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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”...
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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...
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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,...
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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...
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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...
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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...
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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...
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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...
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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,”...
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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...
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