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The American Retirement Association has been working with key lawmakers to include legislation that would provide tax relief to individuals and employers that suffer a sustained economic loss from the COVID-19 outbreak.
The relief would be patterned after the disaster relief that was provided in...
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At the American Retirement Association, the health and safety of our staff is paramount, and we remain committed to the support of the critical work of our members. Consequently, amidst growing concerns about the Coronavirus, the increasing number of schools and businesses that are closing, among...
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Considering the ongoing and future business impacts of the coronavirus, the American Retirement Association asked the Treasury and DOL for relief from certain retirement plan filing deadlines.
“The American Retirement Association is writing to request relief from certain provisions under the...
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The American Retirement Association (ARA) is pressing the IRS to extend the remedial amendment period for 403(b) plans by one year.
The ARA made the recommendation in a March 16 letter to Cathy Jones, Director of the IRS Office of Employee Plans, in which it comments on the 403(b) plan remedial...
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A bill has been introduced that would make it possible for 403(b) plans to invest in a broader array of forms of investment than they can currently.
The Public Service Retirement Fairness Act, introduced by Rep. Jimmy Panetta (D-CA), would allow 403(b)s to invest in collective investment trusts...
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There are few things more annoying in daily existence than those ubiquitous pop-up service agreement acknowledgements, writes Nevin Adams in MarketBeat. He discusses a recent Supreme Court decision in which the Court weighed in on a case involving participant disclosures.
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Tech Talk addresses where the RMD of a participant who has died should be sent.
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The DOL’s Advisory Council on Employee Welfare and Pension Benefit Plans has released a report addressing transfers of uncashed distribution checks that ERISA plans issue to state unclaimed property programs.
In “Voluntary Transfers of Uncashed Checks from ERISA Plans to State Unclaimed...
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In Part I of the 11th Series of the NTSA WOWcasts, NTSA Past President Randy Aranowitz interviews Richard Williams, President and CEO of Williams and Co., who is a 2015 NTSA Elite Advisor as well as a member of the current NTSA Leadership Council. They discuss Williams’ background and business.
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ERISA sets forth the style and format that are to be used for summary plan descriptions (SPDs). All plans subject to ERISA, including ERISA-covered 403(b)s, must pay close attention to the rules for how these documents are to be prepared for participants.
§ 2520.102-2 Style and format of...
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Remember, an exchange can only be accepted by vendors that have been included in the employer’s plan.
Thus, the employer may be asked to “sign off” on every exchange transaction form or provide a list of the approved vendors in the plan with agreement that exchanges will be accepted only by...
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The IRS announced on March 11 that high-deductible health plans (HDHPs) can pay for 2019 Novel Coronavirus (COVID-19)-related testing and treatment without jeopardizing their qualified status. This also means that an individual with an HDHP that covers these costs may continue to contribute to a...
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The Government Accounting Standards Board (GASB) has issued a proposed statement on certain component unit criteria and accounting and financial reporting for 457 deferred compensation plans. The proposal is contained in a GASB Exposure Draft issued on March 5.
The primary objectives of this...
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The Setting Up Every Community for Retirement (SECURE Act) Act was enacted on Dec. 20, 2019 as part of the Further Consolidated Appropriations Act of 2019. Many of these provisions had been pending in Congress for some time, and the law brings about the biggest changes in retirement since the...
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California’s auto-IRA program for private sector workers has prevailed against claims that it runs afoul of ERISA’s preemption.
The suit, filed in the U.S. District Court for the Eastern District of California in 2018 by the Howard Jarvis Taxpayers Association, Jonathan Coupal and Debra Desrosiers...
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The IRS has updated comprehensive resources designed to help anyone making IRA contributions or receiving IRA distributions for tax year 2019 or considering making retirement donations before April 15, 2020.
The publications, both of which address the unique features of Roth IRAs and traditional...
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The Maryland Small Business Retirement Savings Program (MSBRSP) is seeking proposals for program administration and investment management services. It seeks them to assist in the development of Maryland$aves, a state-sponsored, payroll-deduction IRA retirement savings program.
The MSBRSP will...
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Transamerica has announced the availability of a new, custom stable value separate account product developed specifically for 403(b) retirement plans. The Transamerica Capital Preservation Option is a group annuity contract issued by Transamerica Life Insurance Company.
The firm notes that,...
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In MarketBeat, John Iekel discusses a blog post that answers the seemingly obvious question of whether RMDs have to be paid for a deceased participant.
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Tech Talk addresses how to calculate an RMD for a deceased participant.
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Recent Comments
Does the roth requirement for catch-up contributions for people who earned $145,000 apply to 457...
Hi Ed,
I really liked this article and I think you make a lot of sense. And I had no...
I believe there's a misstatement in that last quote - it should refer to governmental and...
Working with several medical providers as clients, I note that the high-end earners tend to push...
Congratulations to NTSAA for landing a good one. Nathan's breadth of experience and...