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Congressional critics of the Department of Labor’s (DOL) final fiduciary rule, officially called the Retirement Security Rule, announced May 15 that they are moving forward with their attempt to block the rule from taking effect.
Several high-profile senators and representatives introduced a...
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Compliance with reporting requirements is critical, but can be complicated. So a refresher on staying in compliance is always timely—and a May 15 session of the 2024 ASPPA Spring National offered a discussion that focused on the IRS Employee Plans Compliance Resolution System (EPCRS).
David...
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The Department of Labor (DOL) has released interim final rules and an amendment to a prohibited transaction class exemption (PTE) to make it easier for Chapter 7 bankruptcy trustees to distribute assets from bankrupt companies’ retirement plans.
The guidance issued May 16 by the DOL’s Employee...
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A group of retirement industry groups has asked the United States Supreme Court to hear a case they say if “left undisturbed… has the potential to impact the orderly and efficient operation of every retirement plan in the country.”
Filing an amicus (friend of the court) brief in support of the...
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The IRS has updated static mortality tables to be used for defined benefit plans under Internal Revenue Code (IRC) Section 430(h)(3)(A) and Section 303(h)(3)(A) of ERISA. The IRS made the announcement in Notice 2024-42.
These updated tables apply for calculation of the funding target and other...
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The settlements are lining up in a number of so-called excessive fee suits—including one at the 11th hour—all with plaintiffs represented by Capozzi Adler PC.
Mass General Brigham
Plaintiffs Mark Norton, Daska Louis, Caroline Mitchell, Nancy Barlett, and Azilda Cordahi and Defendants Mass General...
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Teachers are closer to having expanded options for retirement income in two states as their legislatures consider—and chambers pass—bills that would do that.
Alaska
In Alaska, teachers would be able to choose between defined benefit or defined contribution coverage if a bill that would allow...
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Like many, perhaps most, families—mine never really talked about money or finance.
Doubtless that was in no small part because neither of those were in abundance in our household. But mostly, I suspect, it was because that was just one of “those” topics that were deemed by my parents’ generation...
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During the height of COVID, many workers quit their jobs in droves, which led to the coining of the term “The Great Resignation,” but are they now regretting it? A new survey of U.S. workers examines job satisfaction among those who left and those who stayed.
As part of a job satisfaction survey...
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A new report provides some interesting insights on 401(k) participants and their behaviors—and reminds of the challenges in tracking trendlines.
The report—aptly titled “401(k) Plan Asset Allocation, Account Balances, and Loan Activity in 2022”—provides a snapshot on the how, and how much 401(k)s...
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