Craig Hoffman

ARA’s Advocacy Efforts Pay Off – Forfeitures May Be Used to Fund QNECs and QMACs

By Craig Hoffman | 7/23/2018

In a development sure to be appreciated by plan sponsors, the IRS has released final regulations allowing for the use of forfeitures to fund safe harbor contributions, specifically QNECs and QMACs.The issue has been resolved after many years of advocacy by the American Retirement Association’s... READ MORE

Tax Reform Proposal Could Undermine Incentives for Small Business Plans

By Craig Hoffman | 9/28/2017

An outline of the Republican tax reform plan released Sept. 27 includes a proposal to cap the tax rate on small business “pass-through” income at 25%.More than 90% of businesses are organized as pass-through entities (i.e., partnerships, S corps, and small business limited liability corporations),... READ MORE

New DOL Fiduciary Guidance Mirrors ARA/NAPA GAC’s 408(b)(2) Recommendation

By Craig Hoffman | 8/4/2017

The Labor Department has issued a new set of FAQs on the fiduciary regulation that embrace the recommendations made by the ARA/NAPA Government Affairs Committee (GAC) in a recent comment letter.To recap, the 408(b)(2) regulation requires certain service providers to ERISA-governed retirement plans... READ MORE

Participant Benefit Statements May Be Changing

By Craig Hoffman | 11/18/2014

Just when plan administrators were beginning to feel comfortable with their procedures for participant benefit statements, changes are in the offing. The Department of Labor’s most recent guidance plan includes a listing for a proposed regulation due out in January 2015. This proposal is expected... READ MORE

Supreme Court to Hear Tibble Plan Fee Case

By Craig Hoffman | 10/2/2014

The U.S. Supreme Court has agreed to review the Tibble v. Edison Int’l case, it was announced Oct. 2. One of the many “excessive fee” cases being pursued through the federal court system, Tibble arose in California and was the subject of a 9th Circuit Court of Appeals decision last year. The... READ MORE

‘Guide’ Must Accompany 408(b)(2) Disclosures, DOL Proposes

By Craig Hoffman | 3/12/2014

The Department of Labor released its long-promised proposal to require that a guide or summary accompany a covered service provider’s 408(b)2) disclosures on March 11. The final 408(b)(2) regulations, which became effective July 1, 2012, left this question open, with the DOL promising to revisit... READ MORE

2014 Guidance Plan Indicates a Busy Year Ahead for DOL and the NAPA Government Affairs Committee

By Craig Hoffman | 2/1/2014

On a semi-annual basis, the Department of Labor publishes a work plan for the guidance they intend to issue in the coming months. The plan is just that, a “plan.” There are no guarantees that the timetables and even the regulatory initiatives might not change during the year. Nevertheless, these... READ MORE

DoL Bulletin Provides Six-Month Delay on Second Round of Participant Fee Disclosure

By Craig Hoffman | 7/23/2013

On July 22, 2013, the Department of Labor (“DOL”) provided relief to plan administrators in the form of Field Assistance Bulletin (“FAB”) 2013-02. The FAB announces a transitional enforcement policy regarding the due date for the “second round” of participant disclosures under the new 404(a)(5)... READ MORE

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Craig Hoffman

NAPA's 401(k) Rollover Specialist (k)RS Credential

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