ASPPA

ASPPA

By ASPPA 7/29/2015 • 0 Comments

The Pension Benefit Guaranty Corporation on July 27 issued a proposal to amend its regulation on annual financial and actuarial and information reporting.
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Nevin Adams

Nevin Adams

Nevin Adams

By Nevin Adams7/28/2015 • 0 Comments

None other than a fellow federal agency has said in its a comment letter on the Labor Department’s fiduciary proposal that the proposal fails to adequately estimate its cost or the number of firms affected by it. READ MORE

By Nevin Adams7/14/2015 • 0 Comments

Diamonds may be forever, but apparently fiduciary liability for choosing annuities in a DC plan is not: That’s likely the most significant takeaway from Field Assistance Bulletin (FAB) 2015-02. READ MORE

By Nevin Adams7/10/2015 • 0 Comments

Plan sponsors who want to “de-risk” their pension plans will no longer be able to give participants who are receiving monthly annuity benefits the option to convert that benefit to a lump sum, according to new rules from the IRS. READ MORE

John Iekel

John Iekel

John Iekel

By John Iekel7/16/2015 • 0 Comments

Whether we have retirement a crisis, or merely a series of hard problems, captured the ultimate issue an expert panel addressed at an American Enterprise Institute July 15 discussion at its Washington, DC offices,. READ MORE

Kyla Keck

Kyla Keck

By Kyla Keck7/10/2015 • 0 Comments

The ASPPA Leadership Council has voted to propose a change to the American Retirement Association Code of Conduct and solicits your comments to these proposed changes. READ MORE

Andrew Remo

Andrew Remo

By Andrew Remo7/20/2015 • 0 Comments

Now governments of individual cities are getting into the push to create government-sponsored retirement plans to address the retirement plan coverage gap, with the largest U.S. city at the tip of the spear. READ MORE

ASPPA Net Staff

ASPPA Net Staff

By ASPPA Net Staff7/31/2015 • 0 Comments

Beginning Oct. 1, the IRS Employee Plans Office will no longer answer technical questions by email, nor will it accept forwarded messages from IRS Customer Account Services that had been sent to its personnel by email. READ MORE

By ASPPA Net Staff7/31/2015 • 0 Comments

The IRS on July 31 issued Notice 2015-53, which provides the mortality tables for minimum funding and present value requirements for use in 2016.
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By ASPPA Net Staff7/31/2015 • 0 Comments

The American Retirement Association Annual Business Meeting will be held on Sunday, Oct. 18, 2015, during the 2015 ASPPA Annual Conference in National Harbor, Md. READ MORE

By ASPPA Net Staff7/31/2015 • 0 Comments

A report by the Congressional Research Service says that although most multiemployer defined benefit plans have resources sufficient to pay promised benefits, a few large plans are expected to become insolvent in the next 20 years. READ MORE

By ASPPA Net Staff7/30/2015 • 0 Comments

There has been no shortage of bad news for public pension systems from coast to coast, but the U.S. Census Bureau has just released some good news — the assets of state and local public pension systems grew in 2014. READ MORE

By ASPPA Net Staff7/30/2015 • 0 Comments

An IRA owner must calculate the required minimum distribution separately for each IRA that he or she owns, but can withdraw the total amount from one or more of the IRAs, the IRS reminds. READ MORE

By ASPPA Net Staff7/30/2015 • 0 Comments

The Department of Labor’s Employee Benefit Security Administration has prepared material intended to assist plan administrators in selecting an auditor and reviewing the audit work and report. READ MORE

By ASPPA Net Staff7/29/2015 • 0 Comments

Financial wellness can affect more than just employees’ accounts and retirement readiness; it also can affect employees’ physical wellness and even an employer’s bottom line, recent studies say. READ MORE

By ASPPA Net Staff7/27/2015 • 0 Comments

Concerned that the Labor Department’s fiduciary proposal is about reengineering the retirement services industry and controlling the way Americans save for retirement, a group of Republican congressmen is calling for withdrawal of the rule.

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By ASPPA Net Staff7/27/2015 • 0 Comments

Taking a cue from the boss, Labor Secretary Thomas Perez in the DOL blog has said that the DOL will issue guidance to help facilitate state-based retirement plans. READ MORE

By ASPPA Net Staff7/27/2015 • 0 Comments

A recent study shows that there is a gap between some generations' retirement readiness, but the results may not be what one would expect. READ MORE

By ASPPA Net Staff7/27/2015 • 0 Comments

According to a recent study, underfunding of U.S. multiemployer pension plans was worse by year’s end in 2013 than it had been one year before. READ MORE

By ASPPA Net Staff7/27/2015 • 0 Comments

The Financial Industry Regulatory Authority (FINRA) says that the Labor Department’s fiduciary proposal represents a “fractured approach” that will sow confusion for many in the retirement industry. READ MORE

By ASPPA Net Staff7/23/2015 • 0 Comments

Sharp increases in the penalties for making mistakes in information reporting will kick in for returns and statements that are required to be filed after Dec. 31, 2015. READ MORE

By ASPPA Net Staff7/23/2015 • 0 Comments

In Announcement 2015-19, the IRS on July 21 outlined changes to the employee plans determination letter program for qualified retirement plans.
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By ASPPA Net Staff7/22/2015 • 0 Comments

July 21 provided a poignant example of the back-and-forth over the proposed fiduciary rule, as Labor Secretary Thomas Perez testified on Capitol Hill about it, while across town SEC member Daniel Gallagher sent the DOL a public comment letter criticizing it. READ MORE

By ASPPA Net Staff7/21/2015 • 0 Comments

The American Retirement Association (ARA) has submitted its comment letter to the Department of Labor (DOL) on the fiduciary rule re-proposal. READ MORE

By ASPPA Net Staff7/20/2015 • 0 Comments

The Department of Labor will be changing its proposed fiduciary rule regarding brokers, DOL Deputy Assistant Secretary Timothy D. Hauser said at a July 16 Washington, D.C. meeting of the Securities and Exchange Commission’s Investor Advisory Committee. READ MORE

By ASPPA Net Staff7/20/2015 • 0 Comments

ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events. READ MORE

By ASPPA Net Staff7/16/2015 • 0 Comments

The IRS should better inform individuals about Internal Revenue Code provisions saying they must take required minimum distributions from their IRAs when they reach a certain age, says a Treasury Inspector General for Tax Administration report.
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By ASPPA Net Staff7/15/2015 • 0 Comments

The IRS in a July 14 news release encouraged eligible small businesses that did not file certain retirement plan returns to take advantage of a low-cost penalty relief program enabling them to quickly come back into compliance. READ MORE

By ASPPA Net Staff7/13/2015 • 0 Comments

President Obama on July 13 at the 2015 White House Conference on Aging called on the Department of Labor to “provide a clear path forward for the states to create retirement savings programs.” READ MORE

By ASPPA Net Staff7/13/2015 • 0 Comments

Pension plans were better funded by the end of the second quarter of 2015, according to a recent report by Aon Hewitt.
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By ASPPA Net Staff7/10/2015 • 0 Comments

PenChecks Trust Company of America (PenChecks Trust) and the American Society of Pension Professionals & Actuaries (ASPPA) are pleased to announce the second annual QKA Scholarship Program for ASPPA’s Qualified 401(k) Administrator (QKA) credential program. READ MORE

By ASPPA Net Staff7/9/2015 • 0 Comments

Reports from the Senate Finance Committee’s five bipartisan tax working groups have been published, including policy options and recommendations on savings and investment. READ MORE

By ASPPA Net Staff7/9/2015 • 0 Comments

In a recent ASPPA webcast on the Form 5500, Janice Wegesin, President of JMW Consulting, cautioned attendees that the proposed Form 5500 SUP is on the horizon — and that they need to be prepared. READ MORE

By ASPPA Net Staff7/8/2015 • 0 Comments

Connecticut Gov. Dannell P. Malloy (D) on July 2 signed into law a measure that protects retirement plan benefits from creditors’ claims. READ MORE

By ASPPA Net Staff7/6/2015 • 0 Comments

Defined benefit plans, defined contribution plans and 403(b) annuity arrangements with calendar year plans, take note: July 31, the deadline for filing the Form 5500, is right around the corner. READ MORE

By ASPPA Net Staff7/6/2015 • 0 Comments

Overall trends in June and the second quarter of 2015 were favorable for pension plans, according to new reports. READ MORE

By ASPPA Net Staff7/6/2015 • 0 Comments

Efforts to stop or roll back the Department of Labor’s proposed fiduciary rule will continue, according to Steve Saxon of Groom Law Group. READ MORE

By ASPPA Net Staff7/2/2015 • 0 Comments

Another round of consumer surveys this week found most Americans optimistic, but not necessarily about retirement. READ MORE

By ASPPA Net Staff7/2/2015 • 0 Comments

The Defending Public Safety Employees’ Retirement Act, which President Obama signed into law on June 29, expands the exemption from the 10% penalty tax on early distributions from a government retirement plan for qualified public safety employees who are at least 50 years old. READ MORE

By ASPPA Net Staff7/1/2015 • 0 Comments

The U.S. Census Bureau in its quarterly survey of public pensions during the first quarter of 2015 reports that the earnings that public pension plans have realized, and their holdings, have changed little since the fourth quarter of 2014. READ MORE