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BY John Sullivan 4/17/2024
Momentum is increasing in Congress to repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).
In March, Reps. Garret Graves (R-La.) and Abigail Spanberger (D-Va.) called on the House Ways and Means Committee to hold a markup on their bipartisan bill, H.R. 82, the ...
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BY John Iekel 4/17/2024
The IRS on April 16 issued guidance on certain specified required minimum distributions (RMDs) for 2024. It adds that the final regulations it plans to issue related to RMDs will apply for purposes of determining RMDs for calendar years beginning on or after Jan. 1, 2025.
The guidance is...
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BY Jenny Kiffmeyer, JD 4/17/2024
ERISA consultants at the Retirement Learning Center (RLC) Resource Desk regularly receive calls from financial advisors on a broad array of technical topics related to IRAs, qualified retirement plans and other types of retirement savings and income plans, including nonqualified plans, stock...
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BY Ted Godbout 4/16/2024
Vanguard and Ascensus have announced a major deal that could potentially shake up the small-business retirement plan market.
According to the April 16 announcement, Ascensus has entered into a definitive agreement to acquire Vanguard's Individual 401(k), Multiple Participant SEP (Multi-SEP), and...
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BY Ted Godbout 4/16/2024
Ongoing economic challenges are changing how Americans are thinking about retirement planning, with nearly 6 in 10 pre-retirees (57%) believing that inflation poses the most immediate challenge to their retirement portfolios over the next 12 months.
And this stress apparently is shifting the...
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BY Nevin E. Adams, JD 4/16/2024
Of all the promising provisions in the SECURE 2.0 Act of 2022, one of the most expensive (as the federal government does math, anyway) is likely to be one of the most challenging to implement.
It’s not effective till 2027, so there’s still some time to figure it out—but I’m talking about the new...
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BY John Iekel 4/15/2024
Collective investment trusts (CITs) are a greater focus of attention and activity in the wake of SECURE 2.0, as a recent Congressional Research Service (CRS) report highlights.
In “Pensions and Individual Retirement Accounts (IRAs): Investment Issues,” the CRS provides an overview of pension...
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BY Ted Godbout 4/15/2024
The Department of Labor (DOL) has released a proposed information collection request (ICR) to help implement a forthcoming lost-and-found database to assist individuals with locating missing retirement accounts, but the operation appears to have hit a slight bump in the road.
Section 303 of the...
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BY Nevin E. Adams, JD 4/15/2024
Evidence of a prudent process has regularly proven to be “enough” to win at trial—but a new case found it wasn’t enough to forestall going to trial—and this from a federal judge who called the entire summary judgment exercise a “monumental waste of time.”
“Here, where there are qualified experts...
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BY John Sullivan 4/12/2024
What do plan sponsors want? What products and services do they feel are right for their participants? Importantly, what do they expect from the advisors with whom they engage?
These questions and more were answered at an afternoon general session at the recently completed NAPA 401(k) Summit in...
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