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An annual study that assesses agreement between married partners on communication and knowledge of finances uncovers several disconnects related to their retirement outlook.Fidelity’s Couples & Money Study reveals that more than 4 in 10 couples disagree when asked about what age they plan to... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) is seeking approval from the Office of Management and Budget (OMB) to extend the collection of information concerning regulations related to multiemployer pension plans. Absent the extension, OMB approval will end on Nov. 30, 2018.The PBGC wants the... READ MORE
As we celebrate the Declaration that marks the birth of this nation, it seems a good time to reflect on some lessons from that experience that hold true even today. Inertia is a powerful force. By the time the Second Continental Congress convened, the “shot heard round the world” had already been... READ MORE
New research reveals that many 401(k) plan participants still do not know what to do with their proverbial “pile of money” at retirement and need guidance. Findings from “The Cerulli Edge ? U.S. Retirement Edition, 2Q 2018 Issue” show that participants aren’t always clear on what they should do... READ MORE
Ascensus announced July 3 that it is acquiring INTAC Actuarial Services, Inc. (INTAC). The New Jersey-based TPA will become part of Ascensus’ expanding TPA Solutions Division. INTAC, based in Ridgewood, NJ, works with approximately 3,000 small to mid-sized plans, as well as business owners, key... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) has announced that it is changing the way provides relief when a disaster happens. The PBGC often grants relief from certain obligations and deadlines when disasters occur.Previously, the PBGC granted relief through stand-alone announcements each time... READ MORE
The Plan Sponsor Council of America (PSCA), a part of the American Retirement Association (ARA), has submitted written recommendations for guidance on missing participants to several agencies including the Department of Labor (DOL), the Treasury Department and IRS. The PSCA provided this letter in... READ MORE
It’s easier than you think…All you have to do is (a) encourage your plan sponsor clients to participate in the survey, and (b) have them note your referral in their response.Then both you – and your plan sponsor client/prospect – will receive a FREE copy of the industry’s longest running and most... READ MORE
For younger employees, setting aside money for retirement can take a back seat to the more immediate need to pay off student loan debt — a choice that can have long-term consequences. But at Abbott Laboratories, a new benefit provides some relief from that uncomfortable position. Abbott announced... READ MORE
Ascensus announced June 28 that it will acquire QBI, LLC. The California-based third-party administrator will become part of Ascensus’ expanding TPA Solutions Division.QBI, based in Woodland Hills, Calif., works with more than 3,500 plans and has more than 80 employees. In a press release, Ascensus... READ MORE
Would you, or someone you know, like to receive the Qualified 401(k) Administrator (QKA) credential? This credential is ideal for retirement plan professionals looking to further their careers. PenChecks Trust Company of America (PenChecks Trust®) and the American Society of Pension Professionals... READ MORE
Massachusetts Secretary of the Commonwealth William F. Galvin has charged MetLife with making misleading statements relating to its failure to make pension payments to hundreds of Massachusetts retirees.The complaint filed by Galvin’s office alleges that MetLife’s public filings contained material... READ MORE
The American Retirement Association is asking Congress to expand the self-correction program (SCP) within the IRS’ Employee Plans Compliance Resolution System (EPCRS) to enable businesses with retirement plans to more easily correct common mistakes.The request – in the form of a June 26 letter to... READ MORE
One of my favorite cinematic quotes is from that Clint Eastwood classic, “Dirty Harry.”It comes at the very beginning of the movie — there’s a bank robbery in process, and Clint Eastwood (in the personage of Inspector “Dirty” Harry Callahan) is trying to wolf down a hot dog when the commotion... READ MORE
You may have missed it, but there was a bit of a “twitter storm” regarding retirement recently.More specifically, a relatively innocuous post about how much a 30-year-old should have saved toward retirement got a lot of 35-year-olds stirred up. The CBSMarketwatch article quoted Fidelity as saying... READ MORE
“The dog ate my homework.” We all miss deadlines. But sometimes there are extenuating circumstances, as even the IRS recognizes — for instance, regarding required minimum distributions (RMDs).   In a recent PenChecks Trust blog entry, longtime ASPPA member Bill Grossman, Managing Member of WCG... READ MORE
Nominations are now being accepted for ASPPA’s Leadership Council. Elected at-large members of the Leadership Council serve for one term of four calendar years. Nominees must be credentialed ASPPA members nominated by at least two members to be considered. To download the nomination form, click... READ MORE
Times have been good lately for investors, with proof not only in strong market returns but also solid investor returns, according to Morningstar’s 2018 “Mind the Gap” study.Among the key takeaways from this year’s report are that the gap improved for U.S. equity, balanced and municipal bond funds... READ MORE
In what looks to be a first in excessive fee litigation, a court has ordered plaintiffs to produce some Facebook posts.In this excessive fee suit, the plaintiffs charge — as others have in similar actions — that the fiduciaries of the $5.1 billion Anthem 401(k) Plan (formerly the WellPoint 401(k)... READ MORE
Ascensus announced June 19 the acquisition of Swerdlin & Company and SES Advisors. Both firms will become part of the firm’s TPA Solutions division.Swerdlin & Company provides actuarial, consulting, administrative and recordkeeping services for all types of retirement, health and cafeteria... READ MORE

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