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By Nevin Adams 8/13/2018

The judge in a recent excessive fee case decision had a lot to say – about the plan committee members – and the expert witnesses called to testify. I’m talking about the recent decision in Sacerdote v. N.Y. Univ., S.D.N.Y., No. 1:16-cv-06284-KBF, judgment 7/31/18, a suit brought by participants in... READ MORE

You Won’t Want to Miss the 2018 ASPPA Annual Conference!

By Angie Barclay 8/13/2018

We’ve been hard at work filling an extensive schedule with options to meet your continuing education credit requirements, strengthen your knowledge, and expand your expertise. There will be a number of sessions that encourage audience participation and discussion, fostering engagement with your... READ MORE

Introduction to ASOP 51

By Justin Greindl 8/13/2018

For those who may have been preoccupied with last year’s deadline season, the ASB adopted a new ASOP last September 2017. This ASOP has been a few years in the making, with the First Exposure Draft in December 2014 and the Second Exposure Draft in June 2016. We are now approaching the effective... READ MORE

Knock, Knock! Who’s There? GDPR! GDPR! GDPR!

By Eugene Joseph 8/13/2018

The answer to most “knock knock” jokes is hilarious and funny. However, the answer, “GDPR, GDPR, GDPR,” to my “Knock Knock! Who's there?” post on the ACOPA Listserv on June 6, 2018, is anything but hilarious and funny. What is GDPR? The acronym GDPR stands for the General Data Protection... READ MORE

ACOPA Honors Norman Levinrad with Edward E. Burrows Distinguished Achievement Award

By ASPPA Net Staff 8/9/2018

The ASPPA College of Pension Actuaries (ACOPA) honored Norman Levinrad, EA, CPC, FSPA, MAAA, with the 2018 Edward E. Burrows Distinguished Achievement Award at the ACOPA Actuarial Symposium in Chicago on Aug. 10. The Edward E. Burrows Distinguished Achievement Award is presented annually to a... READ MORE

Proposed Rules Address New 20% Deduction for Pass-Through Entities

By Ted Godbout 8/9/2018

The Treasury Department and the IRS issued proposed regulations Aug. 8 on the deduction for qualified business income under the new Code Section 199A. Enacted as part of the Tax Cuts and Jobs Act (TCJA), the new Section 199A provides a deduction of up to 20% of income from a domestic business... READ MORE

White House May Tap Former SEC Enforcement Lawyer to Replace Stein

By ASPPA Net Staff 8/8/2018

Trump administration officials are focusing on a former SEC enforcement attorney to replace Democratic Commissioner Kara Stein, who must step down by the end of the year, Bloomberg reported Aug. 6.Allison H. Lee served as a general attorney in the SEC’s Denver office from 2005 to 2013, followed by... READ MORE

Benefits of Financial Wellness Still Largely Misunderstood

By Ted Godbout 8/7/2018

While interest surrounding financial wellness programs appears to be growing in the workplace, there continues to be a lack of understanding about the value they deliver to both employers and employees, according to a recent report. In “Assessing the Merits and Challenges of Financial... READ MORE

‘Multiple’ Choices: All MEPs Not Created Equal

By Nevin Adams 8/6/2018

Multiple employer plans (MEPs) continue to generate plenty of discussion.The reason is the Small Business Employees Retirement Enhancement Act, introduced earlier this month by Sen. Tom Cotton (R-AR), which includes provisions regarding so-called “open” MEPs, a type of employee benefit plan that... READ MORE

Retirement ‘Chasers’ Worry it May Be Too Late

By Ted Godbout 8/6/2018

While the vast majority of active retirement savers agree that accumulating enough savings is an important factor in their ability to retire comfortably, a significant subset is worried they’re already too far behind to reach their goals, a new study finds.According to Allianz Life’s Chasing... READ MORE

ARA Submits Comments to SEC on Proposed Regulation Best Interest and More

By Ted Godbout 8/3/2018

The American Retirement Association has weighed in on the SEC’s Regulation Best Interest proposal.Overall, the ARA’s Aug. 3 comment letter commends the commission’s efforts to tailor the proposed rules to “preserve investor choice with regard to business models and compensation practices in a... READ MORE

10th Annual Cincinnati ASPPA Regional Conference Coming Up

By Rebekah Whitaker 8/3/2018

Join us for the 10th Annual Cincinnati ASPPA Regional Conference on Nov. 12-13, 2018. Register now to save $100 off the regular registration fee. Registration materials can be found at http://aspparegionals.org/ and hotel reservations may be made at https://book.passkey.com/event/49638425/owner/... READ MORE

Temperatures – and 401(k) Balances – Heated Up in July

By ASPPA Net Staff 8/3/2018

Things continued to heat up in July for those average 401(k) balances.According to estimates from the nonpartisan Employee Benefit Research Institute (EBRI) based on the actual contribution records and investment choices of several million consistent participants in the EBRI/ICI database, the... READ MORE

Catch Up on CE Credits!

By ASPPA Net Staff 8/1/2018

Summer can be a great time to catch up on continuing education credits — and ASPPA has plenty of easy-to-access alternatives. We’ve got great information on compelling topics — and you can do it all without leaving your desk (or hammock). Upcoming Live Webcasts August 29 — How a Defined Benefit... READ MORE

Senate Bill Incorporates ARA Recommendations to Expand EPCRS

By Ted Godbout 8/1/2018

Bipartisan legislation has been introduced in the U.S. Senate that would expand the ability of certain retirement plan sponsors to correct inadvertent compliance errors under the IRS’ Employee Plan Compliance Resolution System (EPCRS). The bipartisan duo of Sens. Rob Portman (R-OH) and Ben Cardin... READ MORE

TSP-Themed ‘American Savings Accounts’ Resurface in Senate Bill

By ASPPA Net Staff 7/31/2018

Legislation has been introduced in the U.S. Senate that would give any worker not currently covered by an employer-sponsored retirement plan access to a new type of retirement savings account.The American Savings Act, first introduced in January 2016 and reintroduced July 19 by Sen. Jeff Merkley (D... READ MORE

State Attorneys General to DOL: Not so Fast on Association Health Plans

By Ted Godbout 7/30/2018

Eleven states and the District of Columbia have filed suit challenging the Department of Labor’s recently finalized association health plan (AHP) rule. Arguing that the rule is unlawful and should be vacated, the state attorneys general from California, Delaware, Kentucky, Maryland, Massachusetts,... READ MORE

Are Target-Date Funds Enveloped by Unrealistic Expectations?

By John Iekel 7/27/2018

It isn’t hard to find a plan that has invested in target date funds (TDFs). But it can be hard to find assessments that ask hard questions about them. A recent white paper fills that void and asks whether TDFs are the panacea some may think.In “Are Target-Date Funds Enveloped by Unrealistic... READ MORE

SEC’s Peirce Takes on Critics of the Regulation Best Interest

By Ted Godbout 7/27/2018

Securities and Exchange Commissioner Hester Peirce on July 24 argued that the proposed Regulation Best Interest would set clear standards, even though the word “fiduciary” is not directly incorporated in the proposal.Addressing critics who remain unsatisfied, Peirce, who was sworn in in January... READ MORE

Participants Get Errant Loan Text

By ASPPA Net Staff 7/27/2018

An unspecified number of participants in plans recordkept by Vanguard were told their loans had been processed. But they hadn’t. Furthermore, according to the Wall Street Journal (subscription required) the loans hadn’t been requested. The text message informed recipients that their loans had... READ MORE

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