ASPPA

Client Service Representative - Retirement Department
NFP Corporate Services [MN] Inc.
in MN

Defined Contribution Analyst 2
Wells Fargo
in TN

Actuary - Retirement Plan Consulting Group
Lurie Besikof Lapidus & Co
in MN

Retirement Plan Administrator
Lurie Besikof Lapidus & Co
in MN

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Top 10 Health Plan Design Traps for 2016
August 7, 2015 WEBCAST
(Littler Mendelson)

Intermediate IRA Training Part 1
August 18, 2015 WEBCAST
(Wolters Kluwer)

Health Savings Account Training
August 19, 2015 WEBCAST
(Wolters Kluwer)

Coping with the Realities of GASB 67 and 68
September 9, 2015 WEBCAST
(ASPPA College of Pension Actuaries [ACOPA])

Certificate in Health and Welfare Plans
October 12, 2015 in NV
(International Foundation of Employee Benefit Plans [IFEBP])

West Coast Defined Contribution Conference
October 18, 2015 in CA
(Pensions & Investments)

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[Official Guidance]

Text of Corrections to IRS Proposed Regs on Suspension of Benefits under the Multiemployer Pension Reform Act
"This document contains corrections to a notice of proposed rulemaking ... published in the Federal Register on Friday, June 19, 2015 (80 FR 352 62). The proposed regulations relate to multiemployer pension plans that are projected to have insufficient funds, at some point in the future, to pay the full benefits to which individuals will be entitled under the plans (referred to as plans in 'critical and declining status)." [Additional technical corrections issued here and here.] (Internal Revenue Service [IRS])  

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Multiple Employer Plans Move Into Spotlight
"MEPs were the first item identified in a recent report by the Savings and Investment Bipartisan Tax Working Group of the U.S. Senate Committee in Finance on increasing access to retirement plans.... Significantly wider acceptance of MEPs is unlikely unless employers can be certain that they are able to restrict their fiduciary responsibility to the selection and monitoring of the MEP provider, and no more than that." (Russell Investments)  

Key Trends in 401(k) Plan Behavior and Design
"Employer matches are becoming more customary.... Automatic features continue to drive plan participation.... Employees value a 'do-it-for-me' approach.... Technology plays an important role in the participant experience." (Ascensus)  

Should Plan Sponsors Restrict Access to 401(k) Loans?
"The findings [of a recent study] suggest that how sponsors and their advisors structure loan policy influences how frequently participants access their retirement accounts. Prohibiting loans is not a tactic many sponsors deploy; 90 percent of active participants in 401(k) plans can access their accounts for loans.... About 40 percent of the plans that the researchers looked at allowed at least two loans to be taken out at the same time, and more than 50 percent of participants were in such plans." (Treasury & Risk)  

Navigating Change in the 401(k) Market: Insights for DC Plan Providers and Investment Managers (PDF)
10 pages. "[This report provides] an assessment of [1] plan sponsor priorities for the coming year, including their likelihood to reevaluate their current plan provider and investment menu ... [2] the fee disclosure regulations enacted in 2012 in terms of the impact these regulations are likely to have on plan sponsor behavior going forward ... [3] the potential for provider turnover in the 401(k) market, with special attention paid to the criteria plan sponsors use to evaluate their providers ... [4] the top reasons stated for switching plan providers and dropping investment managers, highlighting the areas that incumbent providers should be prepared to defend and challenger firms may seek to exploit." (Cogent Reports)  

401(k) Pitfalls and Practical Investing Advice for Americans Around That Crucial Age of 50
"Some have suggested that the government raise the 401(k) contribution limits, but doing so won't have an impact on the vast majority of Americans ... To reap the benefits, people will have to work longer, spend less, start setting aside more in their 401(k)s, and maximize their Social Security benefits by waiting longer to take them -- although no one wants to hear that." (Motley Fool)  

Massive Turnover of 401(k) Plan Providers Possible in 2016
"After several months of surveying the people responsible for plan design, the selection of investment managers, and other plan providers, the conclusion from Cogent is pretty clear: complacency is not the friend of providers to 401(k) plans. Half of the sponsors surveyed said a formal plan review is somewhat likely to lead to turnover in a plan provider. Only 36 percent of sponsors said they were sure they would not initiate changes in outside advisors or record keepers." (BenefitsPro)  

What Plan Sponsors Should Know About Changing Providers
"Your provider search will take longer than you think.... A big part of the reason your provider search will take longer than you think ... is you.... (Almost) Everybody wants to change providers on January 1. Everybody can't." (Nevin Adams, for National Association of Plan Advisors [NAPA])  

Beauty Makeovers and the Retirement Industry
"To curry favor with investors who find it hard to differentiate among savings vehicles, savvy sellers are starting to recognize the importance of making the buying process 'fun' and 'lively.' Offering a financial 'beauty makeover' with encouragement about a better future is one way to establish a meaningful dialogue between an advisor and an investor. Being transparent and showcasing multiple products is another strategy." (Pension Risk Matters)  

Three State Pension Plans Support DOL Fiduciary Proposal
"In comment letters submitted to the DOL on its proposal, officials with [CalPERS], Colorado Public Employees' Retirement Association (Colorado PERA) and the New York Common Retirement Fund (CRF), which collectively cover more than 4.2 million participants, said they generally were concerned about the advice their members receive regarding investments outside the plans or rollovers to non-pension investments." (Bloomberg BNA)  

After a Few Years Afloat, Public Pension Plans Start Sinking Again
"[W]hat's shaping up to be a poor year for pension plans could provide ammunition to those who want to change them. That's because last year, new accounting changes took effect that now take investment returns into account when calculating pension plans' funded status.... 'This is going to further call attention to the fragility of these underfunded [plans],' said Peter Kiernan, a public finance lawyer at Schiff Hardin. 'States and cities are saying they're restoring their plans to health and that they've made it through the Great Recession [but] they're being proven wrong.' " (Governing)  

The Retirement Expert Who Got Death Threats for Her Ideas
"Retirement policy wonks don't usually get hate mail. But in 2008, Teresa Ghilarducci, an economics professor at the New School for Social Research, proposed replacing 401(k) plans and their income tax break with a mandated government savings plan for all workers. The blowback ... was so intense that the school's chief of security gave her his cell phone number.... Many retirement experts and myriad online tools suggest aiming for retirement income that can replace 70 to 80 percent of your pre-retirement income. Ghilarducci, who has based her plan on living until 92, is out to replace 100 percent." (Bloomberg)  

Private Employer Costs for Pay and Benefits Rose from June 2014 to June 2015
"Private employer costs for pay and benefits increased 1.9 percent from June 2014 to June 2015. That was about the same as the increase from June 2013 to June 2014. Wages and salaries increased 2.2 percent from June 2014 to June 2015." (U.S. Bureau of Labor Statistics [BLS])  

CEO Pay Ratio Rule: SEC Votes Today on Requiring Companies to Disclose Compensation
"Noting that the pay ratio rule is 'controversial,' Chairman Mary Jo White says at today's session, 'It is the law, and we are required to carry it out.' She added that the rule gives companies discretion in how to interpret the measure. White also called the rule both reasonable and flexible. The commissioners will discuss the rule and then hold a vote. It's the last major piece of business for today's meeting." (National Public Radio)  

Employee Fiduciary Announces Subsidiary: Frugal Financial Delivers Low Cost, Fiduciary-Grade Investment Advice To 401K Plans
Employee Fiduciary, LLC

fi360 and Mid Atlantic Trust Company Establish Integration Relationship
fi360

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