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Technical Resources
We now know the terms of an excessive fee lawsuit settlement reported a month ago.In early July, Deutsche Bank Americas Holding Corp. settled claims of a class action brought by Ramon Moreno and Donald O’Halloran, former participants in the Deutsche Bank Matched Savings Plan. The parties informed...
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Join ACOPA on Thursday, August 23 for a webcast on PBGC filing requirements for reportable events and premiums. It will be held from 2:00 -2:50 PM EDT.
The webcast is intended to provide an understanding of what’s required, as well as common mistakes, to help you make sure your clients are in...
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A majority of DC plan participants want the help of an expert in managing retirement assets, but many still stop short of wanting employers to choose their investments for them, new survey results show.According to J.P. Morgan’s 2018 Defined Contribution Plan Participant Survey, more than half of...
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Timing is everything, it is said. That premise can hold regarding retirement as well — for employers as well as employees, says a recent blog entry.
In its recent blog entry “When Employees Retire Matters to Them… and to Employers,” Fiduciary Plan Governance, LLC argues that when an employee...
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Information letters, regulations, legislation aplenty — in ASPPA’s third quarter Washington Update, American Retirement Association Director of Technical Education Robert Kaplan provided his take and insights.
At the IRS
IRS information letters are always relevant — Kaplan remarked that he finds...
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Washington, and federal agencies, are rife with an alphabet soup of acronyms — and the IRS is certainly part of it. A recent blog entry addresses some of the collections of letters applicable to auto-enrollment.
In “Making Sense of Auto-Enrollment Rules,” Michael Webb of Cammack Retirement...
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The judge in a recent excessive fee case decision had a lot to say – about the plan committee members – and the expert witnesses called to testify.
I’m talking about the recent decision in Sacerdote v. N.Y. Univ., S.D.N.Y., No. 1:16-cv-06284-KBF, judgment 7/31/18, a suit brought by participants in...
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The Treasury Department and the IRS issued proposed regulations Aug. 8 on the deduction for qualified business income under the new Code Section 199A.
Enacted as part of the Tax Cuts and Jobs Act (TCJA), the new Section 199A provides a deduction of up to 20% of income from a domestic business...
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Multiple employer plans (MEPs) continue to generate plenty of discussion.The reason is the Small Business Employees Retirement Enhancement Act, introduced earlier this month by Sen. Tom Cotton (R-AR), which includes provisions regarding so-called “open” MEPs, a type of employee benefit plan that...
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While the vast majority of active retirement savers agree that accumulating enough savings is an important factor in their ability to retire comfortably, a significant subset is worried they’re already too far behind to reach their goals, a new study finds.According to Allianz Life’s Chasing...
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The American Retirement Association has weighed in on the SEC’s Regulation Best Interest proposal.Overall, the ARA’s Aug. 3 comment letter commends the commission’s efforts to tailor the proposed rules to “preserve investor choice with regard to business models and compensation practices in a...
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Things continued to heat up in July for those average 401(k) balances.According to estimates from the nonpartisan Employee Benefit Research Institute (EBRI) based on the actual contribution records and investment choices of several million consistent participants in the EBRI/ICI database, the...
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Summer can be a great time to catch up on continuing education credits — and ASPPA has plenty of easy-to-access alternatives. We’ve got great information on compelling topics — and you can do it all without leaving your desk (or hammock).
Upcoming Live Webcasts
August 29 — How a Defined Benefit...
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Bipartisan legislation has been introduced in the U.S. Senate that would expand the ability of certain retirement plan sponsors to correct inadvertent compliance errors under the IRS’ Employee Plan Compliance Resolution System (EPCRS).
The bipartisan duo of Sens. Rob Portman (R-OH) and Ben Cardin...
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Legislation has been introduced in the U.S. Senate that would give any worker not currently covered by an employer-sponsored retirement plan access to a new type of retirement savings account.The American Savings Act, first introduced in January 2016 and reintroduced July 19 by Sen. Jeff Merkley (D...
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Eleven states and the District of Columbia have filed suit challenging the Department of Labor’s recently finalized association health plan (AHP) rule.
Arguing that the rule is unlawful and should be vacated, the state attorneys general from California, Delaware, Kentucky, Maryland, Massachusetts,...
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It isn’t hard to find a plan that has invested in target date funds (TDFs). But it can be hard to find assessments that ask hard questions about them. A recent white paper fills that void and asks whether TDFs are the panacea some may think.In “Are Target-Date Funds Enveloped by Unrealistic...
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Securities and Exchange Commissioner Hester Peirce on July 24 argued that the proposed Regulation Best Interest would set clear standards, even though the word “fiduciary” is not directly incorporated in the proposal.Addressing critics who remain unsatisfied, Peirce, who was sworn in in January...
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An unspecified number of participants in plans recordkept by Vanguard were told their loans had been processed. But they hadn’t.
Furthermore, according to the Wall Street Journal (subscription required) the loans hadn’t been requested.
The text message informed recipients that their loans had...
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The Pension Benefit Guaranty Corporation announced July 25 that it has launched a new web page that compiles PBGC officials’ responses to questions received from practitioners about Title IV requirements.
The questions and answers — 29 in all — cover issues in eight categories:
Section 430(k)...
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