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The Department of Labor’s Employee Benefits Security Administration (EBSA) on Feb. 4 updated five frequently asked questions concerning electronically filing the Form 5500 via the EFAST2 system.Following are the changes EBSA made:The Department of Labor’s Employee Benefits Security Administration (...
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Public pension plans got a chilly start to 2015, according to a recent report by BNY Mellon Investment Strategy and Solutions Group (ISSG) concerning how they fared in January 2015.The assets of a typical plan were virtually unchanged from the month before, falling by a mere 0.1%. ISSG said that...
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The IRS cautions that entering incorrect information — or in some cases, leaving a field blank — on the Form 5500 increases the likelihood of being targeted for a compliance check.The IRS cites the following examples of these types of errors: Sponsors incorrectly entered 0 participants or left...
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The Kentucky House of Representatives currently has legislation before it that, if enacted, would make the Bluegrass State the second to have a state-run IRA program in place. Rep. Mary Jane King (D-16) on Feb. 3 introduced HB 261, a measure that would establish the Kentucky Retirement Account...
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There is an inverse relationship between the generosity of a local government defined benefit plan and its employees’ contributions to a supplemental retirement plan. The Center for State and Local Governmental Excellence reports in its issue brief, “Importance of Supplemental Retirement Saving...
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“Get to work” is essentially the message of the Florida Department of Management Services (DMS) to 19 local pension plans in the Sunshine State. The Florida Times Union reports that DMS on Jan. 27 told the plans, all of which are less than 50% funded, that they need to address their unfunded...
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Can a client move funds from a 401(k) to two IRAs with two different providers? Do the new rollover rules come into play? In this week’s Tech Talk, Ellie Lowder tells us whether they apply to rollovers from an employer-sponsored plan.
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It is challenging to predict what legislative and regulatory activity may be in store for retirement plans. Nonetheless, in this week’s MarketBeat Linda Segal Blinn offers a look at some of the initiatives to watch this year.
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Recent discussions in disparate parts of Wisconsin illustrate well how widespread the problems concerning public pension funding and benefits are.Menomonie and Milwaukee, Wis., are night and day. They are on opposite ends of the state. Milwaukee, the state’s largest city, has 37 times the...
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The IRS on Feb. 2 announced that the addresses it provided for filing applications for 403(b) pre-approved plans are incorrect. It provided those addresses in Revenue Procedure (Rev. Proc.) 2013-22, but also very recently in Rev. Proc. 2015-8.The correct address for applications for 403(b) pre-...
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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...