Advertisement
Regulatory Compliance
The Internal Revenue Service has announced updated deduction limits for high deductible health plans.
For calendar year 2020, the annual limitation on deductions under § 223(b)(2)(A) for an individual with self-only coverage under a high deductible health plan is $3,550, up $50 from the 2019...
READ MORE
UPDATED MAY 24 AT 9:30 A.M. ET
One of the most consequential pieces of retirement security legislation in more than a decade has been approved overwhelmingly by the U.S. House of Representatives.
In a May 23 House floor debate that featured much praise and few objections, the Setting Every...
READ MORE
The fire and ice of dragons in winter – the stuff of mythology. But even the seemingly commonplace can incorporate a dash of mythology as well, as a speaker at the recent Plan Sponsor Council of America (PSCA) annual conference outlined – concerning, of all things, DC plans.
In “Defined...
READ MORE
Former American Retirement Association President Marcy L. Supovitz has been named to the ERISA Advisory Council, which advises the Labor Department on policies and regulations regarding ERISA plans.
The 15-member council (formally titled the Advisory Council on Employee Welfare and Pension Benefit...
READ MORE
Gordon Hartogensis was sworn in as Director of the Pension Benefit Guaranty Corporation on May 15. The U.S. Senate had confirmed him as director on May 1.
Hartogensis, who has worked on Wall Street and also has been an entrepreneur and investor, as well as leader in the technology sector, succeeds...
READ MORE
A key member of Congress has reintroduced legislation that would permit 401(k), 403(b), SIMPLE and governmental 457(b) retirement plans to make matching contributions to workers as if their student loan payments were salary reduction contributions.
Sen. Ron Wyden (D-OR), Ranking Member of the...
READ MORE
With billions of dollars continuing to leave the retirement system early every year, a new report looks at factors that lead individuals to take early withdrawals, as well as policies that may help reduce the incidence.
In “Additional Data and Analysis Could Provide Insight into Early Withdrawals...
READ MORE
That playground see-saw is more than a reverse-direction teeter-totter. It’s an apt simile for the paradox a recent white paper discusses concerning Pension Benefit Guaranty Corporation (PBGC) premiums.
In “The PBGC Premium Burden Report — 2019,” the defined benefit administration and consulting...
READ MORE
The IRS has issued final regulations that amend regulations on user fees for Enrolled Agents (EAs) and Enrolled Retirement Plan Agents (ERPAs). The final regulations affect individuals who are, or apply to become, enrolled agents and individuals who are enrolled retirement plan agents.
The final...
READ MORE
In a big win for ACOPA and the lobbying efforts of its members, the Pension Benefit Guaranty Corporation (PBGC) is looking for comments on a proposal that would allow employers to request coverage determinations prior to establishment of a plan, as part of a new formal process where the PBGC would...
READ MORE
The Pension Benefit Guaranty Corporation (PBGC) has revised the forms by which plan administrators and sponsors fulfill the requirement under Section 4043 of ERISA that they notify the PBGC of certain events that may signal problems with a pension plan or business. The Office of Management and...
READ MORE
The IRS and Treasury are seeking comments concerning the way the Form 5500-EZ is filed. The IRS says that it plans to make the Form 5500-EZ available on the EFAST2 for direct electronic filing instead of using Form 5500-SF.
The Forms 5500 and 5500-SF are filed electronically through the web-based...
READ MORE
The Pension Benefit Guaranty Corporation (PBGC) is seeking the approval of the Office of Management and Budget (OMB) of a collection of information that will help it to determine if certain plans are covered by Title IV of ERISA.
Plan sponsors or plan administrators would use the proposed form and...
READ MORE
So much happening – and there’s an easy way to catch up.
A week ago, the IRS made significant changes to EPCRS by issuing Revenue Procedure (Rec. Proc.) 2019-19, effective immediately – we’re talking self-correction of some of the more common failures relating to participant loans and plan...
READ MORE
Under questioning at a May 1 hearing on Capitol Hill, Secretary of Labor Alexander Acosta appeared to confirm that the Department of Labor will issue a new fiduciary rule.
Acosta appeared before the House Education and Labor Committee for a hearing to examine the policies and priorities of the...
READ MORE
With the recent release of the Social Security Trustees’ 2019 report, there appears to be a renewed focus on Social Security and “stabilizing” the nation’s retirement plan.
Before efforts are made to stabilize Social Security, a hard question must be addressed. As currently designed, is the system...
READ MORE
It’s easy to assume that if everyone did their part individually, a team would function smoothly and efficiently, but group dynamics, synergy and demographics all can either contribute or detract from an investment committee’s effectiveness.
A new white paper the firm Arnerich Massena, “Investment...
READ MORE
Plan sponsors often gloss over the reality that they are ERISA fiduciaries – or think that if they have hired an advisor, they’ve basically hired a stand-in for that responsibility. But there’s another mistake that even the most well-intentioned make – with remarkable frequency, based on what I...
READ MORE
The Internal Revenue Service has announced the expansion of areas for issuing determination letters for certain retirement plans.
Revenue Procedure 2019-20, issued May 1, details two new issues for which retirement plan sponsors may now request determination letters:
Statutory Hybrid Plans –...
READ MORE
Over the past decade and change, there have been a number of high-profile excessive fee suits brought against retirement plan fiduciaries, notably the plan committees that oversee these programs. Here’s what your plan committee members should know.
1. Why they are a member of the committee.
Today...
READ MORE