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The rules on rollovers have changed – most recently as a part of tax reform – and the IRS has now updated the safe harbor notices.
IRS Notice 2018-74 modifies the two safe harbor explanations in Notice 2014-74 that may be used to satisfy the requirement under Section 402(f) of the Internal Revenue...
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The IRS has granted a variety of forms of relief for victims of Hurricane Florence. The relief is for individuals as well as businesses, and includes requirements related to compensation.
As of Sept. 17, individuals who reside or have a business may qualify for tax relief in the following North...
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Step inside the chamber, and we will gaze at the crystal ball. ASPPA’s Sept. 11 invitation offered a look at seven trends in the retirement industry that will have a significant impact — and, in fact, already are.
In “Didn’t See THAT Coming: Seven Industry Trends Will Shape the Future,” American...
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The Department of Labor (DOL) recently announced the creation of a new Office of Compliance Initiatives (OCI) to promote greater understanding of federal labor laws and regulations, including those involving retirement security, health, and other employee benefits.
Established within the Office of...
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Human nature affects behavior — including savings behavior. A recently released white paper argues that if employers and plan professionals understand human nature, they can better help employees’ saving rates improve — and that includes saving for retirement.
In the August 2018 white paper “The...
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A component of President Trump’s retirement security Executive Order is to review the required minimum distribution (RMD) rules to see if they may be forcing Americans to make unnecessary withdrawals, leaving them with insufficient savings later in life.
In particular, the order directs the...
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Is it appropriate for traditional life insurance to be connected with retirement plans? A feature article that appeared in the Summer 2018 issue of Plan Consultant magazine offers a refresher on split-funded funds and the interaction between retirement plans and life insurance.“Delicate Interaction...
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Following a day-long and occasionally contentious markup session, on Sept. 13 the House Ways & Means Committee approved on party-line votes three tax bills as part of the Tax Reform 2.0 push – one of which focuses on retirement savings.
The Family Savings Act (H.R. 6757), which draws...
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The Pension Benefit Guaranty Corporation (PBGC) is issuing rules to implement its authority to facilitate mergers and transfers between multiemployer pension plans, the agency announced on Sept. 13. The final regulation updates the general requirements on plan mergers and transfers of plan assets...
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As consideration of Tax Reform 2.0 begins in the U.S. House of Representatives, the congressional Joint Tax Committee (JTC) has released revenue tables with estimates about the impact of the provisions on tax revenues.
The Family Savings Act — one of three bills under consideration — draws...
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