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At the recent PSCA national conference, ARA CEO Brian Graff and EBSA Assistant Secretary Lisa M. Gomez discussed a wide range of topics, including the many misunderstandings about cyber liability insurance (which could be a huge fiduciary failure) and the ESG rule.    This session follows Graff... READ MORE
Retirement Clearinghouse, a Charlotte, NC-based firm, which helps to automatically move participant’s retirement account balances from a former employer to their new employer, has notified individuals in various states of a data breach.   As many as 10,509 individuals may have had their personal... READ MORE
The Treasury Department and the IRS seek feedback regarding the tax treatment of a nonfungible token (NFT) as a collectible under the tax law. The matter has relevance not only for saving and investment, but also for IRAs.  The announcement comes in IRS Notice 2023-27.  The IRS also seeks... READ MORE
It is a growing club that no one wants to join: the club of companies who became victims of cyberterrorism. Whether the release of credit card data from the infamous Target inside job, the gas pipeline shutdown at Colonial Pipeline, or the more recent CNA Financial ransom attack, it is often not a... READ MORE
The IRS has issued proposed regulations on the use of  electronic media to make participant elections and spousal consents. The proposed regulation generally affects sponsors and administrators of, and individuals entitled to benefits under, certain qualified retirement plans. The proposed... READ MORE
The Certified Financial Planner Board of Standards (CFP Board) has released a new guide about cryptocurrency-related assets to help CFP professionals uphold the Code of Ethics and Standards of Conduct (Code and Standards) in their practices. While the same standards apply to cryptocurrency-related... READ MORE
Mobile apps increasingly have become the first resource that investors consult to review their investments, make transactions and conduct research, positioning digital as a critical component of the wealth management client experience, a new study suggests.   According to J.D. Power’s 2022 U.S.... READ MORE
The IRS has issued an updated version of Publication 4810, Specifications for Electronic Filing of Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits. The IRS has done so for use in reporting about tax year 2022. Publication 4810 provides... READ MORE
The SPARK Institute recently updated its Industry Best Practices for Cybersecurity and released a new Plan Sponsor & Advisor Guide to Cybersecurity to accompany it. As part of its efforts to help strengthen cybersecurity throughout the retirement industry, the organization’s Data Security... READ MORE
You may have missed it, but there’s been a bit of a “hub-bub” brewing on social media…about the impact of, and perhaps even the utility of, social media. Here’s some thoughts — and some tips.  JD Carlson of Retireholics “fame” kicked things off with a post intriguingly titled “Forget About Social... READ MORE
A recordkeeper that has sued the Labor Department based on its comments regarding cryptocurrency in defined contribution plans has told a federal judge it’s fine with dismissing its suit—if the court will hold the agency to its previous statements. Basically, the ForUsAll plaintiffs—a 401(k)... READ MORE
The newest digital edition of ASPPA’s members-only magazine has been posted online! How do you communicate with clients about complex administrative topics? In our Fall cover story, Shannon Edwards and Justin Bonestroo offer some valuable tips in four key areas. In this issue’s feature articles,... READ MORE
ForUsAll has announced that 50 companies are now live with the Alt401(k) — staking out a claim to be the first to “deliver crypto in the 401(k).” According to a press release, their retirement platform “…gives employees the freedom to invest part of their 401(k) in potentially higher-growth... READ MORE
Cybersecurity may feel like an unending purgatory of whack-a-mole. But an expert panel at an Oct. 25 session of the 2022 ASPPA Annual Conference offered some tips that can help lead one closer to the promised land of greater security.  “Cyber Cyphers: Tips, Tricks and Practice Shifts that Can Keep... READ MORE
Claiming that “granting Defendants’ Motion would invite a brave new world of agency lawlessness,” the ForUsAll plaintiffs that have sued the Labor Department based on the impact of the latter’s position on cryptocurrency investments in retirement plans, have moved to dismiss their motion to dismiss... READ MORE
Having been sued for issuing its Compliance Assistance Release on cryptocurrency by cryptocurrency recordkeeping platform provider ForUsAll, the Department of Labor (DOL) is pushing back. In fairness, ForUsAll describes itself a little differently — as a “modern” 401(k) provider that also offers... READ MORE
The pilot of the Colorado SecureSavings, the Centennial State’s state-sponsored retirement savings program for those whose employers do not offer a retirement plan, will launch in October.  The pilot will not be broadly open; the Colorado Secure Savings Board is set to work with a select group of... READ MORE
Retirement plan providers are increasing their efforts to encourage saving by redesigning online participant experiences with simplicity and personalization in mind, according to a new report from Cerulli.    In fact, plan providers are making sizable investments in digital technology to enhance... READ MORE
Three Senate Democrats have written to Fidelity, raising concerns once again about the “dangers” associated with investing in bitcoin and digital assets, especially within retirement plans.  In their July 26 letter to Fidelity Investments CEO Abigail Johnson, Sen. Dick Durbin (D-IL), the Senate’s... READ MORE
The prospect of 401(k) plans adding cryptocurrency to their plan menu is like waiting for “fruit to ripen,” according to a plaintiff’s lawyer who spoke as part of a July 26 “Lessons from Litigation” panel at the 2022 NAPA D.C. Fly-In Forum.   Attorney Mark Bokyo (at right in photo), a Partner with... READ MORE