Managing Your Practice
A new study examines what small business owners in Connecticut think about the state’s new retirement plan and how well they grasp it. The Nutmeg State’s system for private-sector employees has been in place since May 27, 2016.With other states putting similar plans in place and still more...
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As concerns about cybersecurity proliferate, a state securities regulator is considering changes that would impose new requirements on financial advisers and broker-dealers.The Colorado Division of Securities is considering a proposal that would require broker-dealers to establish and maintain...
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Unveiling President Trump’s tax reform proposal April 26, Gary Cohn, Trump’s chief economic advisor and director of the National Economic Council, said that “retirement savings will be protected.”While that was immediately reassuring to those concerned that this version of tax reform would...
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The Form 5500 is near and dear to the many ASPPA members who prepare these forms each year. A recent concern in this area has been the new IRS “compliance” or “5500-SUP” questions that were originally to be required for the 2015 form but have been delayed ever since. Those delays have come...
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Plan sponsors believe that targeted education works — but a new survey finds that they are not acting on those convictions.According to the first Not-for-Profit Plan Sponsor Insights Survey by TIAA: 68% of non-for-profit plan sponsors believe financial education designed specifically for different...
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Among other changes, the American Retirement Association has requested that the Labor Department change the Best Interest Contract (BIC) Exemption to eliminate reliance on the plaintiffs’ bar as an enforcement mechanism. Perhaps the most controversial aspect of the current fiduciary regulation is...
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The DOL delayed the fiduciary rule 60 days from April 10, 2017 to June 9, 2017. In MarketBeat, Kimberly Flett writes that although this postponement is in effect, plan sponsors, retirement plan investors and advisers should be aware of the important components of this rule and prepare for the...
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The DOL delayed the fiduciary rule 60 days from April 10, 2017 to June 9, 2017. In MarketBeat, Kimberly Flett writes that although this postponement is in effect, plan sponsors, retirement plan investors and advisers should be aware of the important components of this rule and prepare for the...
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The DOL delayed the fiduciary rule 60 days from April 10, 2017 to June 9, 2017. In MarketBeat, Kimberly Flett writes that although this postponement is in effect, plan sponsors, retirement plan investors and advisers should be aware of the important components of this rule and prepare for the...
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Suppose a client moves funds from an optional retirement program to his 457 plan and segregates his rollover money in the 457 plan. In Tech Talk, Susan Diehl tells us if he will be subject to a 10% penalty if he terminates employment at age 52 and pulls this segregated money out, as if it were a...
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Bipartisan, bicameral legislation that would require 401(k) plan sponsors to inform participating workers of the projected monthly income they could expect at retirement has been reintroduced on Capitol Hill.The legislation, The Lifetime Income Disclosure Act (S.868), was introduced in the Senate...
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“I would encourage caution among policymakers when considering dramatic changes to retirement policy for tax policy purposes,” former Sen. Kent Conrad (D-ND) told the Senate Committee on Banking, Housing, and Urban Affairs’ Subcommittee on Economic Policy on April 5.“As tax reform discussions...
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“Life is complicated and has many moving pieces. One can’t look at retirement in a vacuum,” American Academy of Actuaries Senior Pension Fellow Ted Goldman says of the effort to address and foster employees’ financial wellness.Goldman spoke at an April 5 session of the Enrolled Actuaries meeting in...
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What happens if a retired pastor dies before his required minimum distribution is taken for that year? In Tech Talk, Sue Diehl tells us, and also lets us know if the RMD will remain eligible to be deemed a housing allowance since it will be withdrawn post-death?
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Many factors make preparing financially for retirement planning complicated. A recent blog post posits that there is a hierarchy to competing financial concerns, and understanding that hierarchy can help one to better — and more effectively — prepare for and finance retirement.In “Behavioral Biases...
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Plan fiduciaries largely lost their attempt to dismiss charges filed by plan participants in an excessive fee suit brought by the St. Louis-based law firm of Schlichter, Bogard & Denton.The lawsuit, filed in late 2015 in the Southern District of Indiana, alleged that fiduciaries of the $5.1...
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With health care reform off the table (at least for the moment), Congress will now turn to… tax reform.Over the weekend, House Ways & Means Committee Chairman Kevin Brady (R-Texas) said he aims to move a tax reform bill through his committee this spring. According to Reuters, Brady said he...
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A new tax reform proposal has surfaced that would impose a 15% tax on retirement accounts. More specifically, the proposal includes a new 15% tax on interest paid to tax-exempt institutions and retirement plans. The corporate tax reform plan, by Alan Viard of the American Enterprise Institute and...
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Your client has already filed his 2016 income tax return and has now decided to make a deductible IRA contribution for 2016. In Tech Talk, Ellie Lowder tells us what that client needs to do, and when.
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Tax reform is a priority of the Trump Administration and many members of Congress The final form is not certain, but pre-tax deferrals to a 401(k), 403(b), or 457(b) plan could be in play. In MarketBeat, David Blask argues that now is the time to reach out to your clients in light of this debate.
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