Skip to main content

You are here


ASEA Monthly

Lately, several people have asked me about a “mega backdoor Roth IRA.” I didn’t really know what this was, but anything with “backdoor” in the name is something I want to explore. It sounds a little devious. Maybe I could finally be a bad boy—more so than when I rip tags off mattresses or go... READ MORE
Hello ASEA— Hope you are all enjoying the nicer weather, loosening of restrictions and the new look of MyPAA. All result in more fun in our lives! I have enjoyed the post-April work slowdown and finally taking some time off here and there. Enjoy your summer vacations as September and October loom... READ MORE
The process is not that hard. If you are already meeting (digitally or in person) with your associates and discussing actuarial types of issues, you may wish to apply to be a “Qualifying Sponsor.” In October 2020, the JBEA placed the instructions on how to attain this designation on its website.... READ MORE
As you may have heard, Marty Pippins, who serves as both ASEA Executive Director and ARA Director of Regulatory Policy has announced his upcoming retirement on Feb. 12, 2021. We will certainly miss Marty’s leadership and I would like to use this forum to personally thank Marty for all that he has... READ MORE
Hello ASEA— Happy 2020.5, all. I look forward to getting back to the old normal sooner than later. But actuarial work continues... I was edumacating (sic) myself on 401(a)(26) rules under the SECURE Act and I came across an article by John Markley, our former president and Industry Relations... READ MORE
What a year. Recently, I took a few minutes to read Lauren Okum’s first article as President of ASEA (ACOPA at the time). As I read, all I could think was how different this year turned out to be than the Lauren of October 2019 would have thought. Fate threw us all quite a curveball, and I wanted... READ MORE
The last person to be receiving a Civil War-era pension has died. Irene Triplett, of Wilkesboro, NC, died on May 31 at the age of 90 due to complications from having fallen a few days earlier, according to the Washington Post and other news outlets. Ms. Triplett had been receiving $73.13 per month... READ MORE
Hello ASEA— Hope you all have a wonderful Thanksgiving and holiday season. I hope next year is back to the normal we once knew. As we live in somewhat of a divided nation, our first article concerns the epitome of a divided nation, the Civil War. Incredibly, the last Civil War-era pension died... READ MORE
Please join us for the American Society of Enrolled Actuaries (ASEA) annual business meeting, virtually, on Aug. 20 from 3:15-3:45 p.m. ET.  During the meeting, led by ASEA President Lauren Okum, MSEA, we’ll discuss:  Leadership election results  Review of ASEA bylaws Webcasts and ASEA... READ MORE
Most qualified retirement plans need a fidelity bond. This has been the rule for more than 40 years. Even so, it is not the kind of thing the typical plan sponsor spends a lot of time focusing on. A what bond? Fidelity who? We run across a number of plans that either (1) don’t have the required... READ MORE
According to the New Jersey state website, through December 2019 there were 352,416 retirees getting annualized pensions of $11,675,297,749, while through June 2020 there were 348,556 retirees getting annualized pensions of $11,663,052,220. That drop (3,860 in the number of retirees and $12,245,529... READ MORE
If I have one actuarial memory that will last forever, it will be the early 1990s, and getting the actuarial results in the mail at my Park Slope, Brooklyn apartment (it was really Park Slope South – not the best neighborhood back then). I can still see the shelf where the mailman put the envelope... READ MORE
Aug. 6, 2020 I am gearing up for vacation next week, so the introduction to the articles will be shorter than usual. Vacation in the pandemic age is a bit different. My plans went from a week in Toronto (cancelled) to a week in Kiawah Island, SC (quarantine required upon return) to a few days in... READ MORE
The Joint Board for the Enrollment of Actuaries on Aug. 10 issued a notice to all qualifying sponsors of continuing professional education (CPE) programs for enrolled actuaries of a temporary waiver of the “physical presence” requirement.   Concern for Health   The Joint Board “recognizes the... READ MORE
Pensions aren’t always monthly checks that arrive in the mail. Sometimes, a departing employee will receive his whole benefit at the time of retirement or separation from service. By David J. Kupstas EDITOR’s NOTE: This is a longer, more in-depth version of David J. Kupstas’ Actuarial/DB column... READ MORE
Nominations are now being accepted for both ASPPA’s 2021 Leadership Council and the American Retirement Association’s 2021 Board of Directors.  Elected at-large members of the ASPPA LC serve for one term of four calendar years; elected at-large members of the ARA Board serve for one term of three... READ MORE
Well, where to begin? It has been a strange, almost surreal, couple of months for all of us. I hope everyone is staying safe and healthy during this pandemic.  I always value my membership in ASEA, but it has become even more important during this time of economic uncertainty. Between the brain... READ MORE
Hello ASEA—  Greetings from Queens, New York!  I have been very lucky not losing any friends or family, working from home, and staying healthy. The cancelled July meeting in Toronto for the EA-2L exam committee was a gut punch, but of course it could be worse. Alas, we will still meet, but... READ MORE
I want to give you an update that ASEA is planning an exciting new initiative: a Virtual Conference. As you might be aware, ASPPA hosts all-day Virtual Conferences in December and May. Each one provides 7.5 hours of CE credit. ASEA is planning on doing a mini-version of our own. Right now, we are... READ MORE
Investing in real estate within a qualified retirement plan is a nontraditional investment that requires careful consideration. Real estate includes but is not limited to Limited Partnerships, land, buildings, etc. Some issues are listed below; however they do not take into account issues such as... READ MORE