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Taking on a new client with an existing plan is a special opportunity for a provider to make a strong first impression, and to reaffirm why you were selected to begin with. Using case studies and easy-to-remember best practices, consultant Sarah Simoneaux, CPC, told attendees at the 2014 ASPPA...
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Remember the kids' game, Hot Potato? Seems like there's a grown-up version too, for plan administrators who perform a fiduciary role. That was what Nicholas J. White, Special Counsel at Trucker Huss, addressed in an Oct. 28 session at ASPPA's 2014 Annual Conference at National Harbor, Md. Named...
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Advisors seeking to capture IRA rollovers face a "four-part harmonization" of regulatory and other government entities -- that is, SEC, DOL, FINRA and GAO -- in the words of ERISA attorney Fred Reish. Speaking at a workshop session at the 2014 ASPPA Annual Conference Oct. 28, the Drinker Biddle...
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Turning 40 is one of those storied moments — and not just for individuals. ERISA turned 40 this year, affording an opportunity to take stock of its impact and whether it is functioning as intended. An Oct. 28 panel discussion at the 2014 ASPPA Annual Conference, held at National Harbor, Md....
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The world has never been smaller, but the opportunities to say or write something that could undermine an entire career have never been greater. Conference keynoter Lauren Bloom, an attorney in Washington, D.C., told attendees at the 2014 ASPPA Annual Conference Oct. 27 how ASPPA’s Code of Conduct...
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Never a dull moment for plan administrators and actuaries. And that’s even more true when you throw federal regulations into the mix. A panel discussion at ASPPA’s 2014 Annual Conference on Monday, Oct. 27 provided an update on regulatory changes affecting DB plans .Pension Benefit Guaranty...
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The finer points of administering a cash balance plan and working with equivalent benefit accrual rates were the topics of discussion at an Oct. 27 session of the 2014 ASPPA Annual Conference. Lawrence Deutsch, president of Larry Deutsch Enterprises, and Michael B. Preston of Preston Actuarial...
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Despite lacking any regulatory authority to do so, the Department of Labor has made an issue of fiduciary training over the last few years. The reason, according to Bryan Cave's Sheldon H. Smith: The DOL views fiduciary training as a critical element of good governance, and looks for evidence of a...
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It's been a year since DOL's Phyllis Borzi, addressing the 2013 ASPPA Annual Conference, provided details about how the department planned to proceed with its regulatory initiative reshaping the definition of a plan fiduciary. A year later, in the same room at the 2014 conference, ASPPA’s...
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If you are a 3(16) plan administrator, one of the keys to success — if not survival — is to know what your responsibilities are. And where can that be found? “Where it really lies is the plan document,” says Ilene Ferenczy of the Ferenczy Benefits Law Center. She made her remarks at an Oct. 26...
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The American Society of Pension Professionals & Actuaries inaugurated Kyla Keck, CPC, QPA, QKA, ERPA, as the new President of the organization during the Oct. 26 opening session of the 2014 ASPPA Annual Conference at the Gaylord Hotel, in National Harbor, MD.Keck, a Principal of SageView...
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The American Society of Pension Professionals & Actuaries announced three annual industry awards during the Oct. 26 opening session of the 2014 ASPPA Annual Conference at the Gaylord Hotel, in National Harbor, Md.Harry T. Eidson Founders Award The 2014 Harry T. Eidson Founders Award was...
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Any employer, plan administrator, third party administrator, plan sponsor etc. knows how many moving parts there are to meeting reporting deadlines and complying with IRS rules and regulations. Apparently the IRS does as well, and it has updated “Retirement Plan Reporting and Disclosure...
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There were some mixed messages in a new survey about retirement savings.The headlines were (as usual) all about retirement non-saving: the 34% reportedly not currently contributing anything to a 401(k), an IRA or other retirement savings vehicle, according to the fifth annual Wells Fargo Middle-...
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The Pension Benefit Guaranty Corporation (PBGC) on Oct. 24 announced the premium rates for 2015. Some rates increased sharply, while other increases were far more modest.Flat-rate PremiumsThe per-participant flat premium rate for plan years beginning in 2015 is $57 for single-employer plans (up...
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At some level, we all know that the types of jobs that define entire regions of the sprawling U.S. economy are as a diverse as the geographies that shape borders and the people who live within them. The actuarial profession has long been ranked as one of the best jobs, and has even managed to gain...
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A new survey suggests that Millennials are “getting it” when it comes to retirement savings — or maybe as newer hires, they’re just “automatic” beneficiaries. Regardless, during the first half of 2014, the number of first-time contributors among Millennials jumped 55% during the first half of the...
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Plans interested in providing lifetime income alternatives via target-date funds that include deferred annuities got some much-needed clarity from the IRS on Oct. 24.In Notice 2014-66, the IRS provides a special rule that enables qualified defined contribution plans to provide lifetime income by...
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With more and more defined benefit plan sponsors exploring — and undertaking — pension de-risking, a pair of leading U.S. Senators have asked regulators to establish some guidelines to ensure that those covered by those programs are protected.Senate Finance Committee Chairman Ron Wyden (D-Ore.) and...
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Growing and managing a business presents a multitude of challenges, from employee issues to budgeting and new service offerings. Running a firm is a complex business.Wouldn’t it be helpful to meet with your peers from across the country and find out how they manage these challenges? Would you like...
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