Advertisement
Topics
While many would argue that comparing the returns of DB and DC plans is not an apples-to-apples analysis, a new report examines the plan performance gains that DC plans have made against DB plans.CEM Benchmarking’s report, “Defined Contribution Plans Have Come a Long Way,” finds that DB funds have...
READ MORE
For the moment, anyway, the Old Line State has stepped back crossing a line that would have established its own fiduciary rule.On March 19, the Financial Consumer Protection Act of 2018 (MD SB 1068) passed out of the Maryland Senate Finance Committee favorably with amendments just a week after the...
READ MORE
There is still some time to make a contribution to an IRA and be able to claim it on a 2017 tax return — but not much. The IRS issued a reminder on March 20 that anyone with an IRA may be eligible for a tax credit or deduction on their 2017 tax return if they make contributions by April 17, 2018....
READ MORE
Employers are taking steps to improve the financial well-being of their workforces — but there’s evidence that some of their efforts could actually be creating more financial stress for workers.A new report from the nonpartisan Employee Benefit Research Institute (EBRI) notes that move toward...
READ MORE
The National Tax-Deferred Savings Association (NTSA), a part of the American Retirement Association (ARA), is pleased to share a new offering with its membership — the NTSA Advocacy and Resource (ARC). The NTSA ARC is a member-only website featuring an interactive 403(b)/457 plan industry advocacy...
READ MORE
The Washington State Department of Commerce on March 19 announced the launch of the state’s Retirement Marketplace, a virtual marketplace in which financial services firms will offer low-cost retirement savings plans to businesses with fewer than 100 employees, including sole proprietors and the...
READ MORE
The Department of Labor (DOL) has been investigating your client’s plan, and release of its findings is imminent. There’s not much guidance on how to avoid running afoul of the rules, but that doesn’t mean you’re helpless.
In “How to Respond to DOL Pension Plan Investigatory Findings,” an entry in...
READ MORE
While it’s hardly a new topic, the subject of missing participants is much in the news today — and arguably a growing concern for plan sponsors, particularly with the expansion of automatic enrollment.Earlier this year the Government Accountability Office (GAO) published a report — and some...
READ MORE
New research suggests that the best ways of motivating participant behaviors differ depending on whether the plan relies on voluntary or automatic enrollment.The research, published by the TIAA Institute, concludes that the choice of automatic or voluntary enrollment influences the mechanisms...
READ MORE
The IRS on March 16 announced that it has modified its procedures for issuing opinion and advisory letters for pre-approved master and prototype and volume submitter plans. The changes are contained in Revenue Procedure (Rev. Proc.) 2018-21 and are effective as of March 16, 2018.In short, the IRS...
READ MORE
The IRS on March 15 issued a reminder that the retirement plan participants and holds of IRAs and IRA-based plans who attained age 70½ during 2017 must starting receiving required minimum distributions (RMDs) by April 1, 2018.The deadline applies to all employer-sponsored retirement plans,...
READ MORE
The IRS on March 14 announced that it is retroactively cutting the user fee involved in using Form 5310, Application for Determination for Terminating a Plan. It made the announcement in Revenue Procedure (Rev. Proc.) 2018-19.
Rev. Proc. 2018-19 modifies Rev. Proc. 2018-4. Specifically, Rev. Proc...
READ MORE
A recent blog post argues that it is wise for plan fiduciaries to be aware of the importance of plan documents in meeting their fiduciary duties.In “Those Pesky Plan Documents…What Do They Have To Do With my Fiduciary Duties?” an article in a recent Boutwell Fay, LLP newsletter, Deborah Fabricant...
READ MORE
The fiduciary rule kept its winning streak intact in the first ruling by a federal appellate court.This time it was the U.S. Court of Appeals for the 10th Circuit weighing in (Mkt. Synergy Grp., Inc. v. U.S. Dep’t of Labor, 10th Cir., No. 17-3038, decision affirming ruling for defendants 3/13/18)...
READ MORE
Another state-run IRA retirement plan for private sector workers is gearing up to go live.The investment board for California’s Secure Choice program (now renamed “CalSavers”) has approved final regulations and authorized its staff to search for a company to administer the program, according to the...
READ MORE
While the majority of HSA account holders are spenders, a new report indicates a potential shift in the saver/spender trend, as more employees express concern with health care costs in retirement.ConnectYourCare’s 2018 report — “CDH Account Trends: Tax-Advantaged Account Usage, Outlook and...
READ MORE
We all know (or should know) that defined benefit plans that are qualified (or were ever qualified) are subject to the minimum funding standards of the Internal Revenue Code (IRC).[1] Also, title I of the Employee Retirement Income Security Act of 1974 (ERISA), as amended, contains minimum funding...
READ MORE
The Joint Select Committee on Solvency of Multiemployer Pension Plans, the bipartisan, bicameral body created by the Bipartisan Budget Act to look for ways to improve the solvency of multiemployer plans, held its first meeting on March 14. It was an organizational business meeting to consider...
READ MORE
Do you have a plan administration problem that is keeping you up at night or causing a disagreement among your colleagues at work? Are you wondering if there is a better way to resolve a plan issue?If so, we have a session for you at the ASPPA Eastern Regional Conference to be held in Philadelphia...
READ MORE
The Pension Benefit Guaranty Corporation (PBGC) has proposed a rule that would conform its regulations to changes in the phase-in rules for owner-participants under the Pension Protection Act of 2006 (PPA).The PPA changed special provisions in Sections 4022 and 4044 of ERISA that make the PBGC’s...
READ MORE