Managing Your Practice
The Department of Labor’s (DOL) fiduciary rule, as well as other regulations and laws that affect and govern retirement plans, were part of the discussion at the U.S. Chamber of Commerce meeting on Feb. 3.“The Shifting Paradigm of Retirement,” a morning program in which speakers from the federal...
READ MORE
There is now an “even greater opportunity” for tax reform, Senate Finance Committee Chairman Orrin Hatch (R-UT) told the U.S. Chamber of Commerce at a Feb. 1 meeting at its Washington, DC headquarters. Hatch said he hopes there will be a tax reform proposal “in the near future” but spoke in broad...
READ MORE
A new report cautions that, while well-intentioned, states considering mandating automatic enrollment payroll deduction IRAs are likely to hurt the very workers they think they are helping. The report, published by the U.S. Chamber of Commerce, notes that under such programs: workers are...
READ MORE
Senate Finance Committee Chairman Orrin Hatch (R-Utah) will deliver remarks at the U.S. Chamber of Commerce headquarters in Washington, D.C. on Feb. 1, 2017 to discuss the Finance Committee’s agenda for the 115th Congress, including ongoing efforts to remake the tax code with changes to key...
READ MORE
The Department of Labor released a much-anticipated second set of fiduciary regulation FAQs on Friday the 13th. In MarketBeat, Nevin Adams writes that they focus particularly on investment advice concerning ERISA-covered plans, IRAs and other plans covered by Code Section 4975(e)(1).
READ MORE
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...
READ MORE
An heir transfers her deceased uncle’s 403(b) account into her inherited IRA, and would like to roll her own 403(b) into the IRA. In Tech Talk, Ellie Lowder tells us whether she is permitted to do that.
READ MORE
The Department of Labor’s Employee Benefits Security Administration has increased the civil penalties for failure to file the Form 5500.The maximum per-day penalty under ERISA Section 502(c)(2) for 2017 will be $2,097; that is $34 higher than the maximum rate for 2016 of $2,063 per day.The Labor...
READ MORE
People often talk about the significance of the “free” money associated with the company match in retirement savings — but there’s another source of “free” money that is often overlooked.I’m talking about the so-called Saver’s Credit, more precisely the Retirement Savings Contributions Credit. It’s...
READ MORE
The IRS has updated the information it makes available concerning the 403(b) universal availability requirement. The update centers on a refreshed example illustrating its application to a current scenario.A 403(b) plan must satisfy the universal availability requirement regarding elective...
READ MORE
The National Tax-deferred Savings Association has announced the 2017 finalists for its prestigious NTSA Elite Advisor Award.
The 2017 NTSA Elite Advisor Award will be presented at a general session during the 2017 NTSA 403(b) Masters Summit in Carefree, Ariz. Jan. 25-27, 2017. The 2017 NTSA Elite...
READ MORE
The Securities and Exchange Commission (SEC) on Jan. 17 announced that 10 firms have agreed to pay penalties to settle charges that they violated the SEC’s pay-to-play rule by receiving compensation from public pension funds within two years after the firms’ associates made campaign contributions....
READ MORE
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-...
READ MORE
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-...
READ MORE
The label “Level Fee Fiduciary” has been used for many years with one meaning, but the Best Interest Contract (BIC) Exemption has used it for a different purpose and, depending on your reading, a different definition, writes Fred Reish.The Traditional DefinitionIn a recent blog post, Reish notes...
READ MORE
A new survey released at the start of 2017 finds evidence that interest in financial wellness is growing, and that plan sponsors are looking to beef up the tools to support that focus. In MarketBeat, the NTSA staff discusses some of the highlights of the report.
READ MORE
Retirement investments and advice are among the examination priorities of the Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) for 2017, the SEC said on Jan. 12. The OCIE’s priorities reflect a continuing focus on protecting retail investors, says...
READ MORE
Retirement investments and advice are among the examination priorities of the Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) for 2017, the SEC said on Jan. 12. The OCIE’s priorities reflect a continuing focus on protecting retail investors, says...
READ MORE
With the presidential election victory of Donald Trump and the success of Republicans in holding majorities in both the House of Representatives and the Senate, the immediate future of the Department of Labor’s fiduciary rule has been cast into some doubt. A recent analysis explores what its...
READ MORE
Awareness of fiduciary status and the Department of Labor’s (DOL) fiduciary rule is more widespread among 403(b) plan sponsors than preparations for its effective date, according to a recent study by the Plan Sponsor Council of America (PSCA). Just over three-quarters of plan sponsors consider...
READ MORE
Pages
Most Popular
