Craig Hoffman

The Labor Department has issued a new set of FAQs on the fiduciary regulation that embraces the recommendations made by the ARA/NAPA Government Affairs Committee (GAC) in a recent comment letter.To recap, the 408(b)(2) regulation requires certain service providers to ERISA-governed retirement plans... READ MORE

Although hardship distributions have been a popular feature in 401(k) plans for more than 30 years, they remain a continuing source of aggravation for plan administrators. One thorny problem is what documentation that must be received and maintained to justify making a hardship distribution. This... READ MORE

Those who have been concerned about the Labor Department’s recent extension of authority to state governments to run so-called “open” MEPs may now have an opportunity to compete more effectively with that alternative.In November, the Department of Labor (DOL) issued Interpretive Bulletin (IB) 2015-... READ MORE

The final version of the 2015 Form 5500 was released on Dec. 3 and, in a victory for ASPPA GAC, the new IRS compliance questions were made optional (at least for the 2015 plan year). As has been reported in prior ASPPA Connect articles as well as ASPPA asaps, the IRS had proposed a number of new... READ MORE

ASPPA’s Chicago Regional Conference, to be held June 4 and 5, is not to be missed by practitioners who need to get up to date on the most important developments affecting plan sponsors and the professionals who advise them.The Department of Labor has released the long awaited “conflicted advice”... READ MORE

On March 19, 2015, the Government Affairs Committee (GAC) of the American Society of Pension Professionals & Actuaries (ASPPA) filed a comment letter with the IRS regarding suggested changes to the Employee Plans Compliance Resolution System (EPCRS). The letter provided specific recommendations... READ MORE

On Jan. 1, 2015, the IRS transferred responsibility for certain technical work from its Employee Plans Division to the IRS Chief Counsel’s office. This transfer was known to be coming based on previous statements made by various IRS officials. Two recent IRS issuances, IRS Announcement 2014-34 and... READ MORE

A regulation that would allow for a “window” period for giving out the annual notice required in most 401(k) plans appears to be heading for a spring 2015 publication date — and that could be good news for your plan sponsor clients.A new addition to the November 2014 DOL guidance plan was a project... READ MORE

Just when plan administrators were beginning to feel comfortable with their procedures for participant benefit statements, changes are in the offing. The Department of Labor’s most recent guidance plan includes a listing for a proposed regulation due out in January 2015. This proposal is expected... READ MORE