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Mere days after publishing a request for comments on a proposed exemption, the Department of Labor has now issued an advisory opinion (AO) regarding a specific auto portability program.
The DOL advisory opinion, dated Nov. 5, 2018, outlines the particulars of a program developed by the Retirement...
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New research published by the National Tax-Deferred Savings Association (NTSA) confirms that there is a connection between the number of options – and advisors – available to employees in public education 403(b) plans and participation and contribution rates in those plans.
Those findings are...
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The 2018-2019 Treasury Priority Guidance Plan includes more than 60 regulatory projects relating to implementation of the Tax Cuts and Jobs Act that the agency intends to address in the coming year.
Overall, the plan contains 239 guidance projects that will be the focus of efforts through June 30...
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With the impetus of the Bipartisan Budget Act of 2018, the IRS has provided for comment some much-anticipated new proposed regulations on hardship distributions.
Generally speaking, the changes will make it easier for participants to get, and to get more, when requesting a hardship distribution –...
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In the Fourth Quarter 2018 Washington Update, American Retirement Association Director of Technical Education Robert Kaplan provided an overview of recent executive, regulatory and legislative developments affecting retirement plans.
MEPs
Kaplan highlighted the attention President Trump’s Aug. 31...
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“Unintended consequences” are generally a bad thing. But not always. The 401(k), for example.
We have just celebrated the birthday of the 401(k) – the anniversary of the day on which the Revenue Act of 1978 – which included a provision that became Internal Revenue Code (IRC) Sec. 401(k) – was...
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Today’s typical histrionic, hyperbolic headline: “Retirement Crisis: Workers Can’t Afford to Save for Retirement Due to Crippling Out-of--Pocket Medical Expenses and Crushing Student Debt!”1 The accurate rewrite: “Saving for Retirement Is Doable — Almost all Workers Have Low, Budget-able Out-of-...
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The parties in yet another proprietary fund suit have come to terms, rather than go to trial.
The defendants here are Jackson National, sued by an employee/participant (Becky A. Matthews Pease) who had charged that 89% of the $608,784,892 in plan assets were “…invested in high cost and poorly...
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Much is said about the need to increase retirement savings and access to plans, but a recent report on savings says that there is some good news about retirement savings.
In its annual savings trends report, Ascensus includes data on retirement savings in the results, and it notes that there are...
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The IRS has announced that it has granted tax relief to certain victims of Hurricane Michael in Alabama. The IRS action includes relief from penalties on payroll and excise tax deposits due on or after Oct. 10, 2018, and before Oct. 25, 2018, which it says will be abated as long as the deposits are...
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