Defined Contribution Plans

We are on the cusp of a new year, and there are some important developments to keep in mind as 2021 arrives.  Required Minimum Distributions The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, enacted on Dec. 20, 2019, raised the age for required minimum distributions... READ MORE

It’s hard to find among the nearly 5,600 pages of text, but there is some important retirement plan relief in the $900 billion COVID stimulus package. Perhaps the most significant element is a “temporary rule preventing partial plan termination.” The provision, for which the American Retirement... READ MORE

So much of our lives have been disrupted by the COVID-19 pandemic—but the pace of 401(k) litigation, it seems, has, if anything, accelerated. Now, some may find the label “terror” in the title extreme. In fact, it hadn’t really occurred to me until I read the response of defendants to a suit... READ MORE

Missing participants are a problem—for employers, for plans, for beneficiaries and even for the participants themselves. A Nov. 11 session of ASPPA All Access offered a look at the challenge missing participants pose, and what can—and must—be done to meet it. Maggie Younis, CPC, QPA, QKA, TGPC,... READ MORE

There’s some great news for plan sponsors in the COVID relief bill—a “temporary rule preventing partial plan termination.” The legislative text in the massive (nearly 5,600 page) bill includes in Division EE, Section 209 that “temporary rule preventing partial plan termination.” The provision, for... READ MORE

The Office of Information and Regulatory Affairs of the Office of Management and Budget has outlined the regulatory agenda of the IRS, and the status of the rules that are part of it.  Proposed Rules Reporting and Notice Requirements for Deferred Vested Benefits Under Section 6057. Would provide... READ MORE

Despite the many financial challenges brought on by the global pandemic, the good news is that saving for retirement continues to be a priority.  According to findings from T. Rowe Price’s 6th annual Retirement Savings and Spending survey, the average 401(k) savings rate has remained constant... READ MORE

The month may have ended on a down note, but November turned out to be the best month since 1987 for the Dow—and another good month for the average 401(k).  Among major US stock indexes, the Dow Jones Industrial Average (which crossed the 30,000 mark during the month) recorded its best monthly... READ MORE

Recent reports of 401(k) thefts and an ongoing concern about cybersecurity (should) have everybody on the alert. Here’s some things you, your clients, and their participants should check out—now. Find Your Account(s) It may have been a while since you checked out your 401(k) balance—indeed, many... READ MORE