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On Oct. 5, 2018, the American Retirement Association (ARA) filed a comment letter with Carol Weiser, Acting Benefits Tax Counsel at the Treasury Department, with recommendations on the implementation of updates to life expectancy and distribution period tables for purposes of required minimum... READ MORE
A program letter from the heads of the IRS Tax Exempt & Government Entities (TE/GE) division provides an update on the compliance, data, process and casework strategies the division plans to focus on in the coming year. Not surprisingly, implementing the Tax Cuts and Jobs Act (TCJA) will... READ MORE
The American Retirement Association has formally requested relief for taxpayers and service providers adversely affected by Hurricane Florence.    Specifically, the letter requests: Relief for taxpayers who would like to use their retirement assets in qualified retirement plans to alleviate... READ MORE
The American Retirement Association is urging Congress to approve legislation providing victims of Hurricanes Harvey, Irma and Maria access to their 401(k) and similar plan savings without incurring IRS penalties and taxes.    The ARA has been making the case that legislation should mirror the... READ MORE
Defined contribution plans are the most common among private sector workers, reports the U.S. Bureau of Labor Statistics (BLS). It found in a study it conducted in March that DC plans were the kind of retirement plans in which a majority of workers in all sectors but one that it measured... READ MORE
Legislation has been introduced in the U. S. House of Representatives that would create a parallel government-run retirement savings program – and one that could undermine the 401(k), particularly for small business owners.The Portable Retirement and Investment Act of 2018 (H.R. 6990), just... READ MORE
The Pension Benefit Guaranty Corporation (PBGC) has issued a final rule amending its regulations on guaranteed benefits and asset allocation. The amendments incorporate changes the Pension Protection Act of 2006 (PPA) made to the rules for participants with certain ownership interests.   Before... READ MORE
The Oregon Retirement Savings Board (ORSB) on Oct. 9 will consider proposed changes to the rules for OregonSaves, the state-run retirement savings program for private-sector workers in the Beaver State.The proposed rule changes were drafted with the assistance of a rulemaking advisory committee... READ MORE
The Internal Revenue Service has released a new revenue procedure updating the Employee Plans Compliance Resolution System (EPCRS) – and an announcement that beginning next year, all Voluntary Correction Program filings will have to be done online. This revenue procedure updates the system of... READ MORE
Just when you thought retirement plan projections couldn’t get any worse… Last week the National Institute on Retirement Security released a report – “Retirement in America | Out of Reach for Most Americans?” that claimed that the median retirement account balance among all working individuals is... READ MORE

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