Nevin Adams

Nevin Adams

Nevin Adams

By Nevin Adams10/31/2014 • 0 Comments

The Government Accountability Office (GAO) recently reissued its preliminary report on individual retirement account (IRA) accumulations. READ MORE

By Nevin Adams10/24/2014 • 0 Comments

There were some mixed messages in the fifth annual Wells Fargo Middle-Class Retirement study about retirement savings. The headlines were (as usual) all about retirement non-saving: the 34% reportedly not currently contributing anything to a 401(k), an IRA or other retirement savings vehicle; on the other hand, 70% of those same respondents say they have a 401(k) or equivalent plan available to them through their employer, and 93% are contributing to their plans. READ MORE

By Nevin Adams10/24/2014 • 0 Comments

A new analysis claims that there are some jobs you can only seem to find in certain places. Guess where the actuarial profession stands out? READ MORE

By Nevin Adams10/24/2014 • 0 Comments

Plans interested in providing lifetime income alternatives via target-date funds that include deferred annuities got some much-needed clarity from the IRS on Oct. 24. READ MORE

By Nevin Adams10/23/2014 • 0 Comments

With more and more defined benefit plan sponsors exploring — and undertaking — pension de-risking, a pair of leading U.S. Senators have asked regulators to establish some guidelines to ensure that those covered by those programs are protected. READ MORE

By Nevin Adams10/22/2014 • 0 Comments

A new study finds that more retirees are receiving retirement income from private-sector retirement plans than in 1975, the year after ERISA came into being.

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By Nevin Adams10/8/2014 • 0 Comments

A recent article claimed that there was an imaginary retirement income crisis that was being pushed by some who want to boost Social Security benefits and reduce tax incentives for saving. Within a day, New School economics professor Teresa Ghilarducci responded. READ MORE

By Nevin Adams10/7/2014 • 0 Comments

Differences in workforce composition — not costs — appear to be a primary cause for the lower rate at which small employers sponsor retirement plans, according to a new report.
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By Nevin Adams10/2/2014 • 0 Comments

In Santomenno v. John Hancock Life Insurance Company, No. 13–3467, 2014 WL 4783665 (3d Cir. Sept. 26, 2014), the plaintiffs had argued that, as a service provider to their 401(k) plan, John Hancock was a fiduciary, and that it had breached its fiduciary duties by charging excessive fees. However, the court rejected the claims. READ MORE

By Nevin Adams10/1/2014 • 0 Comments

The nation’s private pension insurer wants a heads-up from employers about offers to participants to convert their monthly pensions to lump sum benefits. In a recent Federal Register filing, the Pension Benefit Guaranty Corporation (PBGC) said it plans to revise the 2015 PBGC premium filing procedures to require reporting of such offers. READ MORE

By Nevin Adams10/1/2014 • 0 Comments

The annual cost of living adjustments for most limits are measured using the CPI-U announced by the Bureau of Labor Statistics for July, August and September. The September rate will be released on Oct. 22 — at which point we’ll know with certainty. READ MORE

Donna Brewster

Donna Brewster

By Donna Brewster10/23/2014 • 0 Comments

Growing and managing a business presents a multitude of challenges. To aid in meeting them, ASPPA’s new Business Managers and Owners Council will provide a number of opportunities for you to enhance your business management skills. Membership in this group is exclusively available to qualified ASPPA members as an “add on” to your regular ASPPA dues. READ MORE

Mike Bushnell

Mike Bushnell

Mike Bushnell

By Mike Bushnell10/29/2014 • 0 Comments

Today, third-party administrators are partnering with plan advisors like never before, providing more robust packages to clients than either could support by themselves. But just like any other team, the partnership can easily fall apart if everyone isn’t working together. READ MORE

By Mike Bushnell10/29/2014 • 0 Comments

Using easy-to-remember best practices, consultant Sarah Simoneaux, CPC, told attendees at the 2014 ASPPA Annual Conference Oct. 28 how they can make a first impression the best impression, and continue a strong relationship with a new client well past the introductory meeting. READ MORE

By Mike Bushnell10/28/2014 • 0 Comments

The world has never been smaller, but the opportunities to say or write something that could undermine an entire career have never been greater. Conference keynoter Lauren Bloom, an attorney in Washington, D.C., told attendees at the 2014 ASPPA Annual Conference Oct. 27 how ASPPA’s Code of Conduct pertains to this “brave new world” of highly digitized business. READ MORE

By Mike Bushnell10/27/2014 • 0 Comments

A year after DOL's Phyllis Borzi, addressing the 2013 ASPPA Annual Conference, provided details about how the department planned to proceed with its regulatory initiative reshaping the definition of a plan fiduciary, the 2014 Washington Update panel said the real question now was much broader: Will these regulations ever actually see the light of day? READ MORE

Ray Harmon

Ray Harmon

Ray Harmon

By Ray Harmon10/16/2014 • 0 Comments

The President's Advisory Council on Financial Capability for Young Americans recently held its annual meeting — but retirement planning was barely mentioned. READ MORE

Richard Hochman

Richard Hochman

By Robert Richter, Richard Hochman10/9/2014 • 0 Comments

Our session at the ASPPA Annual Conference, “Plan Provisions that Should Come with a Surgeon General’s Warning,” will focus on plan designs and plan provisions that should be reviewed, and in some cases, avoided. READ MORE

Craig Hoffman

Craig Hoffman

Craig Hoffman

By Craig Hoffman10/10/2014 • 0 Comments

The IRS announced this week, to the surprise of many, that the IRS electronic filing system known as FIRE (Filing Information Returns Electronically) will be shut down from approximately 3:00 p.m. ET on Saturday, Oct. 11, 2014, until approximately 6:00 a.m. ET on Tuesday, Oct. 14, 2014. READ MORE

By Craig Hoffman10/3/2014 • 0 Comments

The U.S. Supreme Court has agreed to review the Tibble v. Edison Int’l case, it was announced Oct. 2. One of the many “excessive fee” cases being pursued through the federal court system, Tibble arose in California and was the subject of a 9th Circuit Court of Appeals decision last year. READ MORE

John Iekel

John Iekel

John Iekel

By John Iekel10/30/2014 • 0 Comments

ASPPA’s College of Pension Actuaries (ACOPA) at an Oct. 28 luncheon during ASPPA’s Annual conference, held at National Harbor, Md., awarded its designation of Fellow, Society of Pension Actuaries (FSPA) to 14 outstanding actuaries. READ MORE

By John Iekel10/29/2014 • 0 Comments

ASPPA General Counsel and Director of Regulatory Affairs Craig P. Hoffman and Joe Canary, director of the Office of Regulations and Interpretations for the Employee Benefit Security Administration, discussed some of the recurring and unresolved matters regarding participant disclosures at an Oct. 28 session of the ASPPA Annual Conference at National Harbor, Md. READ MORE

By John Iekel10/29/2014 • 0 Comments

It’s not often that retirement plan professionals have the chance to ask a distinguished panel for their take on sometimes thorny, sometimes complicated, sometimes nagging issues. But attendees at an "ask the experts" session on the last day of ASPPA’s Annual Conference, held in National Harbor, Md., had that opportunity. READ MORE

By John Iekel10/29/2014 • 0 Comments

Remember the kids' game, Hot Potato? Seems like there's a grown-up version too, for plan administrators who perform a fiduciary role. That was what Nicholas J. White, Special Counsel at Trucker Huss, addressed in an Oct. 28 session at ASPPA's 2014 Annual Conference at National Harbor, Md. READ MORE

By John Iekel10/28/2014 • 0 Comments

Turning 40 is one of those storied moments — and not just for individuals. ERISA turned 40 this year, affording an opportunity to take stock of its impact and whether it is functioning as intended. An Oct. 28 panel discussion at the 2014 ASPPA Annual Conference, held at National Harbor, Md. discussed exactly that. READ MORE

By John Iekel10/28/2014 • 0 Comments

Never a dull moment for plan administrators and actuaries. And that’s even more true when you throw federal regulations into the mix. A panel discussion at ASPPA’s 2014 Annual Conference on Monday, Oct. 27 provided an update on regulatory changes affecting DB plans . READ MORE

By John Iekel10/28/2014 • 0 Comments

The finer points of administering a cash balance plan and working with equivalent benefit accrual rates were the topics of discussion at an Oct. 27 session of the 2014 ASPPA Annual Conference. Lawrence Deutsch, president of Larry Deutsch Enterprises, and Michael B. Preston of Preston Actuarial Services offered their insights. READ MORE

By John Iekel10/26/2014 • 0 Comments

If you are a 3(16) plan administrator, one of the keys to success — if not survival — is to know what your responsibilities are, and that is spelled out in the plan document, says Ilene Ferenczy of the Ferenczy Benefits Law Center. She made her remarks at an Oct. 26 session of the ASPPA Annual Conference at National Harbor near our nation’s capital. READ MORE

By John Iekel10/24/2014 • 0 Comments

Any employer, plan administrator, third party administrator, plan sponsor etc. knows how many moving parts there are to meeting reporting deadlines and complying with IRS rules and regulations. Apparently the IRS does as well, and it has updated “Retirement Plan Reporting and Disclosure Requirements,” a detailed guide that provides information concerning reporting requirements and deadlines. READ MORE

By John Iekel10/24/2014 • 0 Comments

The Pension Benefit Guaranty Corporation (PBGC) on Oct. 24 announced the premium rates for 2015. Some rates increased sharply, while other increases were far more modest. READ MORE

By John Iekel10/23/2014 • 0 Comments

The IRS and Social Security Administration have issued their cost-of-living adjustments relevant to retirement benefits for 2015. READ MORE

By John Iekel10/23/2014 • 0 Comments

The 2014 ASPPA Annual Conference kicks off Sunday at the Gaylord National Resort at the National Harbor, located in Oxon Hill, Md., just outside our nation’s capital. We'll be there from the start until the conference ends on Wednesday, reporting on the Annual's general sessions, workshops and more. READ MORE

By John Iekel10/17/2014 • 0 Comments

The Highway and Transportation Funding Act of 2014 had consequences for annual financial and actuarial information reporting under Section 4010 of ERISA and part 4010 of the PBGC regulations. To better clarify how it applies, the PBGC on Oct. 17 issued Technical Update 14-2: Effect of HATFA on 4010 Reporting. READ MORE

By John Iekel10/17/2014 • 0 Comments

The number of single-employer defined benefit plans has dropped sharply over a nearly 40-year period, while multiemployer DB plans' decline has been far less dramatic. But Bureau of Labor Statistics Office of Compensation and Working Conditions economist William Wiatrowski shows in a study that it's too simplistic to explain this by noting that DB plans have long been declining as DC plans have grown. READ MORE

By John Iekel10/16/2014 • 0 Comments

In an Oct. 15 letter to Department of Labor Assistant Secretary of Labor for the Employee Benefits Security Administration Phyllis Borzi, ASPPA has urged the DOL to issue regulations that provide a longer period for all disclosures. READ MORE

By John Iekel10/7/2014 • 0 Comments

According to a recent study, by and large, third party administrators want the same thing from their retirement service providers that their own clients often want from them: good service, ease of doing business and a functional website.
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By John Iekel10/3/2014 • 0 Comments

The way to move forward in promoting retirement saving is not to dismantle the 401(k) and employer-based system — far from it. Rather, we should continue to refine the system and expand coverage and participation. That was the message conveyed by Mark Iwry, Senior Advisor to the Secretary of the Treasury and Deputy Treasury Assistant Secretary (Tax Policy) for Retirement and Health Policy, at the NAPA DC Fly-In Forum on Sept. 30. READ MORE

By John Iekel10/2/2014 • 0 Comments

The digital world offers revolutionary means to communicate, store and share data. But using it in a responsible and ethical manner is as important as it is challenging, as Lauren Bloom, an expert on professional ethics and risk management, pointed out in the recent ASPPA webcast, “Ethics and Professionalism in the Digital Age.”

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Robert Kaplan

Robert Kaplan

By Robert Richter, Robert Kaplan10/16/2014 • 0 Comments

While it is true that safe harbor 401(k) plans are free from the testing of deferrals and, in most cases, matching contributions, it is also true that there are potential pitfalls that may jeopardize the plan’s qualification status. Our session on Monday, Oct. 27 at the ASPPA Annual Conference will highlight common errors and suggested corrections of which practitioners need to be aware.
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Barry Levy

Barry Levy

Barry Levy

By Barry Levy10/16/2014 • 0 Comments

This month ASPPA will be launching the Business Managers & Owners Council. BMOC is a new membership add-on designed for ASPPA members who are either owners or senior executives of a qualified plan administration business. READ MORE

John  Ortman

John Ortman

John Ortman

By John Ortman10/28/2014 • 0 Comments

Advisors seeking to capture IRA rollovers face a "four-part harmonization" of regulatory and other government entities -- that is, SEC, DOL, FINRA and GAO -- in the words of ERISA attorney Fred Reish. Speaking at a workshop session at the 2014 ASPPA Annual Conference Oct. 28, the Drinker Biddle attorney was joined by fellow panelists Pete Swisher of Pentegra and Yannis Koumantaros of GROUPIRA. READ MORE

By John Ortman10/27/2014 • 0 Comments

Despite lacking any regulatory authority to do so, the Department of Labor has made an issue of fiduciary training over the last few years. The reason, according to Bryan Cave's Sheldon H. Smith: The DOL views fiduciary training as a critical element of good governance, and looks for evidence of a fiduciary training program upon audit.
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By John Ortman10/26/2014 • 0 Comments

The American Society of Pension Professionals & Actuaries inaugurated Kyla Keck, CPC, QPA, QKA, ERPA, as the new President of the organization during the Oct. 26 opening session of the 2014 ASPPA Annual Conference at the Gaylord Hotel, in National Harbor, MD. READ MORE

By John Ortman10/26/2014 • 0 Comments

The American Society of Pension Professionals & Actuaries announced three annual industry awards during the Oct. 26 opening session of the 2014 ASPPA Annual Conference at the Gaylord Hotel, in National Harbor, Md. READ MORE

Robert Richter

Robert Richter

Robert Richter

By Robert Richter, Robert Kaplan10/16/2014 • 0 Comments

While it is true that safe harbor 401(k) plans are free from the testing of deferrals and, in most cases, matching contributions, it is also true that there are potential pitfalls that may jeopardize the plan’s qualification status. Our session on Monday, Oct. 27 at the ASPPA Annual Conference will highlight common errors and suggested corrections of which practitioners need to be aware.
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By Robert Richter, Richard Hochman10/9/2014 • 0 Comments

Our session at the ASPPA Annual Conference, “Plan Provisions that Should Come with a Surgeon General’s Warning,” will focus on plan designs and plan provisions that should be reviewed, and in some cases, avoided. READ MORE

ASPPA Net Staff

ASPPA Net Staff

By ASPPA Net Staff10/31/2014 • 0 Comments

American workers are feeling better about their retirement prospects, with most of the (modest) improvement registered among higher-income individuals and women, a new survey suggests. READ MORE

By ASPPA Net Staff10/31/2014 • 0 Comments

More than two and a half years after the city of Stockton, Calif. declared insolvency, Chief United States Bankruptcy Judge Christopher Klein on Oct. 30 confirmed the city’s proposal for exiting Chapter 9 bankruptcy. READ MORE

By ASPPA Net Staff10/31/2014 • 0 Comments

ASPPA honored Richard A. Groszkiewicz, MSPA, with the 2014 Educator’s Award on Oct. 29, during the 48th ASPPA Annual Conference at the Gaylord National Resort and Convention Center in National Harbor, Md. READ MORE

By ASPPA Net Staff10/24/2014 • 0 Comments

A new survey suggests that Millennials are “getting it” when it comes to retirement savings — or maybe as newer hires, they’re just “automatic” beneficiaries.   READ MORE

By ASPPA Net Staff10/17/2014 • 0 Comments

They say when you have your health, you have just about everything, and a new study seems to bear that out — and that includes being financially ready for retirement. READ MORE

By ASPPA Net Staff10/17/2014 • 0 Comments

The upcoming Nov. 4 midterm congressional election will have important repercussions for retirement plan professionals. Questions the results of the election may raise will be answered in “What Do the Election Results Mean to ASPPA Members?,” a special, members-only post-election wrapup in a Thursday, Nov. 6 webcast by ASPPA CEO/Executive Director Brian Graff and Political Director Jim Dornan. READ MORE

By ASPPA Net Staff10/15/2014 • 0 Comments

A new survey finds that most employers are concerned that the rising cost of health care will lead workers to cut back on retirement savings — and see a holistic approach to both as a potential solution.
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By ASPPA Net Staff10/14/2014 • 0 Comments

Almost six in 10 small business owners believe employees have what they need to protect their health and income but only 35% believe their employees are saving enough for a comfortable retirement. That concern doubtless underlies the findings of a recent study which included the perspectives of 600 business owners of U.S. firms with 10-500 employees.
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By ASPPA Net Staff10/13/2014 • 0 Comments

The ASPPA Board has proposed amending the documents approved by the membership in July to substitute the American Retirement Association for the American Retirement Council. On Tuesday, Oct. 14, Credentialed Members will receive information via email on how they may vote on this important matter.

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By ASPPA Net Staff10/11/2014 • 0 Comments

How many American workers are covered by a retirement plan? It depends on how you look at it. READ MORE

By ASPPA Net Staff10/6/2014 • 0 Comments

The number of private sector defined contribution plans and participants continues to expand, while defined benefit plans distributed more than they took in, according to just-published statistics from the Department of Labor.
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