Nevin Adams

Nevin Adams

Nevin Adams

By Nevin Adams9/26/2014 • 0 Comments

A plan sponsor’s decision to eliminate an option to transfer defined contribution account balances to a defined benefit floor-offset plan didn't violate ERISA’s anti-cutback rules, according to a federal appeals court. READ MORE

By Nevin Adams9/23/2014 • 0 Comments

If you (or your plan sponsor clients) are looking for an easy-to-use guide to employee benefit plan reporting, the IRS has just the thing: a handy guide of reporting and disclosure requirements under ERISA.
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By Nevin Adams9/18/2014 • 0 Comments

The IRS has issued the much-anticipated final regulations on hybrid retirement plans and has also provided regulations on the tax treatment of distributions from Roth accounts under tax-favored retirement plans, such as 401(k), 403(b), and 457 plans. READ MORE

By Nevin Adams9/18/2014 • 0 Comments

Much is said and written about the demise of DB plans, but a recent House subcommittee hearing was focused on ways to help sustain the programs still in place. The hearing — held Sept. 17 by the Select Revenue Measures Subcommittee of the House Committee on Ways & Means — was largely devoted to talking about nondiscrimination testing issues impacting plans that had been “soft” frozen (i.e., closed to new hires) and the funding and structural challenges confronting multiemployer plans.
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By Nevin Adams9/17/2014 • 0 Comments

Apparently the ghost of Mitt Romney’s IRA continues to haunt Capitol Hill — and, if the chairman of the Senate Finance Committee has his way, retirement savings will be on the tax reform agenda. On Sept. 16, Senate Finance Committee Chairman Ron Wyden (D-Ore.) kicked off the “Retirement 2.0: Updating Savings Policy for the Modern Economy” hearing on Capitol Hill by focusing on the issue of so-called “mega” IRAs.
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By Nevin Adams9/12/2014 • 0 Comments

The IRS has issued guidance on pension funding stabilization under the Highway and Transportation Funding Act of 2014 (HATFA). Notice 2014-53, issued late on Sept. 11, addresses both the 2013 and 2014 plan years. Generally speaking, plan sponsors have until Dec. 31 (later for some non-calendar-year plans) to determine the optimal transition to HATFA segment rates.

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By Nevin Adams9/11/2014 • 0 Comments

When it rains, it pours — in a single week we have had two announcements of congressional hearings on retirement plan issues slated for next week.
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By Nevin Adams9/5/2014 • 0 Comments

A new report from the Federal Reserve finds that while retirement plan participation remained relatively flat over the past three years, the median and average value of those retirement plan accounts rose “substantially.” The report also noted that ownership of those accounts slipped below 50% in 2013, though participation levels rebounded slightly for upper-middle income families. READ MORE

By Nevin Adams9/2/2014 • 0 Comments

Forty years ago today, President Gerald Ford signed ERISA into law. In this week’s column, Nevin Adams offers his perspective on ERISA’s impact on Americans’ efforts to be better prepared financially for their retirement years.
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Lauren Bloom

Lauren Bloom

Lauren Bloom

By Lauren Bloom9/10/2014 • 0 Comments

While the World Wide Web is now nearly 20 years old, the globe-spanning, virtual reality of our digital age offers unprecedented opportunities to learn, connect, educate, and advertise. It also presents a multitude of ethical pitfalls and challenges with which previous generations never had to contend.
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Ray Harmon

Ray Harmon

Ray Harmon

By Ray Harmon9/23/2014 • 0 Comments

Republican Sen. Orrin Hatch (R-Utah) introduced the Secure Annuities for Employee (SAFE) Retirement Act (S. 1270) last year to reform the public and private pension systems and, amid recent retirement reform hearings, his bill is now getting support from an otherwise unlikely place: the left-leaning Urban Institute.
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By Ray Harmon9/12/2014 • 0 Comments

At a recent event commemorating ERISA’s 40th anniversary, Phyllis C. Borzi, Assistant Secretary of the DOL’s Employee Benefits Security Administration (EBSA), did not directly address her agency’s forthcoming proposed change to the definition of a fiduciary. But then, she didn’t have to.
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Craig Hoffman

Craig Hoffman

Craig Hoffman

By Craig Hoffman9/15/2014 • 0 Comments

ASPPA has recommended in a comment letter to the IRS that it make the administrative relief Revenue Procedure 2014-32 provides for filers of delinquent Forms 5500-EZ permanent and that it more closely reflect the relief available through the Department of Labor’s delinquent filer voluntary compliance program. READ MORE

John Iekel

John Iekel

John Iekel

By John Iekel9/29/2014 • 0 Comments

They’ve been a while in coming, but they are here: the IRS on Sept. 26 issued final regulations on electronic filing of Form 8955-SSA and Form 5500-EZ in certain circumstances. The IRS had issued the regs in proposed form in August 2013 READ MORE

By John Iekel9/25/2014 • 1 Comments

The Pension Benefit Guaranty Corporation on Sept. 24 issued Technical Update 14-1, guidance on how the Highway and Transportation Funding Act of 2014 (HATFA) affects PBGC premiums. READ MORE

By John Iekel9/23/2014 • 0 Comments

Oregon State Treasurer Ted Wheeler has presented the legislature with recommendations for increasing Oregonians’ retirement savings, access to a retirement plan and ability to enroll in one. The recommendations are the work of the state’s Retirement Security Task Force.
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By John Iekel9/18/2014 • 0 Comments

Johnson & Johnson is joining the ranks of the employers that have reduced pension benefits for new employees. The company, ranked 39th among the Fortune 500, made the announcement in an internal memo READ MORE

By John Iekel9/16/2014 • 0 Comments

Washington has been training its eye on fees and transparency for years now. But so is the industry; the North American Securities Administrators Association is the latest organization to convene a group trying to make sure broker-dealers are giving investors fee disclosures they can understand. READ MORE

By John Iekel9/15/2014 • 0 Comments

Notice 2014-53, the recent guidance from the IRS on pension funding stabilization under the Highway and Transportation Funding Act of 2014, contains a provision that is in accordance with a request by the ASPPA College of Pension Actuaries.
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By John Iekel9/10/2014 • 0 Comments

The Garden State is the latest state whose credit rating has suffered due to a pension funding shortfall. Credit agencies have downgraded their ratings of New Jersey debt due to the state’s worsening pension funding ratio.
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By John Iekel9/8/2014 • 0 Comments

The IRS has released a draft of the Form 5500-EZ to be used for 2014 reporting. The draft is only for information purposes — it cannot be filed. Nonetheless, the draft provides an advance look at what the version to be used for filing probably will contain and require.
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By John Iekel9/8/2014 • 0 Comments

In the last 15 years, there has been a wide redistribution of corporate resources regarding retirement benefits, and that includes a sharp shift from offering defined benefit plans. That reorientation, which in many cases is from DB plans to defined contribution plans, carries opportunities but also risks for employers as well as employees, a new report by Towers Watson indicates.

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Andrew Remo

Andrew Remo

By Andrew Remo9/29/2014 • 0 Comments

Lobbying groups representing minority investment fund managers, backed by key Democratic members of Congress, recently met with key administration officials to press the case for doing business with minority and women-owned firms.
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By Andrew Remo9/22/2014 • 0 Comments

Three key players in the formulation and design of the auto-IRA concept came together at a Sept. 17 policy forum in Washington, D.C. to offer perspective and an assessment of the road ahead.

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By Andrew Remo9/2/2014 • 0 Comments

Its authors may not have led with that title, but a recent paper calls for wholesale changes to the way Americans currently save for retirement, including suspending all defined contribution savings arrangements. One is inclined to give the authors credit for coming up with a new alternative, but the reality is that their proposal is a cobbled-together mish-mash of ideas that have been tried before. READ MORE

ASPPA Net Staff

ASPPA Net Staff

By ASPPA Net Staff9/29/2014 • 0 Comments

As an ASPPA member, you know that the ASPPA Annual Conference provides a unique combination of opportunities to learn, to network, and to enhance your professional skillsets. It’s also a great way to pick up vital continuing education credits. READ MORE

By ASPPA Net Staff9/26/2014 • 0 Comments

Total U.S. retirement assets were $24.0 trillion as of June 30, 2014, up 2.8 percent from $23.4 trillion on March 31, 2014, according to the Investment Company Institute. READ MORE

By ASPPA Net Staff9/23/2014 • 0 Comments

The Senate on Sept. 16 passed a bill that, if enacted, would amend ERISA to clarify definitions concerning what constitutes a shutdown event. The measure is not law yet, but the legislation is worth watching since it would affect administration of defined benefit plans. READ MORE

By ASPPA Net Staff9/22/2014 • 0 Comments

Who isn’t interested in saving $250? Register for this year’s ASPPA Annual Conference by Friday, Sept. 26 and receive $250 off! But don’t wait… this offer expires Sept. 26. READ MORE

By ASPPA Net Staff9/18/2014 • 0 Comments

There’s still time to submit a paper for consideration for the Ed Burrows Award — the deadline for submissions has been extended to Oct. 8. The award, bestowed in honor of Ed Burrows’ contribution to the advancement of the general understanding of pension knowledge, is an annual honorary payment of $2,000 for the best paper submitted on a topic selected by the Ed Burrows Award Committee. READ MORE

By ASPPA Net Staff9/17/2014 • 0 Comments

The ASPPA Annual Business Meeting will be held during the 2014 ASPPA Annual Conference at the Gaylord National in National Harbor, Md., on Sunday, Oct. 26, at 3:00 p.m.

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By ASPPA Net Staff9/11/2014 • 0 Comments

Roth IRAs grew at more than double the rate of traditional IRAs among a consistent set of IRA owners over the three-year period from 2010-2012, according to an analysis by the Employee Benefit Research Institute. READ MORE

By ASPPA Net Staff9/11/2014 • 0 Comments

Participant transfer volumes remained in the summer doldrums in August, according to the Aon Hewitt 401(k) Index. When trading occurred, plan participants favored fixed income funds over equity funds for 65% of the trading days, a turnabout from trends in the prior month. READ MORE

By ASPPA Net Staff9/10/2014 • 0 Comments

ASPPA and PenChecks have partnered to offer four scholarships to individuals interested in pursuing ASPPA’s Qualified 401(k) Administrator (QKA) credential. The scholarship application deadline is Sept. 30. READ MORE

By ASPPA Net Staff9/4/2014 • 0 Comments

Good news: the vast majority of Gen X workers are participating in employer-sponsored retirement plans. And their median contribution rate is 7% and they started at a median age of 27. Still, less than a quarter say that saving for retirement is their greatest financial priority at present. READ MORE

By ASPPA Net Staff9/3/2014 • 0 Comments

Any requests for employee plan determination letters from the IRS must be accompanied by Form 8717, and requests for opinion or advisory letters must include new Form 8717-A. But be sure you use the latest version of Form 8717, now called the User Fee for Employee Plan Determination Letter Request — the IRS has updated it, and requires that the latest version be used. READ MORE

By ASPPA Net Staff9/3/2014 • 0 Comments

The U.S. Census Bureau has published its annual survey of public pensions. The 2013 Survey of Public Pensions: State-Administered Defined Benefit Data provides revenues, expenditures, financial assets, membership and liabilities information for DB public pension systems. READ MORE

By ASPPA Net Staff9/2/2014 • 0 Comments

Whether you were a “dazed and confused” high schooler, worried about Watergate, or no more than a twinkle in your parents’ eyes – 1974 – and the Employee Retirement Income Security Act – would (thankfully) prove to have more staying power than puka shell necklaces, bell bottoms, or polyester leisure suits. READ MORE