Client Services
Much-anticipated guidance on the DOL fiduciary rule will be coming soon, according to Phyllis Borzi, head of the DOL’s Employee Benefits Security Administration (EBSA). She made the remarks Oct. 25 during the Government Update session at the ASPPA Annual Conference held at National Harbor, Md....
READ MORE
p>The IRS on Oct. 21 said in Announcement 2016-39 that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Matthew and members of their families. The American Retirement Association had requested such relief in an Oct. 10...
READ MORE
The 2017 403(b) Masters Summit, to be held Jan. 25-27, 2017 in Carefree, Ariz., features an agenda planned by fellow NTSA members to help make the most of the new frontier and the opportunities it offers. The agenda includes four unique, progressive modules:
Fiduciary NOW! Why Not?
...
READ MORE
On Oct. 11, 2016, the American Retirement Association requested relief from the IRS for taxpayers, plan sponsors and service providers adversely affected by Hurricane Matthew.The ARA notes that Matthew caused significant damage throughout the Southeast, resulting in “significant hardships for...
READ MORE
Think you’ll find rollovers more complicated under the Labor Department’s fiduciary regulation? You aren’t alone. In a recent blog post, ERISA attorney Fred Reish notes that banks, as well as advisors, may find themselves confronted with a fresh set of challenges. Reish notes that it appears to...
READ MORE
If you have a client who retired after normal retirement age but before he had five years of service, can he use the “last 3-year catch up” in his 457(b) plan? In Tech Talk, Ellie Lowder tells us.
READ MORE
A new report claims that by 2020, the DOL’s new fiduciary rule will result in a $2 trillion asset shift and roughly $20 billion in lost revenue. But there are winners as well as losers.According to the A.T.Kearney DOL Fiduciary Rule Study, industry players will be affected at all levels. The report...
READ MORE
In class action suits, plaintiffs’ attorneys generally receive a fee whose amount is contingent on the amount of the verdict or settlement — frequently about a third.What about the excessive fee suits?Most of the excessive fee suits brought to date haven’t made it to trial, but a number have...
READ MORE
In an email to participating RIAs in North Carolina’s Total Retirement Plan 403(b) Program on Sept. 16, the State Treasurer’s office announced that it is terminating its contract with TIAA for record-keeping services. It will instead negotiate with Prudential, which means that Prudential will soon...
READ MORE
It can be really hard to make a prediction that comes true. Just ask pollsters and meteorologists. And that principle holds true regarding returns on retirement accounts and investments.Christopher Carosa in FiduciaryNews examines which is better when making retirement return projections: looking...
READ MORE
Ten years ago, the Pension Protection Act of 2006 (PPA) cleared a barrier for some defined contribution retirement plans to offer an automatic enrollment feature. But the PPA left intact state law barriers if a DC plan was not subject to ERISA. In MarketBeat, Linda Segal Blinn discusses how state...
READ MORE
Would a distribution of 401(k) assets that had been rolled into a 457(b) be exempt from the 10% premature distribution penalty as long as the participant was at least age 55 in the year he separated from service with his 457 plan employer? In Tech Talk, Ellie Lowder tells us.
READ MORE
Fiduciary duties, always a critical concern, have stood in sharper relief as the Department of Labor prepared and issued the new fiduciary rule. So it could be especially helpful to take a fresh look at best practices through which a plan fiduciary can not only meet the letter of the law, but also...
READ MORE
Ben Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” But what if there was a way to avoid paying taxes on amounts in a retirement plan? In MarketBeat, Lynn Knight writes that there is a way to receive a tax-free distribution of amounts from a retirement...
READ MORE
The IRS on Aug. 30 announced a significant relaxation in the restrictions that normally apply to plan loans and hardship distributions to Louisiana flood victims and members of their families.In Announcement 2016-30, the IRS says that the following individuals may be eligible to take advantage of...
READ MORE
Is it possible to increase financial literacy, employee participation in retirement plans and employer action to boost options available to employees all at once? A network in Arizona has found a way to do just that. The Arizona 403(b) Professionals, a group of which NTSA President-Elect Adam...
READ MORE
The IRS has provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day rollover window.In Revenue Procedure 2016-47, the IRS explains how eligible taxpayers, “encountering a variety of mitigating circumstances,” can qualify...
READ MORE
While much of the discussion around the implementation of the fiduciary regulation has centered on investment recommendations, what about an advisor recommending his or her own services? A recent blog post by noted ERISA attorney Fred Reish notes that, effective April 10, 2017, the recommendation...
READ MORE
Another lawsuit has been filed against a multibillion-dollar university retirement plan — but it’s not their 403(b) plan — and the law firm of Schlichter, Bogard & Denton isn’t involved. This one, filed by Sanford Heisler, LLP, is a class action filed in the U.S. District Court for the...
READ MORE
One could hardly read the headlines this past week without experiencing a certain sense of déjà vu. After all, it’s been not quite 10 years since the then relatively obscure St. Louis-based law firm of Schlichter, Bogard & Denton launched about a dozen of what have come to be referred to as “...
READ MORE
Pages
Most Popular
