|05/29/2012||DOL 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.
|05/29/2012||DOL 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.
|05/23/2012||IRS 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.
|05/23/2012||EBSA 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
|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
|05/21/2012||EBSA 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.
|05/17/2012||June 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).
|05/09/2012||DOL 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.
|05/08/2012||DOL'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.
|05/07/2012||DOL 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.