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In our August Third Thursday, we discuss the Safer Act, which became a provision in SECURE 2.0 allowing penalty-free withdrawal from retirement plans for victims of domestic abuse. Given the breadth and scope of domestic violence, this educational session offers background information on the... READ MORE
The Department of Labor’s Employee Benefits Security Administration is seeking nominations to fill five vacancies to serve three-year terms on the ERISA Advisory Council, known officially as the Advisory Council on Employee Welfare and Pension Benefit Plans. Nominations are being accepted for one... READ MORE
What's in the episode?: How do you expand retirement plan coverage for workers at scale (close the coverage gap), leverage the behavioral benefits of payroll deduction, and not place an undue burden on employers? One solution is increasingly effective—state-facilitated plans. Retirement policy... READ MORE
The Department of Labor (DOL) sent a new version of a proposed fiduciary rule to the Office of Management and Budget (OMB) late Sept. 8 for review.   Known officially as “Conflict of Interest in Investment Advice,” it would redefine fiduciary investment advice under ERISA. According to a post on... READ MORE
Have you—or a fellow member—made a significant contribution to retirement plan education, especially within the last 12 months? Sept. 11 is the LAST DAY to nominate them to win the prestigious ASPPA Educator’s Award. Self-nominations are also accepted. Complete the application form here to submit... READ MORE
The IRS has confirmed that those that filed Form 8955-SSA on time do not need to respond to penalty notices dated before Sept. 1, 2023. The IRS made the confirmation in the Sept. 1 issue of Employee Plans News.  The IRS had contacted the American Retirement Association (ARA) on Aug. 25 to clarify... READ MORE
An important part of SECURE 2.0 that should garner more attention is The Savings Access for Escaping and Rebuilding (SAFER) Act. It allows for an Internal Revenue Code Section 72(t) withdrawal, without the 10% additional tax on early distributions, from qualified retirement plans for survivors of... READ MORE
Tom Finnegan, the first American Retirement Association President, has passed away. A dear friend and colleague to many in the organization and the industry, he also served as president of both ASPPA and the ASPPA College of Pension Actuaries (ACOPA), now the American Society of Enrolled Actuaries... READ MORE
Defined contribution plans are constantly evolving and the number of features plan sponsors can select that encourage employee participation, recruitment and retention, continues to grow. But plan sponsors must balance the desire to offer these incentives and the need to keep the plan manageable... READ MORE
We’ve been calling on all ASPPA members to join us at ASPPA Annual as agents of change to ensure that all working Americans have the ability to save for a dignified retirement. To help us achieve this goal, we’ll give you the resources you need at this event:  presentations that will help you... READ MORE
PenChecks Trust Company of America and ASPPA are pleased to offer the 10th annual QKA Scholarship Program for ASPPA’s credentials, including the QKA, QKC, QPA, and CPC. The 2023 PenChecks Trust ASPPA Scholarship will be awarded to 14 individuals who make the most compelling case for how the... READ MORE
The newest digital edition of ASPPA’s members-only magazine has been posted online! For the self-employed and small business owners with a Solo 401(k) plan, important rules need to be carefully considered in the coming years. In this issue’s cover story, an expert panel—Nevin Adams, Dick Billings... READ MORE
ASPPA Connect will not be published on Monday, June 19 as our offices will be closed on Juneteenth. ASPPA Connect will resume publication on Wednesday, June 21.  Juneteenth, our newest federal holiday, is the oldest known celebration commemorating the end of slavery in the United States. Union... READ MORE
Your SECURE Cheatsheet. As featured in Plan Consultant Magazine 2023 Summer Issue. Download the full .pdf copy of the chart here. Feeling overwhelmed by SECURE 1.0 and SECURE 2.0? You’re forgiven, as there are many provisions with which people are struggling. We can help. Here is a handy side-by-... READ MORE
What's in the episode?: “Our constituents are critically important to this country,” Investment Company Institute’s (ICI) Eric Pan tells Brian Graff in the latest episode of D.C. Pension Geeks. “They’re critically important not only to the economic success of the country, but they’re also... READ MORE
Nevada is poised to become another state with a state-run retirement savings program for private-sector employees.  The Nevada Assembly passed the bill, SB305, on June 4 by a vote of 35-7. Senate Chief Majority Whip Dallas Harris (D-Las Vegas) introduced the bill on March 16; it was referred to... READ MORE
Retirement Clearinghouse, a Charlotte, NC-based firm, which helps to automatically move participant’s retirement account balances from a former employer to their new employer, has notified individuals in various states of a data breach.   As many as 10,509 individuals may have had their personal... READ MORE
Registration is now open for the 2023 ASPPA Annual! Join us October 22-25!   In the ever-evolving landscape of retirement plan services, change is the only constant. It's time to embrace this change and transform it into an opportunity for growth and progress. This year's theme, "Agents of Change... READ MORE
Minnesota became the latest state to officially launch a state-sponsored retirement plan for private-sector employees lacking coverage.  Gov. Tim Walz (D) signed HF0782, the measure that creates the Minnesota Secure Choice retirement program, into law on May 19, making it one of 12 states offering... READ MORE
Talk about a timely topic—the passage and adoption of state-facilitated retirement savings programs (usually auto-IRAs) continues, with the latest, Minnesota, happening in mid-May. It’s something that the Center for Retirement Initiatives (CRI) at Georgetown University’s McCourt School of Public... READ MORE