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The Senate Finance Committee has cleared two pieces of retirement legislation that are now pending before the full Senate, including one that includes a new brand of multiple employer plan (MEP) for the private sector.Meet the PEP — and the PPPOne of the bills, the Retirement Enhancement and... READ MORE
Much has been written about the need to increase participants’ retirement savings during their accumulation phase and help them better prepare for the decumulation phase after retiring. A recent paper argues that while there are challenges, the sky is far from falling — and in fact there is much... READ MORE
A new plan sponsor survey offers insights into the issues regarding retirement income adoption by workplace retirement plans. Service providers may find it instructive in anticipating and meeting plan needs.More than a third of 212 plan sponsor respondents (37%) agree that solvency determination (i... READ MORE
The IRS on Aug. 30 announced a significant relaxation in the restrictions that normally apply to plan loans and hardship distributions to Louisiana flood victims and members of their families.In Announcement 2016-30, the IRS says that the following individuals may be eligible to take advantage of... READ MORE
A new study looks at the benefits of both — and calls into question the conventional wisdom on who benefits most, and how participants should approach those options.In “Tax Uncertainty and Retirement Savings Diversification,” researchers from the University of Arizona and the University of Missouri... READ MORE
The IRS recently issued its 2016-17 Priority Guidance Plan, and it contains an array of goals for projects relevant to retirement plans. The plan outlines objectives the IRS intends to pursue during the period July 1, 2016-June 30, 2017.The IRS’ plans include the following projects relevant to... READ MORE
The IRS has provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day rollover window.In Revenue Procedure 2016-47, the IRS explains how eligible taxpayers, “encountering a variety of mitigating circumstances,” can qualify... READ MORE
There is qualified good news for retirement plans based on results concerning second quarter and July performance, according to two recent analyses.Average 401(k) and IRA balances grew from the first to the second quarter of 2016, reports Fidelity Investments. Average 401(k) balances grew by almost... READ MORE
A new private letter ruling (PLR) from the IRS says that the required minimum distribution (RMD) rules apply to a designated IRA beneficiary even though a state court modified the beneficiary designations. The IRS released PLR 201628006 on July 8.Note that PLRs are applicable only to the specific... READ MORE
This year, there were three named tropical systems in the Atlantic Ocean by June 5 — the first time ever that there were three named storms by such an early date. And two of them made landfall in the United States. With the official Atlantic hurricane season just begun (the National Oceanic and... READ MORE
Many advisors — and advisory firms — have assumed that recommending a recordkeeper under the new fiduciary regulation wouldn’t constitute a fiduciary act. But that assumption may be wrong.The final fiduciary regulation, as did the 2015 proposal, places a great deal of emphasis on investment... READ MORE
The IRS has published final regulations regarding disbursements from a designated Roth account that is directly rolled over to an eligible retirement plan.Specifically, the IRS has removed the requirement that each disbursement from a designated Roth IRA that is directly rolled over to an eligible... READ MORE
Some retirees and IRA holders who turned age 70½ in 2015 had to take required minimum distributions (RMDs) by April 1. Other retirees and IRA holders must take them by New Year’s Eve, as the IRS recently reminded. The Financial Industry Regulatory Authority (FINRA) has taken the opportunity to... READ MORE
Harkening back to a brief reference to benefit portability in the State of the Union address, the Obama Administration has announced its desire to extend Multiple Employer Plan (MEP) access to the private sector.These so-called “open” MEPs are single retirement plans involving two or more unrelated... READ MORE
November was a good month for those who believe that the government should take over the private retirement system.Since far too many Americans continue to lack access to a retirement plan at work, state governments have been legislating retirement policy in recent years to address this significant... READ MORE
Location, location, location. It’s something of a truism about the three things that most affect property values. Apparently it also applies to retirement plan access.Using a pooled version of the 2010-14 Minnesota Population Center’s Integrated Public Use Microdata Series (IPUMS) Current... READ MORE
Just before Christmas, President Obama signed into law H.R. 2029, a massive year-end spending and tax bill containing a number of provisions affecting health and retirement plans. Here’s what you may have missed.H.R. 2029 — now Public Law 114-113 — includes both an omnibus appropriations bill that... READ MORE
Roth IRAs have been a popular way to generate future tax-free growth and income since their creation. Yet the decision to contribute or convert to a Roth IRA incurs an immediate tax liability that could become so heavy as to be destructive. So writes Michael Kitces in “Using Systematic Partial Roth... READ MORE
The Obama Administration recently unveiled its myRA program, a federal effort to encourage retirement savings and provide an easy, low-impact way for those who do not participate in a retirement plan to set something aside. But it’s not the first time the administration has embarked on such an... READ MORE
Several weeks back, I wrote a column entitled, “5 Things Millennials Need to Know About Saving for Retirement.” But what about those at the brink of retirement?Retirement seems close — perhaps too close for the comfort of Boomers, some of whom have already begun cycling into retirement. In fact,... READ MORE

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