NAPA

Business Development - Pension Admin
The Pension Studio
in FL

Account Manager
Cammack Retirement Group
in NY

Senior Consultant/Operations Manager
United Retirement Plan Consultants
in TX

Director of Member Relations - Key Accounts
National Association of Plan Advisors (NAPA)
in DC, VA

Sr. Associate - Compensation Consultation
Verisight, Inc.
in IL, MN, WI

Office Manager
The Angell Pension Group, Inc.
in ANY STATE

Client Relationship Manager
Goldleaf Partners
in MO

Senior Benefits Specialist
Comcast Cable
in NY

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Wellness Programs After Health Care Reform: Compliance Checkup for Employers and Advisors
February 26, 2014 WEBCAST
(Thomson Reuters / EBIA)

Federally-facilitated Small Business Health Options Program (FF-SHOP) Series II
March 4, 2014 WEBCAST
(Centers for Medicare & Medicaid Services (CMS))

Earned Income: Computing Compensation for the Self-employed
March 20, 2014 WEBCAST
(SunGard Relius)

Focused Topics Web Series, 12 new one-hour sessions, March - June
March 24, 2014 WEBCAST
(SunGard Relius)

Pharmacy Coverage on Public Exchanges: How Plans Can Ensure Access While Controlling Costs
March 27, 2014 WEBCAST
(Atlantic Information Services, Inc)

How to Prepare for OCR Enforcement Actions
May 1, 2014 WEBCAST
(Clearwater Compliance)

HIPAA Privacy & Security
May 23, 2014 in MN
(Thomson Reuters / EBIA)

View All Webcasts and Conferences

From the IRS: SIMPLE IRA Plan Checklist and Fix-It Guide (PDF)
26 pages. Includes a chart showing how to identify, fix and avoid common mistakes, with detailed explanations of plan operations. Excerpt: "[E]very year it is important that you review the requirements for operating your Savings Incentive Match Plan for Employees of small employers (SIMPLE) IRA plan.... [If] you answered 'no' to any of the above questions, you may have a mistake in the operation of your SIMPLE IRA plan. [T]his list is only a guide to a more compliant plan, so answering 'Yes' to each question may not mean your plan is 100% compliant. Many mistakes can be corrected easily, without penalty and without notifying the IRS." (Internal Revenue Service)

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Self-Directed IRAs: IRS and DOL Rules
"Self-direction of IRAs is not new but it has become more common as a portfolio diversification strategy because account owners can purchase a wide variety of assets in their IRAs. The advantages to a self-directed IRA include the following: [1] Access to a wide range of alternative investments, [2] Opportunity to invest in what you know and understand, and [3] The ability to diversify your portfolio to protect against market volatility and inflation. However, the account owner of a self-directed IRA must be careful not to run afoul of the self-dealing rules or the prohibited transaction rules[.]" (EisnerAmper)

Text of 11th Circuit Opinion: Statute of Limitations is Tolled at Time of Selection of Challenged Investment Funds, Not with Ongoing Retention of Those Funds (PDF)
"[We] therefore reject [plaintiff] Fuller's argument that the continued failure to heed warnings of the funds' low performance and high fees or to seek out such information constitutes a distinct, cognizable breach separate from the alleged breach that occurred at selection. Rather, we conclude that the Committee Defendants' failure to remove the STI Classic Funds was simply a failure to remedy the initial breach.... Fuller does not allege that, after the STI Classic Funds' selection, the funds' performance declined, the funds' advisory fees increased, or a new conflict of interest arose. Thus ... we decline to decide whether the Committee Defendants had an ongoing duty to remove imprudent investment options from the Plan in the absence of a material change in circumstances." [Fuller v. SunTrust, No. 12-16217 (11th Cir. Feb. 26, 2014)] (U.S. Court of Appeals for the Eleventh Circuit)

Fifth Third Bank Files its Brief in the Supreme Court
"The Petitioner's brief -- arguing in favor of a presumption of prudence, strictly applied at the motion to dismiss stage and overcome only when 'extraordinary circumstances' have been adequately alleged -- focuses on three core arguments: [1] the text of ERISA Section 404, [2] trust law, and [3] Congress's encouragement of employee ownership." [ Fifth Third Bancorp v. Dudenhoeffer , petition for certiorari filed Dec. 2012; oral argument scheduled for April 2, 2014] (James E. Arnold & Associates, LPA)

U.S. Tax Court Changes the Game on IRA Rollovers
"It does not appear that the taxpayer cited the IRS's proposed regulation as authority for its position. It remains unclear why the IRS chose this time and this taxpayer to assert a position that runs contrary to more than 30 years of its own issued guidance. However, unless the taxpayer chooses to appeal this decision and is successful in having the decision overturned, IRA owners are now on notice that the IRA rollover game has changed." [ Bobrow v. Commissioner , T.C. Memo. 2014-21 (Jan. 28, 2014)] (McGladrey)

Are Some People Rolling Into IRAs in Order to Make Tax-Advantaged Withdrawals? (PDF)
"[A]mong traditional IRAs that received a rollover, 21.9 percent also had a withdrawal, and of those traditional IRAs that experienced a withdrawal, 9.4 percent also received a rollover. Moreover, the percentage of those with a rollover that also had a withdrawal increased with the owner's age ... from 16.1 percent for those owned by younger-than-50-year-olds to 29 percent for those age 60-69.... [T]here may be tax reasons to first rollover from a 401(k)-type plan to a traditional IRA, and then to take a withdrawal from the IRA. As an example, a withdrawal from a traditional IRA taken before age 59-1/2 for a first-time home purchase ($10,000 maximum) is not subject to the 10 percent early withdrawal penalty that an identical withdrawal for this purpose from a 401(k)-type plan would be." (Employee Benefit Research Institute [EBRI])

Breaking the 4% Rule
"A dynamic model adapts withdrawal rates and asset allocations in response to changes in economic and market environments and shifts in personal circumstances. This approach appears to offer greater probability of retirement funding success by measuring the amount of overall satisfaction retirees derive from their withdrawals. Understanding the emotional aspects of investing can help draw meaningful -- if at times counterintuitive -- conclusions about optimal retirement income strategies. Case studies suggest the dynamic framework provides a potentially more even balance between generating and withdrawing enough from portfolio assets to maintain sustainable post-retirement living standards, while avoiding the risk of running out of money." (J.P. Morgan Asset Management)

Trends in Marriage and Work Patterns May Increase Economic Vulnerability for Some Retirees
"[S]pouses may receive retirement and survivor income through Social Security and some employer-sponsored pension plans. Many of the federal requirements governing these benefits were developed at a time when family structures, work patterns, and pensions were very different from what they are today.... GAO examined: (1) the trends in and status of marriage and labor force participation in American households, (2) how those trends have affected spousal benefits and retirement savings behavior within households today, and (3) the implications of these trends for future retirement security." [Published Jan 15, 2014; publicly released Feb 26, 2014.] (U.S. Government Accountability Office)

Actuarial Aspects of Raising the Social Security Retirement Age (PDF)
"Benefits of Raising the Retirement Age: Strengthens Social Security ... Compensates for increased longevity ... Preserves the current benefit formula ... Increases labor force participation ... Preserves intergenerational equity." (American Academy of Actuaries)

Mercer U.S. Pension Buyout Index, January 2014
"During January ... the cost of purchasing annuities from an insurer remained level at 108.5% of the accounting liability. The economic cost of maintaining the liability increased slightly, from 108.6% to 108.7% of the balance sheet liability." (Mercer)

Cypen & Cypen Newsletter, February 27, 2014
Article titles include: Arizona supreme court declares suspended COLAs unconstitutional; Public sector plans -- objectives and principles for funding; and ProtectSeniors.Org surveys retirees. (Cypen & Cypen)

Investment Advisors Respond to Report by Yale Professor
"In his attempt to drum up outrage about high fees in 2014, [Yale Law School professor Ian Ayres] bends 2009 fee data -- without an analysis of the quality of services being paid for by those fees or the complexity of plan design -- to ignore the fact that, since 2011, more than 75% of companies have reduced 401(k) plan expenses ... [T]he professor even acknowledges that 'putting untrained workers in charge of managing their retirement portfolios comes at a significant cost.' That, professor, is why their plans give them the option of paying for professional advice. Advisors can help minimize that 'significant cost.'" (National Association of Plan Advisors [NAPA])

Multiemployer Pension Plans at Risk Unless Congress Acts
"In addition to the recommendations from the [National Coordinating Committee for Multiemployer Plans], the Chamber believes that additional reforms are needed to address employer concerns. For example, we recommend that limitations be placed on the amount of withdrawal liability that an employer can assume....[M]any of our members [have received] estimates of withdrawal liability that exceed the net worth of the company. Clearly, this is an outcome that was never contemplated when withdrawal liability was implemented and should be rectified." (U.S. Chamber of Commerce)

The Perceived Value of Benefits Among Today's Working Americans
72 pages. Excerpt: "[T]he majority of workers do not place a high value on benefits. So a key conclusion is that there is a tremendous opportunity to increase workers' satisfaction with their benefits and help them feel more confident about benefits decisions. It is also evident that American workers have not fully recovered from the financial crisis of 2008. With a focus on making ends meet, their financial security gap has widened as they struggle to give longer-term financial needs the attention they deserve. So the imperative to help employees take advantage of benefits that increase financial protection is perhaps greater than ever before." (Guardian Life Insurance Company of America)

Tax Reform Draft Released by Ways and Means May Serve as Model for Future Employee Benefit Tax Law Changes (PDF)
"The plan proposes significant changes to the tax rules for employee benefits, which raise revenue to pay for reductions to tax rates and other tax cuts. The plan is highly unlikely to become law this year. However, it's possible that the provisions that raise revenue will be used in the future to offset federal spending and deficits even in the absence of full tax reform." [Article includes a detailed discussion of employee benefits provisions.] (Buck Consultants)

Republican Tax Overhaul Would Come at Cost of Hundreds of Credits, Deductions
"There would be no more personal exemptions for you, your spouse and your dependents; no more credits for child care; no more deductions for medical bills or for state and local taxes.... And the plan would cut in half the amount of money most people can put away tax-free for retirement, forcing additional savings into Roth IRAs, where contributions are subject to immediate taxation.... Camp's prospects for passing any part of his plan before he gives up his chairmanship early next year were dismissed as exceedingly dim." (The Washington Post; subscription may be required)

Section-by-Section Summary of Republican-Proposed Tax Reform Act of 2014 (PDF)
Internal Revenue Code changes related to retirement plans include elimination of the ability to establish new SEPs or new SIMPLE 401(k)s; elimination of deductible contributions to IRAs; modification of the required distribution rules; elimination of ability to undo a Roth IRA recharacterization; reduction in minimum age for allowable in-service distributions; modification of rules governing hardship distributions; and inflation adjustments for qualified plan benefit and contribution limitations. Changes related to welfare benefits include repeal of education assistance plans, termination of deductions and income exclusions for contributions to Archer Medical Savings Accounts, and a new limitation on the exclusion of employer-provided housing from an employee's income. (Committee on Ways and Means, U.S. House of Representatives)

GreatBanc Trust To Acquire North Star Trust GreatBanc Trust Company

IRI Issues Statement after Tax Reform Discussion Draft Unveiled Insured Retirement Institute (IRI)

ERIC Expresses Concern with Ways & Means Committee Chairman Camp?s Tax Reform Discussion Draft ERIC (ERISA Industry Committee)

Just the ?Essentials?: New Academy Series Makes Complex Public Policy Issues Clear American Academy of Actuaries

The 2014 PLANSPONSOR Retirement Plan Adviser of the Year Finalists PLANSPONSOR

Chairman Camp?s Proposal Raises Concerns for Retirement Security Plan Sponsor Council of America (PSCA)

Slaughter 401(k) Rebrands as RPS Retirement Plan Advisors RPS Retirement Plan Advisors

New Toolkit Educates Workers About Advantages of Delaying Social Security Benefits National Academy of Social Insurance

Brian Graff, ASPPA?s Executive Director/CEO Comments on Rep. Camp's Tax Reform Proposal American Society of Pension Professionals & Actuaries (ASPPA)

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