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The IRS in a May 23 edition of Employee Plan News provides a comprehensive discussion of the impact of missing a deadline for restating a pre-approved 401(a) or 403(b) plan and how such a situation can be handled.  To maintain a plan’s status as a pre-approved plan and retain uninterrupted... READ MORE
The CalSavers Retirement Savings Board on May 20, 2022 issued request for proposals (RFP) for program auditing services. The board is responsible for overseeing CalSavers, the state-run retirement plan that provides coverage for employees whose employers do not.  The Board wants to select an... READ MORE
The graduates of 2022—well, they’ve been through a lot, arguably more than most—but with any luck at all, the days and years ahead will be brighter.  Life has many lessons to teach us, some more painful than others—and some we’d just as soon be spared. Regardless, if you have a graduate—or if you... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) has its hands full helping provide retirement security for plan participants. But what’s behind their approaches and actions? A recent meeting with a group of industry experts—including ASEA’s Kelsey Mayo and Virginia Wentz—provides a window into the... READ MORE
Editor’s note: This is the second in a two-part series. The first installment appeared here. In my last column, I argued that when ERISA diversification requirements are met, the only remaining prudence issue is price and that, regarding an asset (e.g., stock in a company) that is traded in a... READ MORE
The Department of Labor (DOL), Treasury and Pension Benefit Guaranty Corporation (PBGC) on May 20 released the final revisions to the forms and instructions for the Form 5500 series to be used for reporting concerning plan years beginning on or after Jan. 1, 2022. They also indicated, however, that... READ MORE
The law firm of Schlichter Bogard & Denton has a new target in an excessive fee suit—the plan’s investment advisor. More specifically, plaintiffs Michelle Mills, Coy Sarell, Chad Westover, Brent Aleshire, Barbara Kershner, Paula Schaub, and Jennifer Silva—who just two months ago filed suit[1]... READ MORE
How much injury do you need to suffer in order to bring an excessive fee suit? That issue arose in one of a half-dozen cases that had been frozen in place last fall pending the U.S. Supreme Court’s decision in Hughes v. Northwestern University, decided this past January. The case at hand was... READ MORE
“Saving is the No. 1 priority,” says Robert Kaplan, the American Retirement Association’s Director of Technical Education. Kaplan made his comments during a recent ASPPA webcast that highlighted tax credits and deductions relevant to retirement saving, as well as proposals intended to increase it... READ MORE
The American Retirement Association is strongly opposed to legislation moving through Congress that would prohibit arbitration of claims and discretionary clauses in all ERISA covered retirement plans.  “On behalf of the over 30,000 members of the American Retirement Association (ARA), we hereby... READ MORE

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