Government Affairs

Government Affairs

Government Affairs

By Nevin Adams1/14/2015 • 0 Comments

Illinois Attorney General Lisa Madigan (D) is arguing that the Land of Lincoln has “police powers” that allow it to change a contract in extraordinary circumstances, including changes to the state’s public pensions contained in a 2013 pension overhaul.
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By Andrew Remo1/14/2015 • 0 Comments

House Budget Committee ranking member Rep. Chris Van Hollen (D-Md) unveiled a set of tax proposals Jan. 12 that are said to be designed, at least in part, to redistribute current tax breaks for the wealthy to middle-class workers.

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By John Iekel1/13/2015 • 0 Comments

The Pension Benefit Guaranty Corporation on Jan. 12 issued a draft of the 2015 premium filing form and instructions. It provides information for plans paying premiums for plan years beginning in 2015, including instructions for all the particular forms of data that must be reported.
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By John Ortman1/7/2015 • 0 Comments

The House of Representatives adopted a rule change Jan. 6 that directs Congress’ legislative analysts — the Joint Committee on Taxation and the Congressional Budget Office — to incorporate the economic effects of major legislation into their official cost estimates of proposed legislation. READ MORE

By John Iekel1/7/2015 • 0 Comments

In enforcing the law, the Pension and Benefit Guaranty Corporation (PBGC) needs to remember its mission to preserve and protect defined benefit plans; that was PBGC Participant and Plan Sponsor Advocate Constance Donovan's message in the report she issued Dec. 31. READ MORE

By John Iekel12/29/2014 • 0 Comments

All disbursements from a retirement plan scheduled to be made at the same time are treated as a single distribution even if they are sent to multiple destinations, a new rule that becomes mandatory as 2015 dawns. READ MORE

By Andrew Remo12/29/2014 • 0 Comments

Retiring Sen. Tom Harkin’s (D-IA) signature piece of retirement legislation, the USA Retirement Funds Act, has found a champion to carry it into the next Congress.
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By ASPPA Net Staff12/23/2014 • 0 Comments

U.S. Secretary of Labor Thomas E. Perez has announced the appointment of five new members to the 2015 Advisory Council on Employee Welfare and Pension Benefit Plans — also known as the ERISA Advisory Council. READ MORE

By Andrew Remo12/23/2014 • 0 Comments

While finalizing many of the details of the MyRA program, Treasury and the Department of Labor (DOL) may have unearthed some serious new questions. READ MORE

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

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