Advertisement
News Archive
Following are some tips concerning distributions of benefits.
Prepare and maintain distribution notices and elections.
Provide distribution forms to participant, including the 402(f) notice for rollover information. The IRS provides language periodically for a 402(f) notice, also referred to...
READ MORE
For the very most part, you can’t offload or outsource your ERISA fiduciary responsibility.
ERISA has a couple of very specific exceptions through which you can limit—but not eliminate—your fiduciary obligations. One has to do with the specific decisions made by a qualified investment manager—...
READ MORE
The economic strains occasioned by the pandemic have had wide-ranging effects, and one of the actions put in place is to ease the rules concerning hardship withdrawals and loans. But availability has not made them a widespread response to economic challenges, recent studies have found.
Loan and...
READ MORE
Addressing the 2020 NAPA D.C. Fly-In Forum July 21, a key Department of Labor (DOL) official confirmed that the DOL’s deadline relief provided in response to the Coronavirus pandemic also applies to initial paper notices under the DOL’s new electronic disclosure regulations.
Responding to a...
READ MORE
June 30, 2020—the deadline for employers to adopt an Internal Revenue Service (IRS) pre-approved 403(b) plan document for the first time—has passed. That date also marked the deadline for 403(b) sponsors to retroactively correct defects in their 403(b) plan documents (whether pre-approved or...
READ MORE
For 403(b) plan eligibility determinations, the IRS says that “Once in, Always in” is much better than “In and Out.” So—in MarketBeat, Maria Hurd asks whether your part-time employees are “In and Out.”
READ MORE
Recent survey results found that the economic fallout from COVID-19 has altered the perception of when many workers plan to retire, but retirement confidence levels appear to be rebounding somewhat.
The Wells Fargo/Gallup Investor and Retirement Optimism Index, based on interviews of more than...
READ MORE
NTSA is always providing information and insights that will be valuable to its members! Following is information about NTSA webcasts.
Upcoming Webcast
NTSA Webcast: Pandemic Pandemonium—Navigating the new COVID-19 Retirement Plan Rules
Thursday, July 30, 2020
2:00 – 2:50 p.m. ET
...
READ MORE
Tech Talk addresses how one identifies excess contributions.
READ MORE
On May 21, the Department of Labor (DOL) finalized a new safe harbor for electronic disclosures. A July 9 Plan Sponsor Council of America (PSCA) webcast discussed the new safe harbor, the scope of the rules and what it all means.
Panelists in “The New Electronic Disclosure Rule Is Here!” included...
READ MORE
The IRS on July 17 issued a reminder that under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the rules regarding required minimum distributions (RMDs) are different in 2020.
The CARES Act waives RMDs during 2020 for IRAs and retirement plans, including beneficiaries with...
READ MORE
A group of Senate Democrats is calling on the Labor Department to withdraw its proposal clarifying the investment duties of ERISA plan fiduciaries in relation to environmental, social and governance (ESG) criteria, saying the proposal would discourage financial advisors from supporting racial...
READ MORE
The Centennial State has joined those providing a state-sponsored program for those whose employers do not offer a retirement plan. Gov. Jared Polis (D) on July 14 signed into law SB20-200, a measure creating the Colorado Secure Savings Program.
The measure amends the Colorado Secure Savings Plan...
READ MORE
Legislation has been introduced in the New Jersey state legislature that would impose a tax on financial transactions—including those in your 401(k)—to fix the state’s widening budget gap.
Unlike other financial transaction tax (FTT) proposals, however, this bill takes a slightly different...
READ MORE
In Segment II of the 14th Series of the NTSA WOWcasts, NTSA Past President Randy Aranowitz interviews 2016 Elite Advisor and NTSA Past President Adam Pearce, CFP®, CRES CERTIFIED FINANCIAL PLANNER™, who is part of Lincoln Investment’s Phoenix AZ office. They discuss Pearce’s business model,...
READ MORE
Hiring a co-fiduciary doesn’t keep you from being an ERISA fiduciary.
All fiduciaries have potential liability for the actions of their co-fiduciaries. If a fiduciary knowingly participates in another fiduciary’s breach of responsibility, conceals that breach, or does not take steps to correct...
READ MORE
When making the determination of contribution levels, do the following:
Identify census parameters.
Provide census information to determine contribution limits, vesting.
If employees are not immediately eligible, determine employees eligible to participate in each type of contribution...
READ MORE
Retirement plans made gains in 2019—and although they’ve been challenged by a pandemic and sudden economic downturn, they show surprising resiliency, two recent studies show.
Retirement plans had a good year in 2019, T. Rowe Price points out in its “Reference Point Annual Benchmarking Report,”...
READ MORE
Noting that the Department of Labor previously held several days of hearings under the former fiduciary rule, the ranking Democrat on the Senate committee with primary jurisdiction over ERISA-related issues has called on the DOL to hold a hearing.
The request comes from Sen. Patty Murray (D-WA...
READ MORE
The IRS has updated the information it provides to help plan sponsors and practitioners achieve operational compliance by identifying changes in qualification requirements effective during a calendar year. The operational compliance list:
identifies matters that may involve either mandatory or...
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...