Advertisement
News Archive
A bipartisan group of lawmakers last week introduced legislation that they say will “ensure retirement advisors serve their clients’ best interests and preserve access to quality financial planning.” It would also require an affirmative vote of Congress before the final fiduciary rule from the...
READ MORE
It’s the time of year when Santa — and those who work with 403(b) plans — are making their end-of-year lists — and checking them twice.To that end, the lawyers at Snell & Wilmer have prepared the following end-of-year “to do” list for 403(b) plans. Adopt Design Changes by the End of the Plan...
READ MORE
Legislation has been introduced in the Senate that could have significant consequences for public pension plans.Senate Finance Committee Chairman Orrin Hatch (R-Utah) has introduced The Puerto Rico Assistance Act of 2015 (S. 2381), a bill generally intended to address Puerto Rico’s debt crisis,...
READ MORE
Among the strongest trends of the outgoing year: growth in employee engagement in their financial wellness, use of annuities and offerings of qualified longevity annuity contracts (QLACs). And next year may bring more of the same. So say two recently released studies that look at what’s been...
READ MORE
Individualized transactions, and advisors focused on 403(b)s, remain central to the 403(b) market, says a recent report. In “Targeting Opportunities for Managed Accounts in Defined Contribution,” Cerulli Associates says that professionals that offer expertise and specialization figure prominently...
READ MORE
Those hoping that the Department of Labor's (DOL) fiduciary rule would be derailed in congressional budget negotiations found coal in their pre-Christmas stockings instead. Published reports had indicated that some lawmakers had tried to attach a rider to the omnibus spending bill that would...
READ MORE
As a follow up to the DOL's recent guidance allowing states to sponsor multiple employer 401(k) plans, Congress this week is expected to pass legislation that could have a meaningful long-term impact on the 401(k) industry.The legislation, included in the tax extenders package, would create Pooled...
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
Keeping a finger on the pulse of how well a 403(b) plan is fulfilling the requirement that it provide effective opportunity to participate in the plan is one way to take stock of how well the plan is adhering to universal availability — and in the process avoiding not only errors but also the...
READ MORE
Does a legal separation from a spouse qualify one for a qualified domestic relations order, or can only a divorce lead to a QDRO? In Tech Talk, Ellie Lowder tells us.
READ MORE
The IRS on Dec. 14 issued the 2015 Cumulative List of Changes in Plan Qualification Requirements. The list, contained in Notice 2015-84, is to be used by plan sponsors and practitioners submitting determination letter applications for plans during the period beginning Feb. 1, 2016 and ending Jan....
READ MORE
Time is running out to benefit from early registration rates for the 2016 403(b) Masters Summit. Early Registration for the Summit ends Friday, Dec. 18 — if you haven’t yet, make sure to register today.The 2016 Summit will centers on three key themes:1. growing your business;2. market updates and...
READ MORE
The House on Dec. 11, and the Senate on Dec. 10, passed a short-term spending bill that will keep the government funded through Dec. 16. Whether budget legislation ultimately will include provisions affecting the Department of Labor’s (DOL) fiduciary rule remains uncertain.The Hill reports that the...
READ MORE
The IRS has updated the frequently asked questions about the Form 5500 series — and did so in a manner that makes them useful for 2015 reporting. The FAQs are as follows. Q. For the question that asks how the 401(k) plan satisfies the nondiscrimination requirements for employee deferrals and...
READ MORE
Some may consider it a bundle of coal, and others a vision of sugarplums, but a bipartisan group of lawmakers now says that their legislative proposal to ensure retirement advisors protect clients’ best interests could be introduced before the holiday break.The members of the bipartisan working...
READ MORE
For those thinking the impetus behind the Labor Department’s fiduciary proposal might fade with a change in administrations, think again.Earlier this week, presidential aspirant and likely Democratic nominee Hillary Clinton shared her perspective on the fiduciary proposal in no less a forum than a...
READ MORE
IRA holders and those who provide them services may be interested to know that the IRS has made modifications to the Form 5329, “Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts.” The IRS has issued the version to be used for 2015 reporting.The IRS modified Part...
READ MORE
Treasury and the IRS issued the notice in response to requests for clarification regarding how Obergefell applies to certain changes to employee benefit plans, such as a discretionary expansion of benefits not required under the federal tax rules. Highlights of the guidance, which appears in...
READ MORE
The federal budget bill being negotiated on Capitol Hill this week could become the battleship that eventually sinks the Department of Labor’s fiduciary rule.Investment News reported Dec. 6 that, according to Rep. Phil Roe (R-Ill.), it is possible that a measure to deny funding for the enforcement...
READ MORE
Those who are familiar with 457(b) plans know that they come in two separate and distinct “flavors” — governmental and private sector. In MarketBeat, Michael Webb discusses the similarities and differences between the flavors.
READ MORE
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...