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Securities and Exchange Commission Chairman Jay Clayton reiterated on Oct. 4 that he is “focused on the standards of conduct” for investment professionals. He made his remarks in testimony before the House Financial Services Committee concerning the SEC’s agenda, operation and budget.Clayton’s...
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The IRS announced on Oct. 3 that it has updated the static mortality tables for defined benefit plans for 2018. It made the announcement in Notice 2017-60.Notice 2017-60 sets forth: the mortality table to be used to determine minimum lump sums for distributions during stability periods beginning in...
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A bipartisan group of U.S. Senators and Representatives on Oct. 3 announced that they are introducing legislation to protect the pensions of retired miners. All hail from states where there is heavy mining activity.Sens. Joe Manchin (D-WV) and Shelley Moore Capito (R-WV) have introduced the Senate...
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The prospects — and potential threats — posed by tax reform are much on all our minds as ASPPA Annual nears. Policy makers are telling us that wholesale retirement reform could be on their agenda soon, and are asking for our ideas on solving coverage and benefit security challenges. We’d like to...
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To help plan sponsors insure their employees’ data is protected within their retirement plan, new industry best practices for how recordkeepers should report their cybersecurity capabilities to plan sponsors and plan consultants has been developed by the SPARK Institute.“For years plan sponsors...
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The Pension Benefit Guaranty Corporation (PBGC) seeks to expand the ways single-employer plan administrators submit plan termination forms, as well as the ways plan sponsors can contact the PBGC for pre-filing consultations before filing for a distress termination.The PBGC announced on Sept. 27...
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OregonSaves, the state-run retirement run by the Oregon Retirement Savings Board, now covers more than 2,000 employees. The state Treasury has provided a report on the status of the program as it approaches full implementation.
The OregonSaves pilot program expanded in August and September and now...
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If you had a choice between paying a 25% tax on your income or a 35% tax on your income, which would you choose?
That’s the choice small business owners could be asked to make under the new tax reform just unveiled by Congress and the White House that includes a 25% “pass-through” cap on tax rates...
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The Pension Benefit Guaranty Corporation (PBGC) announced on Sept. 29 that it has extended the hurricane relief that it announced on Sept. 12 for victims of Hurricane Irma.
In Disaster Relief Announcement Number 17-16 the PBGC said that it is waiving certain penalties and extending certain...
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Retirement industry leaders appearing at a recent Capitol Hill event generally agreed that building on the existing system would dramatically improve the retirement readiness of Americans throughout the country.In what turned out to be coincidental timing, the Financial Services Roundtable hosted a...
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