Advocacy
The American Retirement Association on Feb. 21 sent a letter to the Oregon State Treasury containing its comments on the Oregon Retirement Savings Plan (ORSP), also known as OregonSaves. The ARA thanked the Oregon Treasury and the Oregon Retirement Savings Board for its work on the proposed rules...
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A Joker is taking over Gotham City. Known as the New York City Nest Egg Plan, it is an ambitious attempt to close the retirement plan coverage gap for residents of the largest city in the United States. But instead of focusing squarely on the coverage issue — which remains a legitimate concern for...
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The IRS on Jan. 13 announced that the last day of the remedial amendment period (RAP) for 403(b) plans is March 31, 2020. The American Retirement Association had recommended in a Feb. 23, 2016 letter to the IRS that it provide an initial restatement period of three years for employers adopting pre-...
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The IRS on Jan. 13 announced that the last day of the remedial amendment period (RAP) for 403(b) plans is March 31, 2020. The American Retirement Association had recommended in a Feb. 23, 2016 letter to the IRS that it provide an initial restatement period of three years for employers adopting pre-...
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On Sept. 27, 2016, the American Retirement Association Government Affairs Committee (ARA GAC) filed a comment letter in response to a proposed regulation promulgated by the Department of Labor that would expand the non-ERISA safe harbor to payroll deduction savings arrangements mandated by the laws...
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The American Retirement Association (ARA) on June 7 submitted a comment letter to the IRS on the retirement benefits-related items on its priority guidance plan for 2016-2017. The IRS in Notice 2016-26 had invited such comments.The ARA says that it believes that “each and every” one of those items...
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The Labor Department’s fiduciary regulation will have a huge impact on advisers that work with IRAs. To better understand the impact of these new rules, the National Tax-Deferred Savings Association (NTSA) is conducting a study about how financial advisers work with IRA investors, the knowledge and...
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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 Financial Industry Regulatory Authority (FINRA) has issued an interpretive letter agreeing to exclude the NTSA’s Model Disclosure Form from various filing requirements under FINRA Rule 2210. This marks a significant milestone for the NTSA’s effort to ensure that public school employees receive...
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The 2016 election is still months away, but talk of tax reform — and its potential to undermine incentives for retirement savings — is “back” on Capitol Hill.The Chairman of the House Ways & Means Committee, Kevin Brady (R-Texas) intends to lay the groundwork for tax reform this year, so that a...
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On Feb. 23, 2016, the American Retirement Association (ARA) filed a comment letter with the IRS suggesting enhancements that can be made to the IRS pre-approved plan program for plans subject to Internal Revenue Code Sections 401(a) or 403(b). The letter also requests a meeting to discuss the ARA...
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The NTSA has made two recommendations to the IRS concerning IRS Announcement 2015-19 and how the announcement affects 403(b) plans. In an Oct. 1 comment letter, the NTSA says that the IRS should create an accommodation to address the most common differences that can affect the utilization of...
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As the comment period window closes on the Labor Department’s fiduciary proposal, the American Retirement Association has filed a supplemental comment letter with the DOL — and another House subcommittee schedules a hearing on the subject.Specifically, the ARA sought to “amplify and clarify” two...
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During the first round of breakout sessions at the 2015 NTSA 403(b) Summit in Nashville, an expert panel led a lively and engaging discussion about the Department of Labor’s re-proposed fiduciary rule, and the potential impact on common business practices. In MarketBeat, Amy L. Simonson summarizes...
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Nearly three months ago, the Department of Labor (DOL) proposed new standards defining what fiduciary due diligence means. In a session at the NTSA 403(b) Summit in Nashville, NTSA immediate past president Susan Diehl and others explained how the rule affects IRAs and other investment options,...
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The ERISA Advisory Council has now made its final recommendations of 2014, and got an update on regulatory proposals in return. On Nov. 4, the DOL’s ERISA Advisory Council followed up on its August meetings with the presentation of this year’s final recommendations to secretary of labor Tom Perez...
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NTSA, ASPPA and NAPA submitted a joint letter Nov. 3 to the Connecticut Retirement Security Board (CRSB) in response to the board’s request for public comment in order to help the CSRB develop and implement a state-run plan for employees of private employers. In the letter, the three sister...
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Are you passionate about 403(b)s? We are, and if you were among the attendees at the 2014 403(b) Summit in Washington, D.C., you no doubt recall the video that outlined how and why. We’ve posted that video so attendees and those who couldn’t be there can see it. The video also discusses NTSA’...
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