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Gordon Hartogensis, President Trump’s nominee to serve as Director of the Pension Benefit Guaranty Corporation (PBGC), testified and answered questions at a confirmation hearing the Senate Finance Committee held on Sept. 27. Senators questioned Hartogensis regarding his views on the health of the... READ MORE
The House of Representatives approved legislation Sept. 27 that seeks to make it easier for businesses to offer retirement plans and for individuals to save for retirement. The Family Savings Act (H.R. 6757) now moves to the Senate, which may take up similar legislation in a lame duck session... READ MORE
Principal Life Insurance Co. has won summary judgment in a case that had alleged the firm took excessive profits from the guaranteed investment products it sells to 401(k)s.The decision (Rozo v. Principal Life Ins. Co.), S.D. Iowa, No. 4:14-cv-00463-JAJ, order granting defendant’s motion for... READ MORE
Are you in need of Continuing Education Credits before the 2018 reporting year ends? ASPPA’s Cincinnati Regional Conference on Nov. 12-13 offers up to 17 ASPPA, JBEA and ERPA CE Credits. Here are several hot topics that will be covered at the conference, just to name a few: Living Through IRS... READ MORE
With the House of Representatives poised to take up the second round of tax reform, a couple of changes have been made to the retirement section of the legislation.On Sept. 25, House Ways and Means Committee Chairman Kevin Brady (R-TX) offered a “manager’s amendment” to the Family Savings Act (H.R... READ MORE
Although recently overshadowed by the buzz around multiple employer plans, the American Retirement Association recently met with the Department of Labor (DOL) about another aspect of President Trump’s Aug. 31 Executive Order.In April, the ARA and the Investment Company Institute released an updated... READ MORE
A recent white paper discusses a strategy for reducing PBGC premiums and why it may have a cost of its own. In “PBGC Staff Express Concern Over Premium Reduction Strategy,” Daniel Lennington, Director of Defined Benefit Advisory for Lockton Insurance Services, notes that some plans have adopted a... READ MORE
The IRS has issued an early draft version of the Form 5500-EZ to be used when filing data from 2018. It is solely a draft the IRS says it has provided as a courtesy, and is not to be used for filing. The draft of the 2018 Form 5500-EZ does not show any changes from the 2017 Form 5500-EZ, with the... READ MORE
Wasting no time, the Labor Department has delivered its proposed rule to expand access to multiple employer retirement plans to the Office of Management and Budget for review.It was less than a month ago that President Trump signed an executive order directing the Departments of Labor and Treasury... READ MORE
Collective investment trusts (CITs) have long been heralded as “the next big thing” in the DC industry, but a new report suggests that, in recent years, the market has turned a corner. The third quarter 2018 issue of The Cerulli Edge—U.S. Retirement Edition finds that CIT adoption is finally... READ MORE
More 401(k) plan participants held equities at year-end 2016 than before the financial crisis, but participants continue to shy away from investing in their own companies’ stock, preferring more diversified investments, new data shows.According to the Employee Benefit Research Institute (EBRI) and... READ MORE
Unfazed that the Department of Labor (DOL) fiduciary rule has been rendered moribund, the Garden State is forging ahead with its own.The 5th Circuit Court of Appeals may have essentially struck down the federal rule, but that has nothing to do with the ability of the states to craft and implement... READ MORE
The practice of retiring and retirees receiving benefits in some fashion has only been around for a little over a century, right? Wrong! It’s been around for thousands of years.In “The History of Retirement,” SageView Advisory Group outlines when retirement, and associated payments, began and how... READ MORE
The Department of Labor’s (DOL) fiduciary rule may be moribund, but that doesn’t mean that investment fiduciary standards are — including best interest standards. A recent blog post by Fred Reish discusses how to best meet the various such standards that are in place. In “Best Interest and Best... READ MORE
The Senate recently confirmed a new IRS Commissioner, and has scheduled a hearing for the nominee to serve as PBGC Director, but the chamber is still waiting for a nominee to replace a Democratic SEC Commissioner. Full Plate Awaits Newly Confirmed IRS Commissioner An extensive to-do list awaits... READ MORE
Recent survey results reveal that a majority of workers believe that financial wellness programs could help increase their productivity.According to a new report by the Employee Benefit Research Institute (EBRI), “Perceived Helpfulness of Financial Well-being Programs: Results from the 2017 and... READ MORE
The IRS has granted a variety of forms of relief for victims of Hurricane Florence. The relief is for individuals as well as businesses, and includes requirements related to compensation. As of Sept. 17, individuals who reside or have a business may qualify for tax relief in the following North... READ MORE
Step inside the chamber, and we will gaze at the crystal ball. ASPPA’s Sept. 11 invitation offered a look at seven trends in the retirement industry that will have a significant impact — and, in fact, already are. In “Didn’t See THAT Coming: Seven Industry Trends Will Shape the Future,” American... READ MORE
Is it appropriate for traditional life insurance to be connected with retirement plans? A feature article that appeared in the Summer 2018 issue of Plan Consultant magazine offers a refresher on split-funded funds and the interaction between retirement plans and life insurance.“Delicate Interaction... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) is issuing rules to implement its authority to facilitate mergers and transfers between multiemployer pension plans, the agency announced on Sept. 13. The final regulation updates the general requirements on plan mergers and transfers of plan assets... READ MORE

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