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BY Ted Godbout 12/26/2017
Before heading out for the holidays, President Trump on Dec. 22 signed into law (H.R. 1/P.L. 115-97) the most significant overhaul of the federal tax code since the Tax Reform Act of 1986.The $1.456 trillion net tax cut formerly known as the Tax Cuts and Jobs Act delivers major tax relief to...
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BY Ted Godbout 12/26/2017
The Pension Benefit Guaranty Corporation has expanded its missing participants program to terminated 401(k) and other plans in an effort to make it easier for people to locate their retirement benefits after their plan terminates.The final rule, which will be published in the Dec. 22 Federal...
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BY NAPA Net Staff 12/26/2017
Before heading out of town for the Christmas holiday, the Senate managed to make some key regulatory agency confirmations.By voice vote on Dec. 21, the Senate approved Preston Rutledge to be assistant secretary of Labor for the Employee Benefits Security Administration. Rutledge, whose nomination...
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BY Ted Godbout 12/21/2017
After facing a number of trials and tribulations as it made its way through the legislative process, Congress did, in fact, approve landmark tax reform legislation on Dec. 20, clearing the measure for President Trump’s signature.A minor holdup occurred Dec. 19, when the Senate parliamentarian ruled...
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BY Nevin E. Adams, JD 12/21/2017
Last year we wondered “Is a Wonderful Life’s Christmas Story Love Actually a Die Hard Christmas Vacation?” What’s topping NAPA Net readers’ holiday favorites this year?We had just over 60 options for readers to choose from, and yet fewer than half drew any support at all (including classics like...
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BY NAPA Net Staff 12/21/2017
In his most recent blog post on the fiduciary regulation, Fred Reish notes a specific carve-out to the fiduciary definition – one that allows recordkeepers to provide lists of the investments available on their platforms that satisfy certain criteria specified by the plan sponsor; for example,...
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BY Nevin E. Adams, JD 12/21/2017
Yes, we know it’s only Thursday, but it’s our Friday. And if you think you’ve had a bad week, just remember: It could have been worse. Check out what happened to these guys (and gals)…In La Crosse, Wisconsin, Randy Bolstad called 911 one recent Saturday afternoon to say he had lost money in the...
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BY NAPA Net Staff 12/20/2017
Participants dipping into retirement savings early and suspending contributions to their 401(k) plans is projected to reduce their retirement savings by 14% on average, new analytics from MassMutual show.The impacts include delayed retirements and higher employer costs for salaries and benefits as...
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BY Ted Godbout 12/20/2017
One year after the SEC’s money market fund reform rules went into effect, there appears to be a sizable shift away from MMFs towards stable value funds as a capital preservation option in DC plans.Just over half of plan sponsors (52%) now offer MMFs as a capital preservation option, down from 62%...
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BY Ted Godbout 12/20/2017
Congressional Republicans and President Trump are on the verge of enacting broad-based tax reform legislation once the House of Representatives approves the legislation for the second time in two days.The House must again approve the Tax Cuts and Jobs Act (H.R. 1) after the Senate was forced to...
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