015

The IRS on March 16 in IR-2015-50 issued reminders concerning tax treatment of individual retirement account. Among them is a reminder that there still is time to contribute to an IRA for 2014 and, in many cases, qualify for a tax credit or deduction.Other reminders the IRS issued in IR-2015-50... READ MORE

Retirement Security Concerns Don’t Translate to High Balances — Yet

By ASPPA Net Staff 3/16/2015

Americans strongly believe in and support saving for retirement. But that doesn’t necessarily mean that they’re saving as much as they are projected to need in order to be financially ready for retirement. The findings of two recent studies illustrate this disconnect.The National Institute on... READ MORE

ACOPA Actuarial Symposium: Save the Date!

By ASPPA Net Staff 3/13/2015

Concerned about the impact of recent guidance and proposals? Wondering how others are approaching those problems that have not been addressed by current guidance? Join fellow pension actuaries and other defined benefit plan professionals at the Sheraton Chicago Hotel and Towers Aug. 7-8 for the... READ MORE

Key GOP Senators Say DOL Fiduciary Rule Could Restrict Access to Advice

By ASPPA Net Staff 3/13/2015

A group of eight Republican senators, including the Chairmen of the Senate Finance Committee and the Senate Committee on Health, Education, Labor & Pensions (HELP), have expressed their concerns about the potential negative consequences for American workers if the Labor Department’s fiduciary... READ MORE

Cuts Ahead for Multiemployer Plan Benefits?

By ASPPA Net Staff 3/12/2015

In coming years, more than half of workers and retirees in terminated multiemployer plans will face a reduction in benefits under current Pension Benefit Guaranty Corporation (PBGC) guarantees if their plans run out of money, according to a new study.In the past, only about 20% of workers and... READ MORE

IRS Updates Guides for SEPs

By ASPPA Net Staff 3/9/2015

The IRS has updated materials it provides to assist employers, plan administrators and TPAs in remaining in compliance with federal law and regulation concerning simplified employee pension (SEP) plans.The IRS updated the SEP Fix-It Guide to reflect cost-of-living adjustments made to compensation... READ MORE

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