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News Archive
There are many important topics to cover when educating plan participants about a 401(k) plan and saving for retirement. In the process, it’s not hard to miss some matters that should be covered. A recent blog entry argues that five important topics often are omitted.
In “5 Top Education Topics...
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Are you tired of the everyday grind? Looking for an opportunity to take a step back and re-energize yourself? Earn some CE credits by attending the last ASPPA live conference offered during 2019. The ASPPA Cincinnati Regional Conference will be held Nov. 11-12, 2019 at the Cincinnati Marriott...
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The Wall Street Journal’s editorial board has challenged a specific “pay for” provision in the SECURE Act. But they’re missing the big(ger) picture.
One of the main reasons the SECURE Act passed the House of Representatives by the large margin of 417-3 was that, as the WSJ acknowledges, it was “...
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Do you know of an ASPPA member who has made a significant contribution to pension education, especially in the last 12 months? You can help make it possible for him or her to receive recognition! Nominations are now being accepted by the ASPPA Retirement Plan Academy Advisory Group for ASPPA’s...
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While it’s clear that mergers and acquisitions comprised the largest share of restructuring in the last two decades, their effect on retirement benefits is less so, says a new Government Accountability Office (GAO) report.
In “Retirement Security: Trends in Corporate Restructurings and...
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A new multinational survey finds that retirement benefits are considered a top factor among individuals when deciding on a job offer, and a separate multinational survey contends a company’s workplace culture is just as important.
Survey results from Accenture covering 5,000 employees across 10...
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Most DC plan sponsors feel a high level of responsibility for participants’ financial wellness, but a new survey finds that many are not taking proactive measures to position them for success.
J.P. Morgan Asset Management’s fourth biennial survey of U.S. defined contribution plan sponsors finds...
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American Retirement Association Chief Government Affairs Officer Will Hansen and past ASPPA President Stephen Dobrow offered testimony concerning benefit plan audits and how they may be improved at the June 25 meeting of the Department of Labor’s Advisory Council on Employee Welfare and Pension...
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Patrick Pizzella, the current Deputy Secretary of the Department of Labor, will take over as the Acting Labor Secretary in the wake of Alexander Acosta’s July 12 resignation.
Pizzella, who has served as the Deputy Secretary since April 2018, will likely serve as the Acting Secretary until a...
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Secretary of Labor Alex Acosta has resigned in the wake of controversy regarding a plea deal he negotiated more than a decade ago with wealthy financier Jeffrey Epstein.
Acosta made the announcement to reporters while standing next to President Donald Trump outside the White House. Trump said that...
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The IRS and the Department of Labor should establish a formal way of collaborating on oversight of prohibited IRA transaction exemptions, the Government Accountability Office (GAO) has recommended.
The GAO undertook the study that led to its report, “Individual Retirement Accounts: Formalizing...
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Since employees and their behavior are at the root of most decisions about retirement plan participation and how individual accounts are managed, insight into behavior that affects those decisions can be a useful tool in understanding how those choices are made.
In a July 9 webcast, “Behavioral...
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A recent decision by the nation’s highest court could have implications for the Labor Department’s fiduciary rule.
The case itself (Kisor v. Wilkie) didn’t have anything to do with the fiduciary rule, or even the Labor Department. The plaintiff here was James Kisor, a Vietnam War veteran who...
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Recent developments at the Pension Benefit Guaranty Corporation (PBGC) have resulted in new forms, a new final rule and a new page listing notices for plan participants.
New Form and Instructions
The PBGC has announced that a new form and instructions for requesting a determination regarding...
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The so-called Butch Lewis Act to address funding problems facing multiemployer pension plans continues to work its way through the legislative labyrinth, with a second House committee approving the legislation in recent weeks.
In what at times was a hotly debated markup session, on July 10 the...
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One strategy that’s often recommended to increase plan contributions in plans without automatic enrollment is to “stretch the match,” but a recent study suggests that may not achieve the desired results.
When plan sponsors stretch the match, they apply an existing dollar match to a higher...
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Having been named in at least three separate suits regarding its FundsNetwork platform structure, Fidelity has filed a response.
The suits have been brought by participants in various 401(k) plans served by Fidelity (including the Publicis Benefits Connection 401(k) Retirement Savings Plan, the...
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The Auditing Standards Board (ASB) of the American Institute of CPAs (AICPA) has issued two new statements on auditing standards: one concerning auditor reporting on financial statements by plans covered by ERISA, and the other concerning transparency in annual reports.
Statement on Auditing...
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Paying their children’s expenses while caring for their parents, Gen X families are facing a precarious financial situation as they close in on retirement, a new report explains.
The study by the Employee Benefit Research Institute (EBRI), which examines key financial indicators of Gen X...
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Pension plans managed by religious organizations in Rhode Island now must provide regular updates to participants on the financial health of the plans. Gov. Gina Raimondo (D) signed a measure on July 2 setting that requirement into law.
House Majority Leader K. Joseph Shekarchi (D-Warwick)...
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