Regulatory Compliance

Regulatory Compliance covers compliance with ethical codes of conduct as well as those promulgated by FINRA and the SEC. 


 

 

Regulatory Compliance

Regulatory Compliance

By John Iekel10/29/2014 • 0 Comments

Remember the kids' game, Hot Potato? Seems like there's a grown-up version too, for plan administrators who perform a fiduciary role. That was what Nicholas J. White, Special Counsel at Trucker Huss, addressed in an Oct. 28 session at ASPPA's 2014 Annual Conference at National Harbor, Md. READ MORE

By John Iekel10/28/2014 • 0 Comments

Never a dull moment for plan administrators and actuaries. And that’s even more true when you throw federal regulations into the mix. A panel discussion at ASPPA’s 2014 Annual Conference on Monday, Oct. 27 provided an update on regulatory changes affecting DB plans . READ MORE

By John Iekel10/28/2014 • 0 Comments

The finer points of administering a cash balance plan and working with equivalent benefit accrual rates were the topics of discussion at an Oct. 27 session of the 2014 ASPPA Annual Conference. Lawrence Deutsch, president of Larry Deutsch Enterprises, and Michael B. Preston of Preston Actuarial Services offered their insights. READ MORE

By John Iekel9/29/2014 • 0 Comments

They’ve been a while in coming, but they are here: the IRS on Sept. 26 issued final regulations on electronic filing of Form 8955-SSA and Form 5500-EZ in certain circumstances. The IRS had issued the regs in proposed form in August 2013 READ MORE

By John Iekel9/25/2014 • 1 Comments

The Pension Benefit Guaranty Corporation on Sept. 24 issued Technical Update 14-1, guidance on how the Highway and Transportation Funding Act of 2014 (HATFA) affects PBGC premiums. READ MORE

By John Iekel9/23/2014 • 0 Comments

Oregon State Treasurer Ted Wheeler has presented the legislature with recommendations for increasing Oregonians’ retirement savings, access to a retirement plan and ability to enroll in one. The recommendations are the work of the state’s Retirement Security Task Force.
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By John Iekel9/23/2014 • 0 Comments

Oregon State Treasurer Ted Wheeler has presented the legislature with recommendations for increasing Oregonians’ retirement savings, access to a retirement plan and ability to enroll in one. The recommendations are the work of the state’s Retirement Security Task Force.
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By John Iekel8/28/2014 • 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 Nevin Adams8/28/2014 • 0 Comments

What happens to executive retirement benefits when employers close or freeze their defined benefit pension plans? What if that plan is a hybrid/cash balance? And what does that mean for advisors? Towers Watson recently conducted an analysis of how Fortune 200 companies in 2013 transitioned executives after changing their underlying broad-based retirement programs to find the answers. READ MORE

By John Iekel8/27/2014 • 0 Comments

This summer, for the first time in more than 20 years, Hawaii was hit by a named tropical system. ays later, a second churned offshore. Hurricane Arthur splashed through North Carolina’s Outer Banks just before July 4. And the height of the Atlantic hurricane season is about to arrive. This portends the possibility of significant property losses, business disruption and the need for hardship distributions from 401(k)s. READ MORE

By John Iekel7/28/2014 • 0 Comments

Is the Form 5500 worth filling out and filing in the first place? Not everyone is convinced, reports Benefitspro. But file they must, and the Government Accountability Office (GAO) has come to the rescue, offering suggestions in its recent report, “Private Pensions: Targeted Revisions Could Improve Usefulness of Form 5500 Information” regarding how the form could be made more useful. READ MORE

By John Iekel7/17/2014 • 0 Comments

The PBGC is stopping its enforcement efforts in open cases involving ERISA Section 4062 (e), and will not take on any new ones until after Dec. 31, 2014. In a July 8 press release, the agency said it is doing so to ensure that its efforts are targeted at cases in which pensions genuinely are at risk. The agency also said that it plans to work with the business community, labor and other stakeholders during this period. READ MORE

By John Iekel6/27/2014 • 0 Comments

According to Acting Director of IRS Employee Plans Thomas Petit, the IRS still lists 401(k) plans among its top examination priorities. Petit provided that confirmation to attendees of the ASPPA Regional Conference in Chicago. READ MORE

By John Iekel6/20/2014 • 0 Comments

You were sure your filing with the IRS was accurate, but you double checked and found that you made a mistake. It’s tempting to stand pat and hope that the IRS won’t notice, but you know it could — and that could have negative ramifications. What to do?  READ MORE

By John Iekel6/20/2014 • 0 Comments

Defined benefit plans, DC plans and 403(b) annuity arrangements, take note: July 31 is right around the corner. That’s the day by which most plans must file the dreaded and onerous Form 5500. The clock is ticking on filing the form that reports on 2013.  READ MORE

By John Iekel6/19/2014 • 0 Comments

Generally, federal law requires employee benefit plans with 100 or more participants to have an audit as part of their obligation to file a Form 5500. Note that some pension plans with fewer than 100 participants also may be required to have an audit if they fail to meet certain conditions relating to their plan investments, bonding, and disclosure requirements. READ MORE

By Craig Hoffman6/13/2014 • 0 Comments

Internal Revenue Code (IRC) Section 412(d)(2) was originally enacted as part of ERISA over 40 years ago. It provides that certain plan amendments adopted after the close of the plan year may be given retroactive effect. In an informal answer to a question raised in conjunction with the 2011 Enrolled Actuaries Conference, the IRS seemed to contradict the clear meaning of this wording. 
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By Craig Hoffman6/12/2014 • 0 Comments

ASPPA has suggested ways in which the Department of Labor could improve the proposed amendment to the Section 408(b)(2) fee disclosure regulations. READ MORE

By Fred Barstein6/11/2014 • 0 Comments

Rep. George Miller (D-Calif.) has asked Labor Secretary Tom Perez to look at potential conflicts of interest among pension consultants that recommend their own investments to clients, The Wall Street Journal reports.  READ MORE

By John Iekel5/27/2014 • 0 Comments

More than 90 percent of the plan sponsors that filed their final Form 5500 filings the IRS Employee Plans Compliance Unit (EPCU) examined in its “Final Return With Assets Project” had at least one error, the IRS reports. Final Forms 5500 are required even if a plan has been exempt from filing a Form 5500-EZ (the annual return of a one-participant retirement plan) in previous years. READ MORE

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