ASPPA

Executive Administrative Assistant
Women in Pensions Network (WiPN)
in ANY STATE

401k Administrator
CBIZ Benefits and Insurance Services, Inc.
in AZ, CO, TX

Benefits Analyst
Blue Shield of California
in CA

Retirement Benefits Consultant
Blue Shield of California
in CA

Non-Qualified Retirement Plan Administrator
The Hebets Company
in AZ

CB and DB Plan Administrator / Actuary
Cash Balance Actuaries, LLC
in ANY STATE, MN

Plan Documents Administrator
MBM Advisors, Inc.
in TX

Senior Investment Consultant
The Newport Group
in FL

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Affordable Care Act Compliance Assistance - Part 1: Wellness Program Rules -- Recorded
April 18, 2014 WEBCAST
(Employee Benefits Security Administration (EBSA), U.S. Department of Labor)

Savings Fitness: A Guide to Your Money and Your Financial Future
April 23, 2014 WEBCAST
(Employee Benefits Security Administration (EBSA), U.S. Department of Labor)

IRS Notice 2014-19 on the Application of the U.S. Supreme Court’s Decision on Same-Sex Marriage to Qualified Retirement Plans
May 8, 2014 WEBCAST
(Erisafile Inc.)

Getting It Right – Know Your Fiduciary Responsibilities
June 3, 2014 in CT
(Employee Benefits Security Administration (EBSA), U.S. Department of Labor)

2014 SPARK National Conference
June 14, 2014 in DC
(SPARK Institute)

Getting It Right – Know Your Fiduciary Responsibilities
July 10, 2014 in OK
(Employee Benefits Security Administration (EBSA), U.S. Department of Labor)

View All Webcasts and Conferences

[Guidance Overview]

The Honeymoon Is Over: IRS Says It Is Time to Amend Plans to Cover Same-Sex Spouses
"The Notice focuses solely on the tax qualification rules of IRC section 401(a), and does not address any claims participants or their same-sex spouses may have under [ERISA]. For example, the Notice does not address whether a participant or a same-sex spouse may argue that same-sex spouses should have been recognized prior to the Windsor decision, especially since the Notice explicitly permits a plan to do so without adversely affecting its tax qualified status." [Article includes a chart listing plan provisions potentially impacted by the Windsor decision.] (Sutherland)  

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[Guidance Overview]

IRS Rev. Rul. 2014-9 Offers Rollover Due Diligence Safe Harbor (PDF)
"Although the requirement to offer a rollover does not require transferring funds to defined benefit plans, such plans are not precluded from accepting rollovers, as IRS clarified in its regulations. Indeed, recent guidance from IRS and PBGC affirms the ability to make such rollovers and explains how various qualification and benefit guarantee rules operate for them." (Buck Consultants)  

[Guidance Overview]

IRS Offers Two New Due Diligence Safe Harbor Procedures for Accepting Rollovers into Qualified Plans
"These procedures describe various fact patterns involving obtaining letters from the transferring plan or IRA regarding the transferring plan's or IRA's status, certain factual representations from the transferring participant regarding compliance with the applicable rules, and/or supporting documentation from the transferring plan or IRA. Absent facts to the contrary, a plan administrator who follows the procedures in the current guidance may treat an inbound rollover as a valid rollover contribution." (Sutherland)  

[Guidance Overview]

IRS Issues Windsor Guidance for Qualified Retirement Plans
"Plan operations are required to reflect the Windsor outcome only as of June 26, 2013. This means that qualified plans are not required to recognize same-sex marriages for dates prior to June 26, 2013.... [P]lans will not be penalized for having determined marital status by reference to the participant's state of domicile before September 16, 2013. Plans can choose to comply with the outcome of Windsor as of any date prior to June 26, 2013, and can choose the purposes for which same-sex marriages are recognized for periods prior to that date." (Ropes & Gray LLP)  

[Guidance Overview]

IRS Expands In-Plan Roth Rollovers
"Plans may restrict the type of contributions eligible for an in-plan Roth rollover.... Amounts transferred to a Roth account are subject to the same withdrawal restrictions as before the transfer.... The 5-year Roth clock starts on the first day of the plan year in which the participant makes their first Roth contribution to the plan.... If the retirement plan provides and the employee is eligible, an employee may receive an in-service distribution to help pay for the taxes." (TRI-AD)  

[Advert.]

PBI receives SSA DMF certification from NTIS for uninterrupted access

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[Guidance Overview]

IRS Issues Guidance on Reducing or Suspending Safe Harbor 401(k) Contributions During a Plan Year
"The IRS has allowed employers who make safe harbor matching contributions to reduce or suspend their safe harbor match during the plan year. However, for those employers who make nonelective contributions, under prior guidance, the employer had to prove a financial hardship in order to reduce or eliminate the nonelective contributions during the plan year. The new IRS guidance provides consistency for all safe harbor designs now." (TRI-AD)  

IRS Puts Retroactivity for Same-Gender Spouses to June 2013
"IRS on April 4 said rules that do not distinguish between same- and opposite-gender married couples in tax and federal retirement plan provisions will be in effect retroactive to June 26, 2013.... The changes in the announcement must be adopted by retirement plans by Dec. 31, 2014, or an applicable deadline under Section 5.05 of IRS Revenue Procedure 2007-44, whichever is later[.]" (Thompson SmartHR Manager)  

Target-Date Funds: Looking Beyond the Glide Path
"A target-date fund's (TDF) glide path, or how its asset allocation changes over time, is critical to helping shape outcomes for TDF investors -- which in turn makes the TDF glide path an important aspect for plan sponsors to focus on in conducting due diligence.... [I]mportant factors include the sub-asset allocation of the funds-especially examining the component of government bonds, and how long-run average correlations of non-government bonds such as high-yield bonds or commodities can break down especially during periods of acute market stress. The paper also looks at the impact of costs particularly in the decision-making process of whether to add more costly asset classes, as well as the tactical flexibility that's permitted in some glide-path construction that could affect stability." (Vanguard)  

IRS Extends FATCA Registration Deadline to May 5, 2014
"Foreign financial institutions must perform due diligence to identify their U.S.-owned accounts and report them to the IRS, as well as act as a withholding agent for payments to other foreign entities. Those 'FFIs' that do not comply with these Foreign Account Tax Compliance Act (FATCA) requirements could face a 30% withholding tax. Some FFIs will need to register with the IRS and sign a Participating FFI Agreement. The deadline has been extended from April 25, 2014 to May 5, 2014." (Holland & Knight)  

Private Sector Pension De-Risking and Participant Protections
"One way to transfer a benefit liability is to transfer the benefit to the participant by paying out the benefit in a lump sum. The other way is to purchase an annuity from an insurance company.... [This de-risking] approach has a much greater impact on plan participants, as it may change who will pay their benefit and requires them to decide whether or not they want to receive a lump sum distribution. It is this ... approach which raises the most issues under ERISA." (Thompson Coburn LLP)  

Congressman Camp's Comprehensive Tax Reform Proposal
"The additional taxes paid on pre-tax DC contributions (both the 5% phase-out and the10% surcharge) don't (apparently) add to 'tax basis'. So the participant pays tax on these contributions going in and going out. While, for employee contributions, switching to Roth contributions may be a way around paying these extra taxes on 'pre-tax' DC contributions, the Roth contribution rules do not apply to employer contributions... Employer contributions are always pre-tax. Thus, the phase-out and surcharge significantly reduce the value of DC benefits to high paid employees. For those employee-taxpayers, a DB plan would have more appeal." (October Three Consulting)  

Employment Statistics, Fiduciary Duty and 401(k) Investor Angst
"[O]ne of the most important things that [plan sponsors and fiduciaries] need to manage is 401k investor angst. We all know the only 401k investors who lost following the 2008/2009 market collapse were those who panicked and sold.... Many investment professionals, while not complaining about last year's high market gains, have expressed concerns about the market outpacing the fundamental data. [A recent] white paper suggests this disconnect may exist." (Fiduciary News)  

Pension Finance Watch, March 2014
"Equities provided a small overall increase, while bond yields dropped slightly in March. These factors combined to nudge the Towers Watson Pension Index down 0.7% for the month, to 75.2." (Towers Watson)  

Deal Voted Down in Rhode Island Pension Overhaul
"A proposed settlement that would end the legal fight over Rhode Island's 2011 landmark pension overhaul, which has been a model for other states looking to rein in runaway pension costs, was rejected by ... [p]olice union members, the smallest of the six groups that had to approve the proposal ... Sixty-one percent of police union members voted against the settlement." (ABC News)  

What If Global Aging Isn't the Crisis We Think It Will Be?
"[University of Edinburgh Professor John MacInnes] has argued that the [UK] government's 'age dependency ratio' needs to be discarded in favor of other measurements that take into account how the composition of UK population has changed in the last generation. Specifically, the introduction of more female workers, how fertility rates have impacted the ratio of workers to dependent citizens, and how a more highly educated workforce shortened the length of time many had to (and therefore chose to) work. Once these factors are taken into account, Professor MacInnes' analysis shows that the aged dependency ratio ... has actually improved in the UK in recent years, and will continue to do so for some time." (Forbes)  

Reducing Volatility in DC Plans: Fiduciary Considerations of Incorporating Downside Risk Management (PDF)
"Although downside risk management strategies may be new to some fiduciaries, it is important to remember that ERISA's fiduciary standard requires adaptation to changing circumstances.... An asset class or investment product that was prudent several years ago could be imprudent today due to changing market conditions. Similarly, an investment option not available to plans in the past may be a prudent and desirable investment today." (F-Squared Retirement)  

Tax Return Deadline, How to Get an Extension, and What to Consider for Your Estimated Taxes in the Year Ahead
"[T]his tax season has the potential to be more confusing than most if you sold any stock last year. Issues are especially likely to arise with the cost basis as reported on Form 1099-B and with the tax-return reporting on Form 8949 and Schedule D." (myStockOptions.com)  

TRI-AD Offers AdvicePlus to Retirement Plan Participants
TRI-AD

ACLI Supports National Retirement Planning Week
American Council of Life Insurers

MassMutual Retirement Services Unveils Enhanced RetireSmart Participant Website
MassMutual Retirement Services

Planning for Retirement Can Lead Americans Toward A Financially Secure Future
Alliance Benefit Group of Illinois

PrimePay Taps ERISA Attorney Mitch Geiger to Help Clients Ensure ACA Compliance
PrimePay

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