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Whether working towards an ASPPA credential or just growing knowledge in specific areas, ASPPA exams offer CPE credits (valid for ASPPA, JBEA and ERPA). Proctored exam window is open November 1 to December 14 - register early and have time to prepare.
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[Guidance Overview]
DOL Service Provider and Participant Fee Disclosure Deadlines
"Despite the extensions, plan administrators should familiarize themselves with these disclosure requirements and begin developing their compliance plans. [This article includes a 'Sample Service Provider Disclosure Checklist for Plan Administrators' and a 'Sample Participant Fee Disclosure Checklist for Plan Administrators.']"
(McDermott Will & Emery)
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[Guidance Overview]
Church Plan Administrators Are Subject to State Law Claims
"[T]he recent case of Johnson v. The Evangelical Lutheran Church in America provides a reminder that church plan administrators can be subject to breach of fiduciary duty claims and breach of contract claims under state law. Because many church retirement plans are underfunded, administrators of those plans will want to pay close attention to the Johnson case as it moves forward."
(Verrill Dana, LLP)
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[Guidance Overview]
Tenth Circuit Issues Cash Balance Plan Decision Finding in Favor of Plan Sponsor
"Between the now-unanimous decisions of the Courts of Appeals upholding cash balance plans against ADEA challenges, and the new ERISA provisions explicitly blessing cash balance designs, it is expected that plaintiffs' lawyers will find these cases considerably less attractive."
(Littler Mendelson P.C.)
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[Guidance Overview]
Roth IRA Restructure Transactions Were Attempt to Disguise Excess Contributions
"A taxpayer was liable for excise taxes and additions to tax for the conversion of a traditional IRA to a Roth IRA in complex Roth restructure transactions that lacked economic substance and were merely an attempt to avoid taxes and disguise excess contributions to the Roth IRA, the U.S. Tax Court has ruled in Paschall v. Commissioner."
(Wolters Kluwer Law & Business / CCH)
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[Guidance Overview]
Appellate Court Finds Cash Balance Plan Not Age-Biased
"A group of participants contended that the wear-away periods that occurred during the transition from a defined benefit pension plan to the cash balance plan violated the ADEA's prohibition on age discrimination and the anti-backloading and notice provisions of ERISA . . . ."
(PLANSPONSOR.COM)
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Does Raising the Retirement Age Increase Employment of Older Workers?
"This paper studies how an increase in the minimum retirement age affects the labor market behavior of older workers. . . . Specifically, the unemployment rate increased by 10 percentage points among men and 11 percentage points among women. In contrast, the policy change had only a small impact on the share of individuals claiming disability or partial retirement benefits."
(Social Science Research Network)
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How to Manage Your 401(k) Through Market Down Swings
"Regular investing turns out to be a great thing with 401(k) plans. Each pay period most of us contribute a specific percentage of our paycheck into our plan. When the markets are down, your money is buying a greater quantity of shares. When the markets are up, your money purchases fewer shares. This is called dollar cost averaging. Because you get more shares when markets are down, you tend to be better off down the road."
(Forbes.com LLC)
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Louisiana Pension Funds May Rue Quick Hedge Fund Deal
"Last month, officials at the three pension funds announced that they had assembled experts to review the hedge fund's financial statements. Around the same time, the New York Times and the Wall Street Journal, citing a person with 'direct knowledge of the situation,' reported that the Securities and Exchange Commission had launched a probe into the hedge fund and its manager, Alphonse Fletcher Jr."
(New Orleans Net LLC)
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Pension Debate Faces California Lawmakers After Summer Recess
"Five months after Gov. Jerry Brown released a 12-point plan to reform public pensions, there has been a lot of talk but little action on the issue at the Capitol. That could change this week when lawmakers return from their summer recess. Legislative leaders are considering several ways to address pension abuses and long-term financial health in the systems that pay for government worker retirement benefits."
(San Jose Mercury News)
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Online Calculator Proposes Annuities for Retirement Income
"[Fidelity Investment's 'Income Strategy Evaluator'] may be the first online calculator that proposes how individuals should invest their nest egg to ensure it will last through retirement."
(Trustees of Boston College, Center for Retirement Research)
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[Opinion]
DOL's Fiduciary Rule: Major Unintended Consequences
"We believe that the DOL is well-intentioned and they are seeking to fulfill their mission to protect working Americans. However, the DOL's rule could damage Americans' ability to utilize IRAs."
(Capitol Hill Publishing Corp.)
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[Opinion]
Bipartisan Support in Washington for 401(k) Skimming
"According to the [Wall Street] Journal there is bipartisan opposition to a Department of Labor proposal holding Wall Street more accountable when entrusted with investing worker's hard earned retirement savings. That should come as no surprise given the political contributions both parties receive from the financial services industry."
(Forbes.com LLC)
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[Opinion]
Market Swings Show Why Risks in Retirement Savings Need to Be Shared
"For individual investors, whose ability to retire depends on stock investments in 401(k)'s and other retirement plans, recent swoons are yet another hit. In the Great Recession, the stock market plunged more than 55 percent from its peak in October 2007, finally hitting bottom in March 2009."
(The New York Times; free registration required)
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Press Releases
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