Practice Management
There were four days of hearings on the Department of Labor’s proposed fiduciary rule and I kept waiting… and watching… and waiting. But it never came up. And that surprised me.You see, I was fully expecting someone to ask these two questions: “What about individuals who actually want to be...
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An IRS audit is not exactly a sought-after experience. But it is possible to take a look at a plan and see if it is at risk of one, and there are best practices one can take after an audit. The recent 2015 NTSA 403(b) Summit offered insights on both, as Diane Capone discusses in MarketBeat.
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Only 22% of individuals who owned a traditional or Roth IRA took a withdrawal in 2013, a percentage largely driven by activity among individuals ages 70½ or older.According to a report by the non-partisan Employee Benefit Research Institute (EBRI), 65% of the individuals who took a withdrawal were...
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With many American workers saying they could have saved more, and sooner, a large majority of employees support access to plans with automatic enrollment, according to new studies.American Century Investments’ third annual “Defined Contribution Plan Participation Study” interviewed 2,031 DC plan...
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Require general partners to do a better job of disclosing private equity fees. That’s the message that treasurers from states in every region of the United States, as well as two of its largest cities, sent to Securities and Exchange Commission Chair Mary Jo White in a recent letter.The treasurers...
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Renowned French author André Gide once famously remarked, “Everything that needs to be said has already been said. But since no one was listening, everything must be said again.” So it felt at times during Day four of the Department of Labor’s (DOL) public hearing on its fiduciary rule.To be fair,...
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The IRS has issued IRA required minimum distribution (RMD) worksheets for figuring this year’s required withdrawals from traditional IRAs. One of the worksheets concerns RMDs from traditional IRAs, and the other concerns RMDs if a spouse who is more than 10 years younger than the IRA holder is the...
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The DOL recently published its first serious guidance on supporting lifetime income with the publication of Field Assistance Bulletin 2015-2. In MarketBeat, Robert Toth discusses the guidance and why it is very necessary for the success of the qualified longevity annuity contracts as well as...
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A school district plans to make employees choose between receiving employer contributions to their 403(b)s or a health insurance benefit. In Tech Talk, Ellie Lowder tells us if that school district can do that.
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A client wants to transfer money from his 403(b) account to buy years of service in his state retirement system. In Tech Talk, Ellie Lowder tells whether he can.
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Major trade legislation that was signed into law on June 29, 2015 should be of interest to public school districts and the school resources officers they hire. In MarketBeat, Ellie Lowder discusses a substantial change that measure makes to the distribution rules applicable to those officers.
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Do not-for-profit entities that have 403(b) plans care more about outcomes than for-profit firms with 401(k) plans?Though the recent Plan Sponsor Council of America (PSCA) 2015 403(b) Plan Survey does not answer that question directly, there are indications that 403(b) plans may, in fact, be more...
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There has been no shortage of bad news for public pension systems from coast to coast. But the U.S. Census Bureau has just released some good news — the assets of state and local public pension systems grew in 2014.The report, “2014 Annual Survey of Public Pensions: State and Locally Administered...
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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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You have a participant who consistently makes extra payments on a plan loan he took out. If the original loan was calculated with principal and interest amortized over the 5-year payback period, should you recalculate the remaining term of the loan? In Tech Talk, Ellie Lowder tells us.
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The Pushmi-Pullyu, a two-headed animal character from author Hugh Lofting’s Doctor Dolittle series of children’s books, does not actually exist. But the back-and-forth over the Department of Labor’s proposed fiduciary rule is enough to make one wonder if maybe they really do after all.July 21...
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The IRS has said that excess deferrals generally are caused by “misuse” of the 15+ years of service increased limit outlined in Internal Revenue Code Section 402(g)(7). In MarketBeat, Ellie Lowder provides some clarity on how it works.
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The local public school district has been remitting employee elective deferrals to the 403(b) plan every three months or so. In Tech Talk, Ellie Lowder discusses the timing the federal government requires for these deferrals.
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Although traditional IRAs can be opened with either rollovers or contributions, rollovers tend to be the most common source for new traditional IRAs — and account for the vast majority of those IRA openings, according to a new report.The Investment Company Institute (ICI), in The IRA Investor...
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A new study reaffirms a growing trend that most working Americans of all ages expect to work past the common retirement age of 65, and nearly half fear that they won’t be able to retire comfortably.Even so, large numbers of Americans aren’t talking to advisors about their financial future, the...
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