Government Affairs

Government Affairs

Government Affairs

By ASPPA Net Staff12/22/2014 • 0 Comments

As we careen toward 2015 with ever-accelerating speed, the IRS has issued a reminder about year-end deadlines relevant to retirement plans. Following are eight “to dos” the IRS suggests.
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By Andrew Remo12/22/2014 • 0 Comments

Largely overlooked in the flurry of lame duck activity by Congress is a bill that creates a new kind of savings account for those with disabilities.
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By Andrew Remo12/18/2014 • 0 Comments

With just days to go before the end of the 113th Congress, two senior members of the House Ways & Means Committee have introduced a bipartisan comprehensive retirement bill. READ MORE

By ASPPA Net Staff12/18/2014 • 0 Comments

The EFAST2 2014 rollover changes will be implemented in the EFAST2 production system Jan. 1, 2015. The Department of Labor has issued a reminder about that for EFAST2 third party software vendors on Dec. 16. READ MORE

By John Iekel12/17/2014 • 0 Comments

Filers of Forms 5500 and M-1 will now be able to prepare for 2014 filing. Advance copies of the 2014 Forms 5500 and 5500-SF are now available, the DOL’s Employee Benefits Security Administration announced on Dec. 15. READ MORE

By Judy Miller12/15/2014 • 0 Comments

Lawmakers have crafted and approved a sweeping bipartisan solution to address the mammoth funding shortfalls of the multiemployer plan system — a solution that is likely to have a long-term impact on defined benefit pension plans for both single and multiemployer arrangements.
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By John Iekel12/12/2014 • 0 Comments

The IRS in Notice 2014-77 has updated the 2014 Cumulative List of Changes in Plan Qualification Requirements. The list is primarily for single-employer individually designed defined benefit plans plans and single-employer individually designed defined contribution plans that are in Cycle E to use when they submit determination letter applications for plans between Feb. 1, 2015 and Jan. 31, 2016.
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By Andrew Remo12/11/2014 • 0 Comments

Legislation working its way through Congress designed to avoid a government shutdown also contains some pension plan provisions. READ MORE

By John Iekel12/10/2014 • 0 Comments

New Year’s Eve is the deadline for most 2014 required minimum distributions to be made. The IRS issued that reminder Dec. 8 in news release IR-2014-112. Generally, RMDs from 401(k), 403(b) and 457 plans as well as IRAs must be made by Dec. 31. READ MORE

By ASPPA Net Staff12/10/2014 • 0 Comments

Rollovers can be an important way to preserve retirement savings and postpone paying taxes on distributions. The IRS has an updated rollover chart that can help in determining which kinds of rollovers can be made to which accounts.
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By John Iekel12/8/2014 • 0 Comments

June 30, 2015 is the new deadline for submitting on-cycle applications for opinion and advisory letters for pre-approved defined benefit plans for the plans’ second six-year remedial amendment cycle. READ MORE

By Nevin Adams12/8/2014 • 0 Comments

By a large bipartisan majority, the U.S. House of Representatives last week passed tax-extender relief legislation that includes a provision that would affect multiemployer pension plan funding. READ MORE

By John Iekel12/5/2014 • 0 Comments

On Jan. 2, 2015, the IRS Tax Exempt and Government Entities (TE/GE) Division will transfer those duties to the IRS Office of Associate Chief Counsel (TE/GE), which then will take on technical responsibilities concerning qualified retirement plans and IRAs. READ MORE

By Andrew Remo12/3/2014 • 0 Comments

More than a dozen states are at various stages of considering some kind of "automatic IRA" proposal, but the Land of Lincoln may have just leapt to the front of the line. READ MORE

By Craig Hoffman12/1/2014 • 0 Comments

While it is not unusual for federal agencies to update their planned agenda for new regulations and other guidance periodically, some recent updates the Department of Labor announced to its Fall 2014 Regulatory Agenda have drawn heightened interest. READ MORE

By Nevin Adams12/1/2014 • 0 Comments

The IRS has amended the safe harbor explanations provided with eligible rollover distributions to accommodate recent guidance on in-plan Roth rollovers and the allocation of taxable amounts. READ MORE

By Nevin Adams11/19/2014 • 0 Comments

Five Senate Finance Committee members are asking Treasury Secretary Jack Lew for some retirement plan relief. They cite testimony provided in committee and “commonsense suggestions” that include several that ASPPA and NAPA have actively promoted. READ MORE

By Judy Miller11/17/2014 • 0 Comments

When the 113th Congress wraps up in December, it won’t have much to show for its term. Will the 114th Congress that convenes in January be any different? READ MORE

By Nevin Adams11/10/2014 • 0 Comments

Having regained their Senate majority and deepened their hold on the House, the GOP — with a wary eye on the 2016 elections — may be ready to deal. READ MORE

By ASPPA Net Staff11/7/2014 • 0 Comments

Location could be a factor in retirement plan participation, according to a new report by the Employee Benefit Research Institute (EBRI). It notes that, not only do workers’ demographic characteristics affect the probability of their participation in an employment-based retirement plan, but their geographic location also has an impact. READ MORE

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