Ted Godbout
By Ted Godbout 5/8/2020
The government has provided more time for borrowers to assess whether their loan under the Paycheck Protection Program (PPP) was necessary and whether they need to return it.
In a May 6 update to their Frequently Asked Questions (FAQs), the Small Business Administration and Treasury Department...
READ MORE
By Ted Godbout 5/7/2020
A controversial call by the IRS on deductibility of expenses under the Paycheck Protection Program is drawing fire from both parties and both houses of Congress.
No less than the chairmen of the congressional tax-writing committees have expressed concern with the IRS’ interpretation denying...
READ MORE
By Ted Godbout 5/4/2020
The IRS had some unwelcome news for plan advisors and small businesses that may be taking advantage of forgivable loans under the Paycheck Protection Program.
In short, the IRS is saying no to the potential for a double-tax benefit. The IRS advises in Notice 2020-32 released April 30 that it...
READ MORE
By Ted Godbout 4/30/2020
A new study finds that a significant percentage of plan sponsors have embraced the use of automatic plan design features, but adoption may have “plateaued” to some degree.
First fielded in 2010, the fifth edition of the Defined Contribution Institutional Investment Association’s (DCIIA) plan...
READ MORE
By Ted Godbout 4/28/2020
A senior Republican member in the House has introduced legislation to help those whose retirement savings have been harmed by the economic impact of the COVID-19 pandemic.
Rep. Patrick McHenry (NC), who serves as the ranking Republican on the House Financial Services Committee, introduced the...
READ MORE
By Ted Godbout 4/27/2020
Considering the recent market volatility and related economic fallout, new research by EBRI finds that the impact still appears to be recoverable.
In an April 21 Issue Brief, “Impact of the COVID-19 Pandemic on Retirement Income Adequacy: Evidence from EBRI’s Retirement Security Projection Model...
READ MORE
By Ted Godbout 4/24/2020
[UPDATED APRIL 24 AT 3:30 P.M.]
President Trump on April 24 signed into law a $484 billion COVID-19 stimulus bill which includes funding that can be used to help pay retirement benefits. The House of Representatives had approved the Paycheck Protection Program and Health Care Enhancement Act (H.R...
READ MORE
By Ted Godbout 4/21/2020
One issue the COVID-19 pandemic has brought a sharper focus on is that perceptions about when retirement will start and what it will entail are much different from the experiences of those already in retirement.
According to Allianz Life’s 2020 Retirement Risk Readiness Study, half of Americans...
READ MORE
By Ted Godbout 3/30/2020
President Trump on March 27 signed into law the sweeping $2.2 trillion stimulus bill that includes retirement relief provisions supported by the American Retirement Association.
It wasn’t easy—or at least not as easy as it might have been—but the signing of the Coronavirus, Aid, Relief and...
READ MORE
By Ted Godbout 3/27/2020
Editor's Note: The House has passed the Coronavirus, Aid, Relief and Economic Security (CARES) Act (H.R. 748 as amended). Read more about that here.
The sweeping $2 trillion stimulus bill that includes retirement relief provisions supported by the American Retirement Association may move one...
READ MORE
By Ted Godbout 3/27/2020
President Trump on March 27 signed into law the sweeping $2 trillion stimulus bill that includes retirement relief provisions supported by the American Retirement Association.
It wasn’t easy – or at least not as easy as it might have been – but the House of Representatives on March 27 approved the...
READ MORE
By Ted Godbout 3/26/2020
It’s not over yet, but after six days of intense negotiations, about midnight on March 25, the Senate unanimously approved a sweeping $2 trillion stimulus bill, including retirement relief provisions supported by the American Retirement Association.
The Coronavirus, Aid, Relief and Economic...
READ MORE
By Ted Godbout 3/25/2020
The American Retirement Association is calling on the Treasury Department to provide funding relief for DC plans to help employers facing significant financial burdens relating to the Coronavirus.
In a March 24 follow-up letter, the ARA notes that it is continuing to receive many questions about...
READ MORE
By Ted Godbout 3/25/2020
After five days of intense negotiations, the Senate was set to vote on March 25 on an unprecedented $2 trillion stimulus bill covering every aspect of the U.S. economy, including retirement relief provisions supported by the American Retirement Association.
Earlier on March 25, the Senate...
READ MORE
By Ted Godbout 3/24/2020
As the Senate squabbles over legislation designed to alleviate the impact of the coronavirus, the Speaker of the House has unveiled a version with slightly different provisions regarding retirement plans.
House Speaker Nancy Pelosi (D-CA), contending that the Senate Republicans’ bill “put...
READ MORE
By Ted Godbout 3/23/2020
The American Retirement Association, along with two dozen other trade organizations, are urging Congress to provide immediate relief to retirement plan sponsors, participants and retirees in the wake of the Coronavirus.
“The undersigned organizations, which represent plan sponsors and service...
READ MORE
By Ted Godbout 3/23/2020
A revised version of the CARES Act includes additional retirement relief provisions supported by the American Retirement Association, though the negotiations aren’t over yet.
After engaging in weekend negotiations with Senate Democrats and Trump administration officials, Senate Majority Leader...
READ MORE
By Ted Godbout 3/17/2020
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...
READ MORE
By Ted Godbout 2/24/2020
The Massachusetts Secretary of the Commonwealth has finalized a new fiduciary conduct standard, one that, consistent with the recommendation of the American Retirement Association, acknowledges ERISA’s preemption.
Contending that the SEC’s Regulation Best Interest falls short, Secretary William...
READ MORE
By Ted Godbout 2/24/2020
Plan design enhancements combined with positive savings behaviors and strong market conditions have helped push average retirement plan account balances.
Among the highlights in Fidelity Investments’ fourth quarter 2019 analysis of retirement savings trends is that the average balances of 403(...
READ MORE
Pages
Advertisement