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The IRS Employee Plans office, in the latest issue of Employee Plans News, has issued reminders and links to other information especially useful to plans as the old year ends and a new year begins. It sent Issue 2015-14 on Dec. 21.The latest issue includes: A link to the 2015 Cumulative List of...
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After the Dec 23 edition, ASPPA Connect will next appear on Dec. 28. In the meantime, we wish our readers and members a very happy Holiday season.In keeping with the season, we found a sampling of U.S. place names that resonate at this time of year interesting.Angel City, TexasBells, Pa.Blitzen,...
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One of the most-cited sources of government data regarding income sources in retirement has revamped its methodology, but in the process led to questions about its reliability of those findings.A new report from the nonpartisan Employee Benefit Research Institute (EBRI) explains that the Annual...
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The court in Tussey v. ABB Inc. No. 2:06-cv-04305 (W.D. Mo. Dec. 9, 2015) has awarded attorney fees roughly equal to the total damages assessed in the excessive fee case — but it won’t come close to covering their costs.According to an analysis by Proskauer Rose LLP, the court awarded class counsel...
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Education on spousal beneficiary rules on divorced and deceased participants can come through seminars, enrollment meetings and articles in newspapers or pension/IRA periodicals. But they can be found in PPA plan documents as well.In “A Key Beneficiary Provision in PPA Plan Documents,” an article...
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Often, correction of a plan’s disqualifying defect(s) can be done only with IRS approval. The IRS may have discovered the defect during an audit, requiring that the problem be resolved through an IRS-approved closing agreement. Or the defect may have been submitted to the IRS for resolution under...
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The departing year was a challenging one for many defined benefit plans, so some suggestions regarding what they can do in the year soon to come likely will be welcome. Mercer is happy to oblige, recently outlining key investment issues they can focus on in 2016.Mercer’s suggestions include the...
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ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events.Live WebcastsEPCRS Corrections: Strategies and Negotiation Tips When Dealing with the IRSThursday, Jan. 14, 20162 p.m. - 3:40 p.m. ETSpeakers: Ilene H....
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Roth IRAs have been a popular way to generate future tax-free growth and income since their creation. Yet the decision to contribute or convert to a Roth IRA incurs an immediate tax liability that could become so heavy as to be destructive. So writes Michael Kitces in “Using Systematic Partial Roth...
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A bipartisan group of lawmakers last week introduced legislation that they say will “ensure retirement advisors serve their clients’ best interests and preserve access to quality financial planning.” It would also require an affirmative vote of Congress before the final fiduciary rule from the...
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