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Illinois’ mandatory auto-enrollment state-IRA program for private sector employers, Illinois Secure Choice, “may” have just become voluntary.
Illinois Governor Bruce Rauner (R) issued what’s called an amendatory veto on Aug. 14, which made technical changes to the Secure Choice program to change...
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Editor’s Note: This post is an updated and expanded version of the Legislative column published in the Fall 2018 issue of Plan Consultant magazine.
On a host of issues, the map of the U.S. is a crazy quilt, with states creating a kaleidoscope of responses to problems and circumstances — one of...
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The IRS has made available revised versions of a number of forms used for its Voluntary Correction Program (VCP). The IRS featured this development in the Aug. 14 edition of its Employee Plans Newse-newsletter.
The forms the IRS revised are Model VCP Schedules — Forms 14568-B, 14568-E and 14568-H,...
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The IRS has made available revised versions of a number of forms used for its Voluntary Correction Program (VCP). The IRS featured this development in the Aug. 14 edition of its Employee Plans Newse-newsletter.
The forms the IRS revised are Model VCP Schedules — Forms 14568-B, 14568-E and 14568-H,...
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Timing is everything, it is said. That premise can hold regarding retirement as well — for employers as well as employees, says a recent blog entry.
In its recent blog entry “When Employees Retire Matters to Them… and to Employers,” Fiduciary Plan Governance, LLC argues that when an employee...
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The ASPPA Annual Business Meeting will be held on Sunday, Oct. 21, 2018, at 4:40 p.m. during the 2018 ASPPA Annual Conference in National Harbor, Md.The Annual Business Meeting will include an address by ASPPA’s 2018 President, Adam C. Pozek, QPA, QKA, CPFA; a look toward the future by incoming...
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The Department of Labor announced Aug. 2 that they are soliciting nominations for vacancies on the ERISA Advisory Council on Employee Welfare and Pension Benefit Plans. Nominations are due by Sept. 17, 2018. Click here for details.
Additionally, the Joint Board for the Enrollment of Actuaries is...
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Information letters, regulations, legislation aplenty — in ASPPA’s third quarter Washington Update, American Retirement Association Director of Technical Education Robert Kaplan provided his take and insights.
At the IRS
IRS information letters are always relevant — Kaplan remarked that he finds...
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Washington, and federal agencies, are rife with an alphabet soup of acronyms — and the IRS is certainly part of it. A recent blog entry addresses some of the collections of letters applicable to auto-enrollment.
In “Making Sense of Auto-Enrollment Rules,” Michael Webb of Cammack Retirement...
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The judge in a recent excessive fee case decision had a lot to say – about the plan committee members – and the expert witnesses called to testify.
I’m talking about the recent decision in Sacerdote v. N.Y. Univ., S.D.N.Y., No. 1:16-cv-06284-KBF, judgment 7/31/18, a suit brought by participants in...
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We’ve been hard at work filling an extensive schedule with options to meet your continuing education credit requirements, strengthen your knowledge, and expand your expertise. There will be a number of sessions that encourage audience participation and discussion, fostering engagement with your...
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The answer to most “knock knock” jokes is hilarious and funny. However, the answer, “GDPR, GDPR, GDPR,” to my “Knock Knock! Who's there?” post on the ACOPA Listserv on June 6, 2018, is anything but hilarious and funny.
What is GDPR?
The acronym GDPR stands for the General Data Protection...
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For those who may have been preoccupied with last year’s deadline season, the ASB adopted a new ASOP last September 2017. This ASOP has been a few years in the making, with the First Exposure Draft in December 2014 and the Second Exposure Draft in June 2016. We are now approaching the effective...
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There is no shortage of concern regarding Americans’ retirement readiness. A recent report offers a look at that measure and finds that readiness — or the lack thereof — is not uniform across all groups and worker populations.
In “America’s Workforce: The Reality of Retirement Readiness” the...
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The ASPPA College of Pension Actuaries (ACOPA) honored Norman Levinrad, EA, CPC, FSPA, MAAA, with the 2018 Edward E. Burrows Distinguished Achievement Award at the ACOPA Actuarial Symposium in Chicago on Aug. 10.
The Edward E. Burrows Distinguished Achievement Award is presented annually to a...
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The Treasury Department and the IRS issued proposed regulations Aug. 8 on the deduction for qualified business income under the new Code Section 199A.
Enacted as part of the Tax Cuts and Jobs Act (TCJA), the new Section 199A provides a deduction of up to 20% of income from a domestic business...
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Trump administration officials are focusing on a former SEC enforcement attorney to replace Democratic Commissioner Kara Stein, who must step down by the end of the year, Bloomberg reported Aug. 6.Allison H. Lee served as a general attorney in the SEC’s Denver office from 2005 to 2013, followed by...
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To be sure, missing participants pose a significant and vexing challenge to plans, TPAs and recordkeepers. But troublesome as they are, cashouts ultimately are an even bigger issue, a service provider suggests.
Calling cashouts “orders-of-magnitude worse,” Retirement Clearinghouse’s Tom Hawkins ...
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While interest surrounding financial wellness programs appears to be growing in the workplace, there continues to be a lack of understanding about the value they deliver to both employers and employees, according to a recent report.
In “Assessing the Merits and Challenges of Financial...
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The March 15 decision by the 5th U.S. Circuit Court of Appeals to invalidate the DOL fiduciary rule resolved some issues – and created some uncertainties for retirement plan advisers, most notably their status regarding rollover advice to plan participants in plans to which the adviser is currently...
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