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The ASPPA College of Pension Actuaries (ACOPA) honored Cynthia A. Groszkiewicz, MSPA, FCA, MAAA, with the 2014 Edward E. Burrows Distinguished Achievement Award on Aug. 16 at the ACOPA Actuarial Symposium in Chicago. Groszkiewicz is the Director of Employee Benefits Services in the Atlanta office... READ MORE

Fidelity has changed the way it manages its 401(k) plan. That took some convincing — it had been sued by 29 current and former employees on behalf of 50,000 of their peers over conflicts of interest in its plan. But the settlement they reached had something for both parties; and for employees, that... READ MORE

The Joint Committee on Taxation (JCT), the congressional scorekeeper of tax legislation, on Aug. 5 issued its latest estimates of the increasing costs of the tax incentives for retirement savings. The numbers are eye-popping. JCT projects that:• the tax exclusion for saving in DC plans will cost... READ MORE

ASPPA and ACOPA, in an Aug. 13 letter to Robert Choi, Director, Employee Plans at the IRS, have requested guidance regarding the application of the funding stabilization provisions in section 2003 of the Highway and Transportation Funding Act of 2014 (HTFA) to plan years beginning in 2013 and 2014... READ MORE

When it comes to savings priorities, a new study indicates that single parents may be putting their children’s college education ahead of their own retirement. Many employer-sponsored plans may have participants who face this choice, which could have consequences for the plan and its administrators... READ MORE

The Wells Fargo/Gallup Investor and Retirement Optimism Index slipped eight points in the second quarter driven largely by a 17-point decline in optimism among retired investors.Nearly nine out of 10 non-retired investors said they are optimistic they will achieve the American Dream versus 77% of... READ MORE

The Government Accountability Office (GAO) has identified companies that offer advances in exchange for receiving all or part of their pension funds and questionable practices that may put plan participants at risk. “Pension Advance Transactions: Questionable Business Practices Identified,” a... READ MORE

The proposal to restructure ASPPA has received a seal of approval, and then some. To be exact, 90% approval of the credentialed members — something beyond even categorization as a landslide. After three weeks of voting, the credentialed members have spoken, and have endorsed the plan heartily. This... READ MORE

So this year’s estimate of when the Old Age, Survivors and Disability Insurance (OASDI) trust fund will run out of money is 2033, the Social Security trustees reported July 28 — roughly the same as last year’s estimate. There’s just one problem: There is no such thing as an OASDI trust fund.There... READ MORE