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To reach students, prepare materials that will encourage them to choose to want to learn. That principle applies regardless of whether the audience is teenagers sitting in desks or retirement professionals. In “Focus on Teaching First, Then Finance,” an article in the Fall 2015 edition of Plan...
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In September 2015, more than seven years after issuing proposed rules, the IRS issued final rules under IRC §430. This article will describe the changes and additions made by the final rules.
Note: This is Part 2 of a two-part article. Part 1 appeared in the November ACOPA Monthly.
Timing and...
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The House on Dec. 11, and the Senate on Dec. 10, passed a short-term spending bill that will keep the government funded through Dec. 16. Whether budget legislation ultimately will include provisions affecting the Department of Labor’s (DOL) fiduciary rule remains uncertain.The Hill reports that the...
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Risk transfer events (RTEs) affected more than one million pension plan participants during the period 2009-2013, reports the Pension Benefit Guaranty Corporation (PBGC). In “Risk Transfer Study: Plan Years: 2009-2013,” PBGC actuaries looked at patterns in the data 3,600 large pension plans...
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The IRS has updated the frequently asked questions about the Form 5500 series — and did so in a manner that makes them useful for 2015 reporting.The FAQs are as follows.Q. For the question that asks how the 401(k) plan satisfies the nondiscrimination requirements for employee deferrals and...
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Some may consider it a bundle of coal, and others a vision of sugarplums, but a bipartisan group of lawmakers now says that their legislative proposal to ensure retirement advisors protect clients’ best interests could be introduced before the holiday break.The members of the bipartisan working...
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My single memory of venturing out on Black Friday to shop came at the instigation of my “little” sister, who has long undertaken such forays. Nor was this to be a random shopping expedition — armed with circulars and coupons, she directed me and my two brothers with the fervor and furor of General...
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For those thinking the impetus behind the Labor Department’s fiduciary proposal might fade with a change in administrations, think again.Earlier this week, presidential aspirant and likely Democratic nominee Hillary Clinton shared her perspective on the fiduciary proposal in no less a forum than a...
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The U.S. Supreme Court’s June ruling in Obergefell v. Hodges, 576 U.S. ___, 135 S.Ct. 2584 (2015), the decision that overturned state laws and constitutional amendments that defined marriage as occurring between a man and a woman had many consequences, and retirement plans are among the areas it...
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IRA holders and those who provide them services may be interested to know that the IRS has made modifications to the Form 5329, “Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts.” The IRS has issued the version to be used for 2015 reporting.The IRS modified Part...
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