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The Internal Revenue Service wants to encourage plan sponsors to correct certain plan failures — and they’re offering some financial incentives to do so.To encourage employers that sponsor 401(a) qualified retirement plans and 403(b) plans to correct plan failures through its Voluntary Correction...
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March 20-22, 2016 marks the dates for the second annual ASPPA Business Managers and Owners Council (BMOC) Conference. This year’s conference has been moved to a new location, the Hilton Rosemont Hotel in Rosemont, Ill. — just a short distance from the easily accessible Chicago O’Hare airport. The...
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A convicted killer won’t be able to shield his retirement assets from a $124 million jury judgment in a case brought by the estate of the wife he killed. A Montgomery County Court of Common Pleas judge ruled Jan. 5 that the estate of Ellen Gregory, whom Rafael Robb killed in 2006, will be able to...
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Last year proved to be a volatile one for pension funding, but how did the nation’s largest corporate pension plans fare compared with the year before?A new analysis by Towers Watson of pension plan data for the 413 Fortune 1000 companies that sponsor defined benefit plans and have a December...
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Among the keys to providing excellent service to clients is to do so in an ethical and professional manner. And one of the ways to do that is to understand Circular 230.“Ethics 2015: Circular 230, Professionalism and Case Studies,” a webinar which aired on Dec. 3, featured an overview of Circular...
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The Nutmeg State has taken another step toward the creation of a state-run retirement program for private sector workers with the release of a lengthy report detailing the potential elements of such a program.In 2014, Connecticut enacted legislation creating the Connecticut Retirement Security...
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The advent of a new year traditionally is a time to take of stock of where one has been and what lies ahead. Accordingly, Transamerica recently issued “Prescience 2019: Expert Opinions on the Future of Retirement Plans,” a report containing the results of its survey of experts from a wide range of...
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The IRS has issued an updated version of Publication 575, “Pension and Annuity Income,” for use in preparing 2015 returns. It made changes to the exception to the tax on early distributions from a governmental plan for qualified public safety employees and to the rules regarding rollovers to SIMPLE...
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The Pension Benefit Guaranty Corporation (PBGC) on Jan. 5 announced that it is ready to accept electronic premium filings for plan years beginning in 2016. It has completed work to prepare its “My Plan Administration Account” (My PAA), a secure Web-based application that enables pension plan...
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It is something of a tradition this time of year to look back, to reminiscence about past events and lessons learned, and sometimes to look ahead. Here are some insights that should help lay the groundwork for a productive and prosperous 2016.Things Everyone Who Works With/For Retirement Plans...
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