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News Archive
Plans with calendar year plan years — and that’s most of them — must file their 2014 Forms 5500 by this July 31. So the reminder the IRS included in its latest issue of Employee Plans News concerning the changes to the Form 5500 and its schedules for 2014 reporting is particularly timely.The...
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The Internal Revenue Service has provided a new, permanent program for late filing Form 5500-EZ.The program, outlined in Revenue Procedure 2015-32, replaces last year’s one-year pilot program – which ended Tuesday, June 2, 2015.The permanent program generally follows the requirements of the pilot...
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The IRS has updated guidance on master and prototype, and volume submitter, plan applications for opinion and advisory letters.The IRS has highlighted the following changes as important in Revenue Procedure 2015-36: extending the application deadline for pre-approved defined benefit plans from June...
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Bipartisan legislation introduced in the U.S. House of Representatives June 4 would allow pension plan participants to be automatically opted in to electronic delivery of documents. And a recent study suggests that the sponsors of the bill have good timing. Rep. Jared Polis (D-Colo.) introduced...
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In 2005, seven companies bought financial software provider SunGard. Fast forward 10 years: on June 3, SunGard filed a Form S-1 with the Securities and Exchange Commission to go public.The filing says the sale will begin “as soon as practicable” after the filing is declared effective. Yet to be...
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Available through August 25, 2016Speaker: David Schultz, JD, APM, SunGard Relius Click here to view the webcast outline!This webcast will provide an overview of the rules related to unrelated business taxable income (UBTI) and the types of investments held by...
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Available through August 19, 2016Speaker: Robert M. Kaplan, CFP, CPC, QPA, APA, VP, National Training Consultant, Voya Financial Click here to view the webcast outline! The compensation definition is critical when testing or designing a qualified retirement...
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Despite growing concerns about leakage from retirement plans, a new survey suggests that Americans aren’t very familiar with various distribution options.The survey, commissioned by Pentegra Retirement Services and conducted online by Harris Poll this month among more than 1,000 employed U.S....
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The Pension Benefit Guaranty Corporation (PBGC) paid $5.4 billion in benefits to 842,000 retirees nationwide in 2014, it has reported. It also has broken down that data by state, but it would be a mistake to assume that just because a state has a high population, it will therefore have one of the...
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A majority of households age 55 and older do not have retirement savings. That sobering news comes from a recently released study by the Government Accountability Office (GAO). “Retirement Security: Most Households Approaching Retirement Have Low Savings” says that 52% of such households are in...
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Available through August 4, 2016Speaker: Derrin Watson, Esq, Attorney, Sunguard Relius Click here to view the webcast outline!Although plan distributions seem commonplace, they can also provide for many compliance challenges. Whether it is a severance...
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For those keeping score at home, a total of 36 individuals and organizations submitted comments on the Department of Labor’s April 14 fiduciary proposal during the first month of the comment period.The DOL’s Employee Benefits Security Administration has created a “public comments” page on its...
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Will the third time be the charm? House Education and the Workforce Committee Chairman John Kline (R-Minn.) and Health, Employment, Labor and Pensions Subcommittee Chairman Phil Roe (R-Tenn.) in a June 2 letter to Labor Secretary Thomas Perez have again repeated a request for additional information...
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Wednesday, July 29, 20152 p.m. - 3:40 p.m. ETSpeaker: Ellie Lowder, TGPC, Consultant; Robert J. Toth, Jr., Law Office of Robert J. Toth, Jr. LLC Check back soon for the webcast outline! Bob and Ellie will cover the rules (and the opportunities) for...
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The Pension Benefit Guaranty Corporation (PBGC) has released its annual update on pension data. The report provides information reported by pension plans and the PBGC and compares it to data from earlier years.The report includes statistics for PBGC’s single-employer and multiemployer programs and...
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Summer has begun, and for many parts of the United States, so has hurricane season. Residents and proprietors in areas at risk of a landfall — as well as inland areas that also can be affected — often hear exhortations to be prepared, just in case. The IRS has issued a reminder about the importance...
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ASPPA is always providing information and insights that will be valuable to its members! Following is a summary of upcoming webcasts and events. Live WebcastsNew Mortality Tables — Their Use and Application Tuesday, June 23, 20152:00 p.m. - 3:00 p.m. ET Speakers: Raymond D. Berry, MSPA, ASA, MAAA,...
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The cost of investment management is the top expense for defined benefit plan sponsors, a recent study found.Penbridge Associates, an advisory firm that focuses on the U.S. DB risk transfer market, conducted the study. It looked at the costs associated with maintaining a U.S. corporate DB plan, and...
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The Bipartisan Policy Center convened what at least one participant termed a “policy wonk throwdown” in the nation’s capital May 27. The subject? The Department of Labor’s fiduciary proposal.The actual title of the event was “Champions, Critics and Consequences of a New Fiduciary Standard,” and it...
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The recent Department of Labor (DOL) study finding deficiencies in audits of employee benefit plans does not translate to a statement about how viable those plans are, says the American Institute of CPAs (AICPA). In a May 28 statement, AICPA said that “none of the quality issues identified by the...
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