Updates

 
05/29/2012DOL Weighs in on 403(b) Paired Plan
 May 29, 2012 – Unless otherwise exempted, IRC Sec. 403(b) retirement plans maintained by tax-exempt IRC Sec. 501(c)(3) organizations must meet the requirements of Title 1 of ERISA.  These requirements include certain nondiscrimination testing, and filing Form 5500, Annual Return/Report of Employee Benefit Plan, and its attachments, including an audit, if this applies.   Read More
05/29/2012DOL Guidance on Multiple Employer Plans
 May 29, 2012 – Multiple employer plans (MEPs), and requirements for establishing and operating them, have recently become a focal point in the retirement industry. Some MEPs, which consist of two or more employers sharing a common plan document and plan trust, seek to operate essentially as a single employer plan, potentially easing plan administration burdens and certain liabilities for participating employers.   Read More
05/23/2012IRS Initiative to Identify Plans for Audit
 May 23, 2012 – Speaking at a retirement industry regional conference this week, the IRS’s Monika Templeman described an IRS initiative intended to identify retirement plans most likely to deserve audit scrutiny. The IRS is expanding a regional pilot program to national scale, focusing on plans with more than 2,500 participants.   Read More
05/23/2012EBSA to Reopen Comment Period on TDF Rules
 May 23, 2012 – The Department of Labor’s Employee Benefits Security Administration (EBSA) is scheduled to publish in Thursday’s Federal Register (MAY 24) a notice reopening a public comment period on target date funds (TDFs) and similar investments in employer-sponsored retirement plans.   Read More
05/22/2012 ASCENSUS' STRONG BRAND LEADS TO NEW PRODUCT CONTINUUM
 With more than 30 years of industry experience, Ascensus is a leading provider of high-quality retirement plan solutions for organizations of all sizes. Through its 1,000+ highly trained associates and one of the largest ERISA consulting practices in the U.S., Ascensus provides recordkeeping and administrative services to over 27,000 defined contribution plans and administers over 1.5 million IRAs   Read More
05/21/2012EBSA Corrects Recent Disclosure FAQs
 May 21, 2012 – The Department of Labor Employee Benefits Security Administration (EBSA) has issued a correction to Field Assistance Bulletin (FAB) 2012-02, which contain FAQs on investment, fee, and expense disclosures in employer-sponsored retirement plans. The EBSA discovered an error in Question 19 and has corrected it the FAB.   Read More
05/17/2012June 2012 Interest Rates
 May 17, 2012 – The IRS has released the applicable federal interest rates for June 2012 as included in Revenue Ruling 2012-15. These rates are used for such purposes as calculating retirement arrangement distributions that meet the substantially equal periodic payment requirements of IRC Sec. 72(t)(2)(A)(iv).   Read More
05/09/2012DOL Emails Target Form 5500 “Large Plans”
 May 9, 2012 – The Department of Labor, Employee Benefits Security Administration, is contacting many retirement plans that file Form 5500, Annual Return/Report of Employee Benefit Plan, as “large plans” (100 or more participants), and reminding them of responsibilities for reporting information on Schedule C, Service Provider Information.   Read More
05/08/2012DOL's New FAQs Are Step in Right Direction
 The Department of Labor’s Employee Benefits Security Administration (EBSA) has posted at its web site Field Assistance Bulletin (FAB) 2012-02, which contains frequently-asked-questions (FAQ) intended to assist plan administrators and covered service providers in complying with final regulations on investments, fees and expenses in employer sponsored retirement plans.   Read More
05/07/2012DOL Issues FAQs on Plan Investments, Fees, Expense Disclosures
 May 7, 2012 – The Department of Labor’s Employee Benefits Security Administration (EBSA) has released Field Assistance Bulletin (FAB) 2012-02, which contains frequently-asked-questions (FAQs) intended to assist plan administrators and covered service providers in complying with final regulations on investments, fees, and expenses in employer-sponsored retirement plans.   Read More
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