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Regulatory Compliance
The IRS Office of Tax Exempt and Government Entities has outlined its priorities for fiscal year (FY) 2020.
“In FY 2019, we implemented and provided additional guidance on TE/GE-related provisions of the Tax Cuts and Jobs Act, and in FY20 we’ll continue to look for ways to help taxpayers and...
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Editor's Note: The House has passed the Coronavirus, Aid, Relief and Economic Security (CARES) Act (H.R. 748 as amended). Read more about that here.
The sweeping $2 trillion stimulus bill that includes retirement relief provisions supported by the American Retirement Association may move one...
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President Trump on March 27 signed into law the sweeping $2 trillion stimulus bill that includes retirement relief provisions supported by the American Retirement Association.
It wasn’t easy – or at least not as easy as it might have been – but the House of Representatives on March 27 approved the...
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It’s not over yet, but after six days of intense negotiations, about midnight on March 25, the Senate unanimously approved a sweeping $2 trillion stimulus bill, including retirement relief provisions supported by the American Retirement Association.
The Coronavirus, Aid, Relief and Economic...
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The American Retirement Association is calling on the Treasury Department to provide funding relief for DC plans to help employers facing significant financial burdens relating to the Coronavirus.
In a March 24 follow-up letter, the ARA notes that it is continuing to receive many questions about...
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The IRS on March 24 updated its website to indicate that it has extended until July 15, 2020 the deadlines for making contributions to workplace-based retirement plans, IRAs and health savings accounts for 2019.
These extensions are in accordance with IRS Notice 2020-18, which extended the...
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With concerns about the impact of the coronavirus and its impact on retirement plans increasing, we expect to shortly have legislation providing some much-needed relief.
The American Retirement Association has been actively advocating for relief for plan sponsors and participants impacted by the...
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As the Senate squabbles over legislation designed to alleviate the impact of the coronavirus, the Speaker of the House has unveiled a version with slightly different provisions regarding retirement plans.
House Speaker Nancy Pelosi (D-CA), contending that the Senate Republicans’ bill “put...
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The challenges surrounding missing participants are growing. A recent Plan Sponsor Council of America (PSCA) webcast outlined what that means for plans and what plan sponsors and administrators can do to meet those challenges.
In “Missing Participants: Latest on DOL Audits of Retirement Plans,”...
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The American Retirement Association, along with two dozen other trade organizations, are urging Congress to provide immediate relief to retirement plan sponsors, participants and retirees in the wake of the Coronavirus.
“The undersigned organizations, which represent plan sponsors and service...
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A revised version of the CARES Act includes additional retirement relief provisions supported by the American Retirement Association, though the negotiations aren’t over yet.
After engaging in weekend negotiations with Senate Democrats and Trump administration officials, Senate Majority Leader...
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The CARES Act includes provisions advocated by the American Retirement Association that loosen retirement plan hardship and loan rules to free up funds for individuals impacted by the Coronavirus pandemic.
Life (and legislation) has been coming at us fast in March, as the country and Congress...
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The American Retirement Association has reached out to members of Congress with proposals to help alleviate cash flow issues for small businesses with retirement plans.
The ARA, whose broad membership consists of service providers and plan sponsors, strongly supports immediate defined contribution...
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The American Retirement Association has been working with key lawmakers to include legislation that would provide tax relief to individuals and employers that suffer a sustained economic loss from the COVID-19 outbreak.
The relief would be patterned after the disaster relief that was provided in...
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The American Retirement Association (ARA) is pressing the IRS to extend the remedial amendment period for 403(b) plans by one year.
The ARA made the recommendation in a March 16 letter to Cathy Jones, Director of the IRS Office of Employee Plans, in which it comments on the 403(b) plan remedial...
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Considering the ongoing and future business impacts of the coronavirus, the American Retirement Association asked the Treasury and DOL for relief from certain retirement plan filing deadlines.
“The American Retirement Association is writing to request relief from certain provisions under the...
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The Advisory Council on Employee Welfare and Pension Benefit Plans has released a report that addresses improving the financial statement audit process.
The report comes after review by the Council of many aspects of the audit process; that included hearing testimony by American Retirement...
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The DOL’s Advisory Council on Employee Welfare and Pension Benefit Plans has released a report addressing transfers of uncashed distribution checks that ERISA plans issue to state unclaimed property programs.
In “Voluntary Transfers of Uncashed Checks from ERISA Plans to State Unclaimed...
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Once again, a prudent process has won the day in court for retirement plan fiduciaries.
In the case at hand, plaintiff Bonnie Birse, a participant in the CenturyLink Dollars & Sense 401(k) Plan since 2012, and invested in the plan’s 2015 Target Date Fund, argued that CenturyLink’s...
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California’s auto-IRA program for private sector workers has prevailed against claims that it runs afoul of ERISA’s preemption.
The suit, filed in the U.S. District Court for the Eastern District of California in 2018 by the Howard Jarvis Taxpayers Association, Jonathan Coupal and Debra Desrosiers...
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