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Editor’s note: This is the second of a two-part series in which experts share their insights on some of their expectations for the coming year on issues relevant to retirement plans. Part 1 can be found here.The champagne flutes may be dry, but plenty of bubbling exuberance remains. And regarding... READ MORE
Advance copies of the 2016 Form 5500 and Form 5500-SF are now available. The IRS, Department of Labor (DOL) and Pension Benefit Guaranty Corporation (PBGC) released the advance copies on Nov. 1.It is important to note that the advance copies are for information purposes only — they are not to be... 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
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
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 Southern... READ MORE
The “hits” just keep on coming with the latest wave of excessive fee litigation, with three more university retirement plans targeted.A decade ago, the law firm of Schlichter, Bogard & Denton launched a dozen excessive fee lawsuits against a multi-billion dollar 401(k) — in the past week they’... READ MORE
Plan sponsors are often reluctant to take big steps in making plan changes — but a new participant survey finds that workers would welcome more aggressive defaults.According to a national survey conducted by American Century Investments:Eight out of 10 employees want at least a “slight nudge” from... READ MORE
The IRS recently issued proposed 457 regulations, which generally apply to compensation deferred under a 457(b) plan for calendar years beginning after the date that the final regulations are published. In MarketBeat, Linda Segal Blinn tells us what this means for sponsors of a 457(b) plan. READ MORE
Employer-provided retirement benefits in general are holding steady, according to the Society of Human Resource Management (SHRM). In “2016 Employee Benefits: Looking Back at 20 Years of Employee Benefits Offerings in the U.S.,” SHRM reports that some aspects of employer-provided retirement... READ MORE
Financial reporting standards the Government Accounting Standard Board (GASB) set in place in Statement 74 last year are effective for fiscal years beginning after June 15, 2016. This affects a variety of retirement plans that provide postemployment benefits other than pension benefits (OPEB).... READ MORE
“Data security is a team sport.” That’s how FIS Chief Risk Officer Greg Montana summed up cybersecurity efforts at a June 20 session of the SPARK National Conference held in Washington, DC. The panel included not only experts from the private sector, but also Deputy Assistant Secretary for... READ MORE
Retirement expectations vary by age and income — but not as much as you might think.Lower-income workers plan to retire a bit later, on average, than those earning $75,000 or more annually. Specifically, those making less than $30,000 annually anticipate retiring at age 70, while those earning... READ MORE
Millennials have a much different relationship with their Boomer parents than Boomers did with theirs — and a new report says that could result in a different kind of retirement.The majority of Millennials view their parents as peers, mentors and friends, while more Boomers saw their parents as... READ MORE
Millennials may be redefining retirement, and not in the way you might think.In a new survey, more than 4 out of 10 (41%) Millennials said they expect to retire when they hit a certain financial milestone or savings goal, rather than attaining a specific age (cited by 35% of Boomers and 29% of Gen... READ MORE
Grasping the importance of preparing for retirement does not necessarily translate to action to bring it about, says a recent study on Americans’ financial beliefs and behavior.There is good news, says the survey commissioned by Fifth Third Bank on those beliefs and whether Americans are acting on... READ MORE
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. READ MORE
A 501(c)(3) employer has asked you whether the summary plan description (SPD) must be filed with the Department of Labor. In Tech Talk, Ellie Lowder tells us what the rule is. READ MORE
p>No fooling — some retirees and IRA holders must take required minimum distributions (RMDs) by April 1. The IRS in IR-2016-48 on March 28 issued a reminder that IRA holders who turned age 70½ in 2015 must take RMDs; similarly, retirees who reached that age last year must take RMDs from... READ MORE
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... READ MORE
The IRS on Jan. 29 issued guidance on mid-year changes to a safe harbor plan under Internal Revenue Code Sections 401(k) and 401(m). It provides that a mid-year change either to a safe harbor plan or to a plan's safe harbor notice does not violate the safe harbor rules just because it is a mid-year... READ MORE