The IRS has updated the information on its website concerning automatic enrollment.  The site provides basic information regarding an employer’s obligations if it decides to offer automatic enrollment and deferrals. It also discusses automatic contribution arrangements, eligible automatic... READ MORE

All that stands between a bill establishing the New Jersey Secure Choice Savings Program and its becoming law is the signature of New Jersey Gov. Phil Murphy (D).  The state Assembly passed the bill, which calls for the establishment of a state-run retirement savings plan for private-sector... READ MORE

Bills before the Oregon Senate would create a statutory responsibility for employers to indicate that they are exempt from participating in OregonSaves, and a penalty for not participating if they are eligible to do so. SB 165 would direct employers to indicate on annual state tax withholding... READ MORE

It’s been said that Millennials, whose influence grows daily, generally don’t like the name their generation has been given. And while much has been written about them, Millennials do share undeniable characteristics — some of which have important implications for retirement plan advisors.... READ MORE

Misunderstanding what the “15th business day” means for purposes of Department of Labor regulations can earn unwelcome attention from the DOL's Employee Benefits Security Administration.The DOL’s participant contribution regulation requires employers of all sizes to transmit employee contributions... READ MORE

Legislation is before the Virginia House of Delegates that would establish the "My Virginia Plan" program, a state-based retirement plan. The bills were prefiled by Del. Luke Torian (D-Dumfries), who introduced them before the new session of the state’s General Assembly began on Jan. 9.H.B. 2431H.B... READ MORE

The Garden State is one step closer to becoming the latest to create a state-run employment plan for private-sector employees whose employers do not offer a retirement plan. The New Jersey Assembly on Dec. 17 passed a bill that would establish such a system.In a 52-24 vote, the Assembly approved A... READ MORE

The American Retirement Association (ARA) in a Dec. 11 letter to Acting IRS Commissioner David Horton has made suggestions regarding the Employee Plans Compliance Resolution System (EPCRS). Namely, the ARA has suggested that the IRS provide additional examples of “significant” and “insignificant”... READ MORE

The IRS on Nov. 29 expanded upon a provision of the hardship withdrawal regulations that it issued earlier in November allowing DC plans to make loans and hardship distributions to victims of Hurricane Michael and Hurricane Florence and to members of their families.The relief means that 401(k)... READ MORE