Advertisement
News Archive
Pension de-risking occurred at a brisk pace in 2018. In fact, it was so robust, says a recent study, that if trends continue, a “significant portion” of the $3 trillion-plus of pension plan liabilities that have not been de-risked will be transferred in the next 10 years.
A variety of factors are...
READ MORE
The threat of being sued continues to dominate plan sponsor reluctance of being too innovative with their defined contribution plans, a recent study finds.
According to Alight Solution’s 2019 Hot Topics in Retirement and Financial Wellbeing report, “Building on the past, working toward the future...
READ MORE
When it comes to participant communications, a new white paper suggests that some retirement plan terms have meanings that are completely out of step with the definitions most people associate with them.
In “Boosting the effectiveness of retirement plan communications,” the Empower Institute...
READ MORE
In order to serve a client effectively — and fulfill fiduciary duties, BTW — a fiduciary of course must know their client. And one also must pursue the client’s best interest. But it’s possible that those goals may not always be congruent; in fact, they may even be mutually exclusive, argues a...
READ MORE
A fiduciary must be prudent. But what exactly is prudence? A recent blog entry broaches the subject.
In “Dear Prudence,” an entry in the blog The Research Puzzle, Tom Brakke writes that “at the core” of laws and regulations that guide those who assist others in managing their assets “is the...
READ MORE
Has an index fund become a presumption of prudence?
You may remember that not so very long ago, courts had determined that the holding of employer stock in Employee Stock Ownership Plans (ESOPs) was entitled to a presumption that their fund management was prudent under a “presumption of prudence”...
READ MORE
Employer sentiment regarding the most important employee behavior within their 401(k) plan has changed quite drastically over the past 15 years and will likely change again, according to Alight Solutions.
In 2005, interpreting new laws like the safe harbor for automatic rollovers and force-outs...
READ MORE
Like water poured on the top of a hill whose reach is quick and hard to control, the stalemate in Washington is spreading beyond what’s reported on the nightly news. Add retirement plan administration to the list of everyday functions that are now feeling the impacts.
The most predictable effect,...
READ MORE
Dearest ACOPA Members (and you are the dearest!) –
January 2018 set a record for most data requests sent in by my clients. But sure enough, January 2019 broke that record. Just keeping track of what has come in is a job itself, and enough to make my head spin. Presumably I am that much closer to...
READ MORE
If you’re like me, your ASC 715 valuations around 2013 and earlier often used for the mortality assumption what I’ll call the “IRS funding tables” – specifically, the separate or combined static annuitant/nonannuitant tables in effect for a given year published in IRS Notices. (And, if you’re like...
READ MORE
Legislation has been introduced in the Bay State that would expand the Commonwealth’s auto-IRA program for private sector workers and establish a 401(k) parallel, with an employer mandate.
The first bill, SD 1902, introduced by state senator Patricia D. Jehlen, establishes the Massachusetts Secure...
READ MORE
Misunderstanding what the “15th business day” means for purposes of Department of Labor (DOL) regulations can earn one unwelcome federal attention. A recent blog entry discusses that risk and how to obviate it.
The DOL’s participant contribution regulation requires employers of all sizes to...
READ MORE
The IRS on Jan. 21 issued the instructions for the Form 5329, Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts to be used in reporting concerning benefits and distributions from 2018. Employers, plan administrators and retirement plan professionals may find it a...
READ MORE
Like a teeth cleaning, plan audits are not popular but serve a useful purpose. And for many plans, they are unavoidable. But a plan audit need not be unpleasant, and there are steps that can be taken to prepare for one and make it a smoother experience.
In “Making Your Benefit Plan Audit Easier,”...
READ MORE
Members of the American Academy of Actuaries (AAA) have filed a class action lawsuit against the AAA’s board alleging violations of the organization’s bylaws.
The complaint (2018-CH-15777) was filed on Dec. 20, 2018 in Cook County Circuit Court in Illinois. It alleges that the defendants, who are...
READ MORE
Happy New Year to one and all! May the New Year bring you success in all your endeavors.
Almost 3 months into the ACOPA year, most of the ACOPA time of Leadership continues to be spent on determining how to respond the recent Academy decision to exclude ACOPA (and CCA) from the Selection Committee...
READ MORE
The American Retirement Association’s governmental affairs staff and volunteer Legislative Relations Committee (LRC) both review legislative proposals and proactively propose legislative changes to improve the employer-provided retirement system. Over a period of years, many of ARA’s proposals have...
READ MORE
Nevada’s Office of the Secretary of State, Securities Division, on Jan. 18 released draft regulations defining the state’s new fiduciary standard based on legislation enacted by the state’s legislature in 2017 – the first of several states to do so.
There does not appear to be an ERISA exemption,...
READ MORE
Rep. Maxine Waters (D-CA), the new chair of the House Financial Services Committee, recently outlined a full-bodied agenda that seeks to protect consumers, safeguard investors and prevent another financial crisis.
In terms of setting the committee’s agenda, Waters, who has served on the committee...
READ MORE
Three years to the day after filing suit, a 401(k) plan participant has dropped his excessive fee suit – with a whimper, not a bang.
The suit, originally filed Jan. 14, 2016 in the U.S. District Court for the District of Colorado, was filed by Wahan Krikorian, a participant in the TPS Parking...
READ MORE