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Picking up where they left off in the last Congress, Reps. Lisa Blunt Rochester (D-DE) and Tim Walberg (R-MI) have reintroduced legislation to make it easier for retirement plan sponsors to provide guaranteed lifetime income products as part of their DC plan.
In general, the Increasing Access...
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There is less than a month to make required minimum distributions (RMDs) from traditional IRAs and employer-provided retirement plans to taxpayers who reached age 70½ in 2018. The IRS on March 5 in IR-2019-29 issued a reminder that the deadline is April 1.
The April 1 deadline applies to owners of...
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The IRS on March 6 announced that it no longer intends to amend the required minimum distribution (RMD) regulations to address the practice of offering retirees and beneficiaries who are currently receiving annuity payments under a defined benefit plan a temporary option to elect a lump-sum payment...
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Democrats in both houses of Congress have introduced legislation that will tax financial transactions – including those in your 401(k).
"It's called the Wall Street Tax Act, but it's really a Main Street savings attack," said Brian Graff, CEO of the American Retirement Association.
The Wall...
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The California Secure Choice Retirement Savings Investment Board has proposed regulations that would directly address questions of eligibility, processes and duties, as well as further define terms and clarify sections of the law that created the CalSavers Retirement Savings Program.
The board...
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A group consisting of 12 separate financial services trade associations – including SIFMA, ACLI and the U.S. Chamber of Commerce – have highlighted both preemption issues and legal deficiencies with Nevada’s proposed fiduciary regulation that they say goes “well beyond” the state’s legal authority...
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Of late, we’ve been getting a lot of questions about legislation that would create open multiple employer plans (MEPs). Here’s the update.
Ever since the Department of Labor issued an explicit ruling in 2012 that an open MEP is not a single employee benefit pension plan but a group of single...
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Some plan sponsors and administrators “stretch the match” as a way to increase participants’ contributions to their retirement savings accounts. Does the strategy work? A recently released study seeks to find out.
Stretching the match is a practice in which an employer sets a higher employee...
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Plan fiduciaries have asked the nation’s highest court to weigh in on when ERISA’s three-year statute of limitations begins – and if disclosure alone is enough to start that clock.
In asking the U.S. Supreme Court to take up the case, plan fiduciaries at Intel said the question presented was “...
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The Silver State managed to overlook the long history of ERISA preemption in its recent draft fiduciary regulations. Once again, the American Retirement Association has brought this to their attention.
The comments came in response to draft regulations issue in mid-January by Nevada’s Office of...
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