ASPPA

ASPPA

By ASPPA 10/12/2015 • 0 Comments

Sen. Rob Portman (R-Ohio) on Oct. 7 introduced the Pension Accountability Act, which would give workers and retirees more say when a multiemployer pension plan faces bankruptcy and major reforms to the plan are on the table. READ MORE

John Ortman

John Ortman

By John Ortman 10/20/2015 • 0 Comments

The biggest impact of the DOL's proposed fiduciary rule, a.k.a. the "conflict of interest rule," isn't on plans or plan advisors, it's on the IRA market, ERISA attorney Fred Reish told a workshop session at the ASPPA Annual Conference Oct. 20. Reish was joined by co-presenter Marcy Supovitz, incoming president of the American Retirement Association for 2016. READ MORE

By John Ortman 10/19/2015 • 0 Comments

For a TPA, the real red flag issues in a DC plan takeover aren't characteristics of the client, says Ilene H. Ferenczy -- they're things the TPA itself does during the takeover process and afterwards. READ MORE

By John Ortman 10/18/2015 • 0 Comments

Impending DOL regulations intended to pave the way for state-run retirement programs for private sector workers may create an unfair playing field and widespread confusion over ERISA preemption, as well other potentially damaging changes, says ASPPA Executive Director Brian Graff. READ MORE

Nevin Adams

Nevin Adams

Nevin Adams

By Nevin Adams10/20/2015 • 0 Comments

Choice architecture – a behavioral science application that includes things like automatic enrollment – works, but it is not the entire solution to worker savings behavior. READ MORE

By Nevin Adams10/1/2015 • 0 Comments

Millennials are living longer, and many will have to finance retirements that are actually longer than their working careers. Here are five things they should know about saving for retirement.
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Ray Harmon

Ray Harmon

Ray Harmon

By Ray Harmon10/28/2015 • 0 Comments

A recent panel discussion the Indexed Annuity Leadership Council (IALC) held in Washington, D.C. titled, “The State of American Retirement: Navigating the Gender Imbalance,” made a strong case for more attention being paid to better enabling women to engage in financial planning. READ MORE

John Iekel

John Iekel

John Iekel

By John Iekel10/23/2015 • 0 Comments

In an Oct. 21 session at the ASPPA Annual Conference, James E. Holland discussed the trees in the thick forest of rules concerning defined benefit lump sum issues. READ MORE

By John Iekel10/22/2015 • 0 Comments

t’s all about service. That was the core message of an Oct. 20 session at the 2015 ASPPA Annual Conference in which Norman Levinrad, President and Chief Actuary of Summit Benefit and Actuarial Services, offered practical tips and insights for managing client relationships and expectations. READ MORE

By John Iekel10/20/2015 • 0 Comments

The Department of Labor is seeking to make it easier for states to fit within the framework of ERISA in their efforts to establish state-run retirement plans, says Phyllis C. Borzi, head of the Employee Benefits Security Administration. READ MORE

By John Iekel10/20/2015 • 0 Comments

The IRS will not backtrack on its recent decision to stop answering questions by email and no longer forward questions sent to IRS Customer Account Services, Commissioner of the IRS Tax Exempt and Government Entities Division Sunita Lough said at an Oct. 20 update on federal agency activity at the 2015 ASPPA Annual Conference. READ MORE

By John Iekel10/19/2015 • 0 Comments

Current regulatory issues facing the retirement industry, its professionals and participants were highlighted in a lively Oct. 19 general session at the 2015 ASPPA Annual Conference. READ MORE

By John Iekel10/19/2015 • 0 Comments

“Ethics is in our daily life,” says Michael P. Coyne, President of Waldheger Coyne, at “Professionalism and Ethics Case Studies: Going Beyond Circular 230,” a workshop session he presented at the 2015 ASPPA Annual Conference Oct. 19. READ MORE

By John Iekel10/18/2015 • 0 Comments

Robert M. Kaplan, Vice President, National Training Consultant at Voya Financial, offered insights and pointers on hardship distributions at an Oct. 18 workshop at the 2015 ASPPA Annual Conference held in National Harbor, Md. just outside our Nation’s Capital.   READ MORE

Judy Miller

Judy Miller

Judy Miller

By Judy Miller10/30/2015 • 0 Comments

The details of a new budget deal have been released, and Congress has once again gone to the defined benefit pension well to pay for a budget deal. READ MORE

John  Ortman

John Ortman

John Ortman

By John Ortman10/8/2015 • 0 Comments

Economist Robert Litan has responded on Forbes.com to accusations of conflicts of interest leveled the last week of September by Sen. Elizabeth Warren (D-Mass.) that cost him his position at the Brookings Institution. READ MORE

Andrew Remo

Andrew Remo

By Andrew Remo10/30/2015 • 0 Comments

The sweeping two-year budget package that is swiftly moving through Congress this week collects over $8.1 billion in revenue from America’s defined benefit plans, largely from increases in premium payments to the Pension Benefit Guaranty Corporation (PBGC). READ MORE

By Andrew Remo10/29/2015 • 0 Comments

Discussing alternatives to encourage small businesses to offer retirement plans, a Senate subcommittee found consensus around a specific solution. READ MORE

By Andrew Remo10/9/2015 • 0 Comments

While many in the retirement industry are solely focused on the impending fiduciary rule, the Department of Labor is proceeding on another potentially far-reaching regulatory project at the direction of President Obama. READ MORE

Karen Smith

Karen Smith

By Karen Smith10/23/2015 • 0 Comments

Karen Smith offers her perspective on purchasing 3(16) services in an article that is a follow-up to “Is There a Market for 3(16) Plan Administrator Services?” the third in a three-part series of columns that recently appeared in ASPPA Connect. READ MORE

ASPPA Net Staff

ASPPA Net Staff

By ASPPA Net Staff10/30/2015 • 0 Comments

Christopher Carosa provides a look at what a panel of four retirees told attendees at a recent TD Ameritrade Advocacy Summit about what they wish they had known about being ready for retirement when they were as old as the Millennials are now. READ MORE

By ASPPA Net Staff10/30/2015 • 0 Comments

In “Forfeiture Stories for a Late Night Campfire,,” a webcast that will be held from 2:00-3:40 p.m. on Thursday, Nov. 12, Adam C. Pozek and William C. Presson will discuss real-life forfeiture case studies, plan document provisions versus administrative decisions, forfeiture corrections and restoring non-vested amounts for buybacks. READ MORE

By ASPPA Net Staff10/29/2015 • 0 Comments

The IRS issued a reminder in IR-2015-122 on Oct. 29 that those born before July 1, 1945 generally must receive payments from their IRAs by Dec. 31. READ MORE

By ASPPA Net Staff10/29/2015 • 0 Comments

The Department of Labor’s proposed fiduciary rule would make many changes; one of which is the definition of what constitutes a recommendation. READ MORE

By ASPPA Net Staff10/28/2015 • 0 Comments

The Pension Benefit Guaranty Corporation (PBGC) said Oct. 28 that the 2016 annual maximum guaranteed benefit for a retiree at age 65, as well as that for multiemployer plans, will remain at the same levels as those set for 2015. READ MORE

By ASPPA Net Staff10/28/2015 • 0 Comments

The U.S. House of Representatives passed legislation Oct. 27 that would block the Department of Labor from finalizing its fiduciary proposal until the Securities and Exchange Commission weighs in. READ MORE

By ASPPA Net Staff10/27/2015 • 0 Comments

An Oct. 23 hearing by a subcommittee of the House Financial Services Committee became the latest stage on which House members expressed frustration over proposals related to fiduciary regulation. READ MORE

By ASPPA Net Staff10/27/2015 • 0 Comments

The Pension Benefit Guaranty Corporation (PBGC) has raised the per-participant flat premium rates and the variable-rate premium for single-employer plans for plan years beginning in 2016. READ MORE

By ASPPA Net Staff10/27/2015 • 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 Staff10/27/2015 • 0 Comments

MetLife in its most recent Pension Risk Transfer Poll sheds some light on pension risk transfers (PRTs), what may be motivating them and what employers are thinking. READ MORE

By ASPPA Net Staff10/26/2015 • 0 Comments

In “Fiduciary Breach: Avoidance and Mitigation,” a webcast by Bruce Ashton that will be held from 2:00-3:40 p.m. ET on Oct. 28, Bruce Ashton will address the breaches a fiduciary may encounter and how fiduciaries can mitigate their liability. READ MORE

By ASPPA Net Staff10/23/2015 • 0 Comments

Concerned that prior guidance has discouraged the embrace of “economically targeted investments,” the Department of Labor has issued a new interpretive bulletin. READ MORE

By ASPPA Net Staff10/21/2015 • 0 Comments

As expected, most of the compensation limits for 2016 are unchanged, because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment — but there were some increases in the rates the IRS released on Oct. 21. READ MORE

By ASPPA Net Staff10/19/2015 • 0 Comments

Karen Smith, MSPA, will serve as President of the ASPPA College of Pension Actuaries for the 2015-2016 year. Smith was inaugurated as president Oct. 19, at ACOPA’s annual luncheon at ASPPA’s Annual Conference in National Harbor, Md. READ MORE

By ASPPA Net Staff10/18/2015 • 0 Comments

The American Society of Pension Professionals & Actuaries welcomed Joseph A. Nichols, MSPA, ASA, EA, MAAA, as the new president of the organization during the Oct. 18 Business Meeting that kicked off the 2015 ASPPA Annual Conference in National Harbor, Md. READ MORE

By ASPPA Net Staff10/18/2015 • 0 Comments

The American Society of Pension Professionals & Actuaries announced five annual industry awards during the Oct. 18 opening session of the 2015 ASPPA Annual Conference in National Harbor, Md. READ MORE

By ASPPA Net Staff10/16/2015 • 0 Comments

A strong majority of Millennials number understanding retirement planning options among their biggest challenges, according to a recently released study.
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By ASPPA Net Staff10/16/2015 • 0 Comments

The 2015 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. READ MORE

By ASPPA Net Staff10/15/2015 • 0 Comments

There will be no cost-of-living adjustment (COLA) for Social Security this year — a precursor of what can be expected for retirement plan contribution and benefit limits. READ MORE

By ASPPA Net Staff10/13/2015 • 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 Staff10/13/2015 • 0 Comments

W. Thomas Reeder, Jr., is the new Pension Benefit Guaranty Corporation (PBGC) Director; President Obama had sent his nomination of Reeder to the Senate on May 21, and the Senate in a voice vote confirmed him Oct. 8. READ MORE

By ASPPA Net Staff10/13/2015 • 0 Comments

In general, women need to do more to save for retirement, according to a recent study that attributes this finding to demographic and salary factors. READ MORE

By ASPPA Net Staff10/12/2015 • 0 Comments

The IRS and Treasury have taken steps that curb lump sum pension buyout offers by pension plans to those receiving ongoing payments; in a recent post on his “Nerd’s Eye View” blog, Michael Kitces offers his take on what these actions mean. READ MORE

By ASPPA Net Staff10/9/2015 • 0 Comments

Recent reports indicate that both private and public plans’ funded status declined in September. READ MORE

By ASPPA Net Staff10/9/2015 • 0 Comments

There is a widespread sense among Millennials that it’s important to save for retirement, according to a recent report. READ MORE

By ASPPA Net Staff10/8/2015 • 0 Comments

Three former chairs of the Securities and Exchange Commission (SEC) said at a TD Ameritrade summit in Washington, D.C. on Oct. 6 that they want the agency they ran to join the effort to set a fiduciary rule. READ MORE

By ASPPA Net Staff10/8/2015 • 0 Comments

The Consumer Financial Protection Bureau and the Federal Trade Commission have taken steps to curb questionable practices concerning pension advance transactions, the Government Accountability Office (GAO) says in a report it recently issued. READ MORE

By ASPPA Net Staff10/6/2015 • 0 Comments

New legislation introduced in the Senate claims to shore up retirement security for women — but it’s got implications for plan design and administration. READ MORE

By ASPPA Net Staff10/5/2015 • 0 Comments

In “The Right Way to Sell a Cash Balance Plan,” a column by Max Wyman that appeared in the Summer 2015 issue of Plan Consultant, he discusses what cash balance plans are and how they operate. READ MORE

By ASPPA Net Staff10/5/2015 • 0 Comments

The IRS Tax Exempt & Government Entities Office has issued its priorities for fiscal year 2016; among them are plans that concern TEGE’s work with employee plans and with government entities and shared services. READ MORE

By ASPPA Net Staff10/5/2015 • 0 Comments

One of the important sources of retirement income, Social Security, is seriously misunderstood. Ellie Lowder discusses the importance of Social Security and of projecting its role in funding retirement. READ MORE

By ASPPA Net Staff10/2/2015 • 0 Comments

The IRS on Oct. 1 issued the instructions for filing the Form 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan, for 2015. READ MORE

By ASPPA Net Staff10/2/2015 • 0 Comments

In “Using the Power of Coverage Testing for Creative Plan Design,” a webcast that will be held from 2:00-3:40 p.m. ET on Oct. 7, Kevin J. Donovan will explore the creative opportunities the coverage testing rules provide for meeting clients’ objectives. READ MORE

By ASPPA Net Staff10/2/2015 • 0 Comments

Strong majorities of defined benefit investment managers plan to allocate assets to passive funds, global equity funds, real estate, infrastructure and low-variance equities in the next three years, according to a recent report. READ MORE

By ASPPA Net Staff10/2/2015 • 0 Comments

On Oct. 1, the American Retirement Association (ARA) submitted a comment letter in response to IRS Announcement 2015-19 in which the IRS requested comments regarding changes to the Employee Plans Determination Letter (DL) Program. READ MORE

By ASPPA Net Staff10/1/2015 • 0 Comments

Sen. Elizabeth Warren (D-Mass.) has expressed concerns about conflicts of interest in a study critical of the Labor Department’s fiduciary proposal — and that has forced the resignation of one of its authors. READ MORE

By ASPPA Net Staff10/1/2015 • 0 Comments

The House Financial Services has given a nod to a bill that would delay the Department of Labor from implementing the proposed fiduciary rule. H.R. 1090, the Retail Investor Protection Act, passed the committee in a 34-25 vote on Sept. 30. READ MORE

Larry Starr

Larry Starr

By Larry Starr10/9/2015 • 0 Comments

Is "third party administrator" an accurate moniker for a pension professional? Larry Starr argues that it is not, and offers a suggestion regarding a better alternative. READ MORE

Alisa Wolking

Alisa Wolking

By Alisa Wolking10/6/2015 • 0 Comments

As the Department of Labor (DOL) finalizes new fiduciary regulations, members of Congress on both sides of the aisle are considering new legislation to address their concerns with DOL’s proposal. READ MORE