Education and Career Development

Education and Career Development

Education and Career Development

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

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 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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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 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.
The Senate Finance Committee will hold a hearing on retirement issues on Sept. 16, at 10 a.m., and on Sept. 17 at 10:15 a.m. the House Subcommittee on Select Revenue Measures will hold a hearing on defined benefit pension plans private sector employers offer. READ MORE

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 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 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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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 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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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 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

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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By John Iekel8/29/2014 • 0 Comments

The gender gap in retirement savings is closing. In fact, it could be on course to reverse the long-standing predominance of men's retirement savings rates, says a recent study by MassMutual. 
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By Nevin Adams8/29/2014 • 0 Comments

A new report from Ernst & Young offers a global perspective and some key findings on the challenges and opportunities of various retirement markets. READ MORE

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