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A federal appeals court has affirmed summary judgment in a class action suit involving 270,000 plan participants across more than 13,000 plans. The suit was filed in 2015 by plaintiff John Teets, a participant in the Farmers’ Rice Cooperative 401(k) Savings Plan, which had contracted with Great-... READ MORE
New survey results show that workers are highly concerned about their financial security, particularly in retirement, and they are counting on both Congress and their employers to provide solutions. Conducted on behalf of Prudential by Morning Consult, the sixth “American Workers Survey” finds... READ MORE
Testifying at a March 27 Capitol Hill hearing on behalf of the American Retirement Association, ASPPA member Martella A. Turner-Joseph encouraged members of Congress to enact comprehensive legislation to expand American workers’ access to workplace retirement plans. Turner-Joseph, an enrolled... READ MORE
The IRS on March 26 updated its Operational Compliance List for compliance in 2019. The list is intended to help plan sponsors and practitioners achieve operational compliance by identifying changes in qualification requirements effective during a calendar year. The Operational Compliance List:... READ MORE
Why is it important to know if a controlled group or affiliated group exists? Why is it important to know when certain children celebrate their 21st birthday? Those questions and more will be covered in detail at the ASPPA Eastern Regional Conference to be held May 9-10 at the Doubletree Center... READ MORE
The IRS has updated the Mortality Improvement Rates and Static Mortality Tables for Defined Benefit Pension Plans for 2020. The updated rates and tables are contained in Notice 2019-26, released on March 22. Notice 2019-26 specifies updated mortality improvement rates and static mortality tables... READ MORE
The Pacific Rim, a place where it’s a bit less unusual than others for new land to explode into existence, is adding to the state-sponsored retirement plans earthquake. Add Hawaii and Washington to the states whose legislatures have or are considering legislation that would create state-sponsored... READ MORE
The Congressional Research Service (CRS) has updated its report on the Social Security retirement age. The report provides a discussion of some current trends concerning and affecting that threshold and how the Social Security retirement age may relate to addressing the challenges facing the Social... READ MORE
Summary plan descriptions (SPDs) are not optional — at least not for plans to which ERISA applies. And that includes retirement plans. A recent blog entry discusses SPD requirements and how they relate to retirement plans, participants and beneficiaries. In “Summary Plan Descriptions: You Gotta... READ MORE
There are plenty of good reasons to save, but we all know that it can be tough to start. In that spirit, here are four things that those who aren’t (yet) saving for retirement should know. It’s never too late to start saving for retirement. Perhaps you think there’s no point at some point – maybe... READ MORE