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The PATH Act, enacted Dec. 18, 2015, affects the money that can be rolled over into a SIMPLE IRA. In MarketBeat, Susan Diehl writes that many financial institutions have been struggling with such rollovers, and provides a breakdown of how this change affects SIMPLE plans and what institutions need...
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A church with one pastor established an employee deferral 403(b) plan via a mutual fund. There are no employer contributions, nor is there a plan document. Could the church establish a SIMPLE IRA as more pastors are added as long as there are no 403(b) contributions in the same plan year? In Tech...
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A provision in the Department of Labor’s (DOL) 2015 proposed fiduciary rule that would have had a significant impact on participant education has been modified in the final rule issued April 6. The revised provision aligns with recommendations made by the American Retirement Association. In the...
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While the devil is in the details, the Department of Labor’s (DOL) final fiduciary rule includes some improvements in the best interest contract (BIC) exemption from the previous proposal. Variable compensation is, as it was in the original proposal, allowed under a BIC exemption. The BIC is...
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After a five-month comment period, four days of public hearings, more than 3,000 comment letters, some 300,000 petitions, and more than 100 meetings with stakeholders, nearly a year to the day that the Department of Labor (DOL) unveiled its “Conflicts of Interest” proposal, we have a final...
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In a big win for the advocacy efforts of the American Retirement Association and the National Tax-Deferred Savings Association (NTSA), as well as for plan advisors' abiilty to help participants with rollover decisions, the DOL’s final fiduciary regulation provides a streamlined exemption for “level...
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The long-awaited and controversial final DOL regulation redefining an investment advice fiduciary is out. This regulation will significantly affect how advisors work with plan sponsors, plan participants and IRA owners. NTSA will be holding a complimentary webcast to help 403(b) advisors understand...
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The IRS has found discriminatory plan designs among some defined benefit and defined contribution plans, as well as DB/DC combination plans. The IRS made the report on a portion of its Retirement Plans website, which it updated on April 1.The discriminatory plan designs the IRS identified are among...
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The IRS is providing a new option that allows financial institutions service providers that offer a plan document to request a closing agreement on behalf of all adopters that missed the deadline for adopting a pre-approved plan. The IRS reports the option on a portion of its website devoted to...
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Health savings accounts provide a tax-free vehicle for participants to accumulate investments in order to reimburse out-of-pocket medical expenses. In MarketBeat, Kimberly Flett discusses the advantages of establishing one, as well as how they relate to retirement plans.
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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...