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Having cybersecurity measures in place is an important step to protect a retirement plan, as well as well as those that serve as plan fiduciaries. But cybersecurity steps are only at half strength if only management and the plan sponsor and fiduciaries implement and follow them, argues a recent...
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The IRS has identified errors that result in voluntary correction program (VCP) applications being incomplete. It reports that it did so during the process of streamlining its processes for identifying VCP submissions that can be closed quickly.
The IRS has updated its website to reflect its...
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The Senate recently confirmed a new IRS Commissioner, and has scheduled a hearing for the nominee to serve as PBGC Director, but the chamber is still waiting for a nominee to replace a Democratic SEC Commissioner.
Full Plate Awaits Newly Confirmed IRS Commissioner
An extensive to-do list awaits...
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Recent survey results reveal that a majority of workers believe that financial wellness programs could help increase their productivity.According to a new report by the Employee Benefit Research Institute (EBRI), “Perceived Helpfulness of Financial Well-being Programs: Results from the 2017 and...
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ASPPA has received several reports of incorrect Form 5558 acknowledgments being received by plans that had timely filed to extend the filing deadline for their 2017 Form 5500. In some instances, the acknowledgments are reflecting the extension request as relating to an incorrect plan year (e.g.,...
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The rules on rollovers have changed – most recently as a part of tax reform – and the IRS has now updated the safe harbor notices.
IRS Notice 2018-74 modifies the two safe harbor explanations in Notice 2014-74 that may be used to satisfy the requirement under Section 402(f) of the Internal Revenue...
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The IRS has granted a variety of forms of relief for victims of Hurricane Florence. The relief is for individuals as well as businesses, and includes requirements related to compensation.
As of Sept. 17, individuals who reside or have a business may qualify for tax relief in the following North...
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Step inside the chamber, and we will gaze at the crystal ball. ASPPA’s Sept. 11 invitation offered a look at seven trends in the retirement industry that will have a significant impact — and, in fact, already are.
In “Didn’t See THAT Coming: Seven Industry Trends Will Shape the Future,” American...
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The Department of Labor (DOL) recently announced the creation of a new Office of Compliance Initiatives (OCI) to promote greater understanding of federal labor laws and regulations, including those involving retirement security, health, and other employee benefits.
Established within the Office of...
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Human nature affects behavior — including savings behavior. A recently released white paper argues that if employers and plan professionals understand human nature, they can better help employees’ saving rates improve — and that includes saving for retirement.
In the August 2018 white paper “The...
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