Addressing the 2020 NAPA D.C. Fly-In Forum July 21, a key Department of Labor official confirmed that the DOL’s deadline relief provided in response to the Coronavirus pandemic also applies to... Read More
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Regulatory Compliance
BY Ted Godbout | 7/22/2020
BY Ted Godbout | 7/16/2020
A group of Senate Democrats is calling on the Labor Department to withdraw its proposal clarifying the investment duties of ERISA plan fiduciaries in relation to environmental, social and governance... Read More
BY Ted Godbout | 7/15/2020
Noting that the Department of Labor previously held several days of hearings under the former fiduciary rule, the ranking Democrat on the Senate committee with primary jurisdiction over ERISA-related... Read More
BY NAPA Net Staff | 7/6/2020
Claiming that the 30-day comment period is “less than half of what similar proposals were granted in the past,” Democratic congressional leaders want more time to comment on the fiduciary rule.... Read More
BY John Iekel | 6/29/2020
As plans contemplate changes to safe harbor plans in the midst of the COVID-19 pandemic, the IRS has provided some guidance and relief for certain plans. As plans contemplate changes to safe... Read More
BY Nevin E. Adams, JD | 6/24/2020
Noting its concern “that the growing emphasis on ESG investing may be prompting ERISA plan fiduciaries to make investment decisions for purposes distinct from providing benefits to participants and... Read More
BY Ted Godbout | 6/23/2020
For those who want to take advantage of the waiver provisions under the CARES Act, new guidance from the IRS extends the rollback period for required minimum distributions already taken in 2020.... Read More
BY Ted Godbout | 6/22/2020
The IRS has extended relief to plan participants whose spouses are laid off and who take Coronavirus-related distributions or loans from their retirement accounts, as well as provided new safe... Read More
BY John Iekel | 6/11/2020
The American Retirement Association has provided the Department of Labor with some comments on dealing with potential issues regarding Pooled Employer Plans and Pooled Plan Providers... Read More
BY NAPA Net Staff | 6/3/2020
The Internal Revenue Service has provided temporary administrative relief to help certain retirement plan participants or beneficiaries who need to make participant elections by allowing flexibility... Read More
BY Nevin E. Adams, JD | 5/26/2020
Long weekend notwithstanding, chances are you’ve not yet delved deeply into the Labor Department’s final rule on default electronic disclosure. Regardless, here are some things you might have missed... Read More
BY Ted Godbout | 5/21/2020
While next year may seem like a ways off, the Internal Revenue Service has just published the 2021 inflation-adjusted amounts for health savings accounts.
In Rev. Proc. 2020-32, the IRS announced... Read More
BY Nevin E. Adams, JD | 5/21/2020
Acknowledging that technology has made significant strides over the past two decades—and that many Americans are working remotely during the COVID crisis—the Labor Department has unveiled a new... Read More
BY John Iekel | 5/18/2020
The American Retirement Association in a May 11 letter to Eric Slack, Director of the IRS Office of Employee Plans, recommended improvements in the interim amendment process for pre-approved... Read More
BY Ted Godbout | 5/18/2020
Amid the ongoing upheaval caused by the COVID-19 pandemic, the self-regulatory organization is reminding broker-dealers and associated persons to be cautious of the increased risks for fraud.... Read More
BY Ted Godbout | 5/13/2020
The Iowa Insurance Division on May 11 finalized a rule requiring annuity agents to act in the best interest of their customers.
First proposed in February, the rulemaking follows efforts by... Read More
BY Allison Wielobob | 5/7/2020
Just when you thought the rules around COVID-19 distributions couldn’t get any more complicated…
For many households, “COVID-19 distributions” from qualified plans and IRAs may be a welcome... Read More
BY Martin L. Pippins | 5/4/2020
Recent guidance clarifies that retirement contributions for unincorporated sole proprietors are excluded from payroll costs in calculating the maximum loan amount under the Paycheck Protection... Read More
BY Ted Godbout | 5/4/2020
The IRS had some unwelcome news for plan advisors and small businesses that may be taking advantage of forgivable loans under the Paycheck Protection Program.
In short, the IRS is... Read More
BY Ted Godbout | 5/1/2020
To clear up any confusion, the Securities and Exchange Commission has advised that under certain circumstances, registered investment advisors must disclose forgivable loans they have received under... Read More
BY Nevin E. Adams, JD | 4/29/2020
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has issued “deadline relief and other guidance” related to the impact of the Coronavirus outbreak—including expanded “... Read More
BY Ted Godbout | 4/22/2020
The industry regulator announced April 20 that it is postponing all in-person arbitration and mediation proceedings scheduled through July 3, 2020 because of the COVID-19 pandemic.
For those who... Read More
BY Robert Richter | 4/20/2020
What could getting to the chocolate center of a hard candy have to do with an expanded loan repayment period? Read on.
Some of you (older) readers might remember the Tootsie Roll Pop ad where a... Read More
BY Nevin E. Adams, JD | 4/17/2020
At a time when much of the nation is working remotely, the Labor Department’s final rule on electronic disclosures has been delivered to the White House’s Office of Management and Budget for review... Read More
BY Ted Godbout | 4/15/2020
While the SEC pushes forward with implementing Reg BI, the plaintiffs in a pending suit counter that the agency has failed to address their arguments that the rule gives broker-dealers an unfair... Read More
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