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Principal Deputy Assistant Secretary for the DOL’s Employee Benefits Security Administration (EBSA) Ali Khawar on July 25 shared with delegates at the 2023 NAPA D.C. Fly-In Forum the key priorities of the department, including new guidance on SECURE 2.0, an update to the fiduciary rule, and... READ MORE
Recent research from the Investment Company Institute (ICI) sought to answer two critical questions on which retirement policy is often based—how do the amount and compositions of spendable income for individuals change from middle to old age? “There are constant proposals to overhaul Social... READ MORE
So what did you want to be when you grew up? Now, I realize that some of you are still growing up—but I’ve never met ANYONE who said “I wanted to work with retirement plans”—and that includes me.  Indeed, what we aspire to become in our youth is complex—and often shaped by our experience(s) at... READ MORE
Following an audit by the Office of the Inspector General (OIG), the Pension Benefit Guaranty Corporation (PBGC) has updated documentation required in order to apply for Special Financial Assistance (SFA).  The OIG recently issued “Audit of PBGC’s Review of Initial Special Financial Assistance... READ MORE
The IRS will accept certain requests that an application for a private letter ruling (PLR) be put on the fast track. The announcement came in Revenue Procedure (Rev. Proc.) 2023-26, issued on July 26.  The acceptance of requests for accelerated processing is a departure from usual procedure: the... READ MORE
A new excessive fee suit challenges the imprudent selection of share classes, the poor selection of a stable value offering AND exorbitant recordkeeping fees. Here we have one participant-plaintiff Robert  Humphries suing based on the actions (or lack thereof) of the fiduciaries of the $700... READ MORE
A federal appellate court has backed the ruling of a lower court, finding that a 401(k) plan’s investment consultant acted prudently, and in the interests of participants in decisions regarding a proprietary CIT. The former participant/plaintiff here (one Benjamin Reetz) claimed that the... READ MORE
July is a good time to take stock of where things stand with respect to the multitude of state laws and programs to address the retirement plan coverage gap in the private sector workforce. By the time July rolls around on the calendar all but a handful of state legislatures have completed their... READ MORE
New regulatory guidance that would permit bankruptcy trustees to use the Department of Labor’s (DOL) Abandoned Plan Program has been submitted to the White House’s Office of Management and Budget (OMB) for review. The new guidance, which was submitted to the agency on July 19, apparently will be... READ MORE
We’ve been calling on all ASPPA members to join us at ASPPA Annual as agents of change to ensure that all working Americans have the ability to save for a dignified retirement. To help us achieve this goal, we’ll give you the resources you need at this event:  presentations that will help you... READ MORE