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The Department of Labor (DOL) has placed 150 multi-employer pension funds in critical status, and another 85 on the list of plans it calls endangered.According to the DOL: to be in critical condition, a plan has to have so few assets that it cannot meet 65% of its future obligations; and to be...
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Available until February 19, 2016 Speaker: Craig P. Hoffman, ASPPA’s General Counsel and Director of Regulatory Affairs Sponsored by Penchecks Craig P. Hoffman, ASPPA’s General Counsel and Director of Regulatory Affairs, will share insights and help you prepare...
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In addition to proposals for a retirement savings cap, double-taxing contributions of those above the 28% tax bracket, and encouraging automatic enrollment, President Obama’s budget blueprint for fiscal year 2016 contains proposals that would change the tax treatment of IRAs and qualified...
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Americans’ satisfaction with the DC retirement system is on the rise, and they’re averse to the government making any changes to it, a new report by the Investment Company Institute indicates.All told, 71% of households have a favorable impression of 401(k) accounts. That number had held relatively...
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Available through March 5, 2016Speaker: Norman Levinrad, EA, FSPA, MAAA CPC Click HERE to view the webcast outline!IRS Program Number: CZTXU-Q-00473-15-O Actuaries are required to follow Standards of Practice or disclose why they have not done so. ASOPs 4, 27...
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President Obama’s 2016 budget has been issued, and while parts could expand retirement plan coverage, others are likely to undermine those good intentions. No surprise, but the $3 million cap on the value of retirement benefits and the double tax on contributions for those above the 28% tax bracket...
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One of my favorite movies — and perhaps my favorite “holiday” movie — is Groundhog Day, the 1993 film starring Bill Murray as an arrogant weatherman who finds himself stuck in Punxsutawney, Penn. by a blizzard, who then discovers that he is also “stuck” reliving Feb. 2 — over and over and over. A...
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Deferral and savings rates in 401(k) plans improved at a stronger rate than expected in 2014, recent studies reveal.According to Cogent Reports found that almost one-third of participants increased their contributions in 2014. That’s almost 12 percentage points higher than the number who in 2013...
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The Pension Benefit Guaranty Corporation (PBGC) on Jan. 29 announced that the Office of Management and Budget has approved revisions it made to the forms and instructions for standard and distress terminations and missing participants.Under the revisions, a plan administrator of a plan terminating...
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The White House memo on the DOL’s proposal to redefine what constitutes a fiduciary continues to engender negative reaction. Tim Pawlenty, CEO of the Financial Services Roundtable, weighed in on Jan. 28, according to ThinkAdvisor, calling the memo “overly broad” in its condemnation of the financial...
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