GAO REPORT ON 401(K) PLANS: Improvements Can Be Made to Better Protect Participants in Managed Accounts

Monday, August, 11, 2014 / Published in Employee Benefit Plans, News and Press Releases, Retirement - 401(k), 403(b), Uncategorized
The U.S. Government Accountability Office (“GAO”) publicly released on July 29, 2014 a report on managed accounts in defined contribution plans. Below is the summary of the report (GAO-14-310). Why GAO Did This Study 401(k) plan sponsors have increasingly offered participants managed accounts— services under which providers manage participants’ 401(k) savings over time by making investment and

DFVC Program Provides Relief Only if Applicable Form 8955-SSA is Filed For Year at Issue

Monday, May, 12, 2014 / Published in Employee Benefit Plans, Forms and Procedures, News and Press Releases
The IRS has issued Notice 2014-35 which provides relief from late-filing penalties from the annual reporting requirements under  Form 5500 series with respect to employee benefit plans. Under the notice, the IRS will not impose penalties relating to the filing of Form 5500, Form 5500-SF, and Form 8955-SSA or the filing of required actuarial reports with

US Labor Department Proposes that Service Providers Give Employers a Guide for 401(k) Fee Disclosures

Wednesday, March, 12, 2014 / Published in Employee Benefit Plans, Retirement - 401(k), 403(b)
The U.S. Department of Labor on March 11, 2014 requested public comments on a proposed rule that would require pension plan service providers to furnish employers and other plan fiduciaries with a guide to assist them in navigating fee disclosure documents. Read More

DOL Office of Inspector General: EBSA Needs to Provide Additional Guidance

Sunday, October, 20, 2013 / Published in Forms and Procedures, Policy Updates
The AICPA Employee Benefit Plan Audit Quality Center recently issued a summary of the DOL Office of Inspector General’s report: EBSA Needs to Provide Additional Guidance and Oversight to ERISA Plans Holding Hard-to-Value Alternative Investments. Read More

DOL Seeks Input on Lifetime Income Illustrations Plan

Wednesday, May, 08, 2013 / Published in News and Press Releases, Retirement - 401(k), 403(b)
As per May 7, 2013 article by Melanie Waddell of AdvisorOne. “We are looking for the best ideas on how to show people what their lump-sum retirement savings look like,” says Borzi. Read More