Retirement Plans

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    A number of federal laws govern employment-based retirement plans, including the Employee Retirement Income Security Act (ERISA), the Pension Protection Act of 2006 (PPA), and the Economic Growth and Tax Relief Reconciliation Act of 2001. Qualified Retirement Plans Qualified retirement plans are those that meet the statutory and regulatory...

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    Guidance on retirement plan fee disclosure rules released The U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) has issued guidance meant to help plan administrators and service providers comply with the requirements of new rules improving the transparency of fees and investment expenses in retirement plans....
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    Many full-time employees lack long-term disability insurance Around one-third (33%) of full-time workers do not have long-term disability insurance, according to a study by the U.S. business group of Sun Life Financial Inc. The study also revealed that 38 percent of employees whose employer gave them the option of paying for group long-term...
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    Recently, the Labor Department issued final regulations that require service providers to provide initial fee disclosures to plan fiduciaries by July 1 and to participants by August 30.  With these deadlines in place, it's crucial for you to know how to prepare, manage, and disseminate the required new information. Participate in this...
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    DOL extends dates on retirement plan fee disclosure rules The U.S. Department of Labor (DOL) has issued a final regulation under the Employee Retirement Income Security Act (ERISA) to extend and align the applicability dates for its retirement plan fee disclosure rules. The DOL published an interim final regulation in July requiring covered...
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    By Alison Patel McAfee & Taft A 401(k) plan must be operated in accordance with the terms of its plan document, including the plan’s definition of “compensation.” Unfortunately, compensation definitions can be extremely complicated, and many plans use different definitions of compensation for different purposes. Because...
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    Each year, HR Hero and HRLaws survey readers about their organizations’ benefits packages. Although much has been said about the effects of health care reform on employer-based health insurance during the last year, the other benefits that organizations are offering their employees — flex time, telecommuting, child-care assistance,...
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    By Lorraine Yeomans Unless you’ve been vacationing on a remote island for the last few weeks, you are well aware of the Wisconsin labor union protests. The protests began when Wisconsin Governor Scott Walker proposed legislation that would limit public labor union powers and state employee benefits and raged on for weeks. The Wisconsin...
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    By Douglas R. Chamberlain Sulloway & Hollis, P.L.L.C. In 1998, Congress introduced the Roth IRA as a new way to save for retirement. In 2006, the Roth concept was extended to 401(k) plans. From the beginning, taxpayers have been allowed to convert their traditional IRAs to Roth IRAs, but tax costs and restrictions limited the appeal of...
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    Obama supports allowing states to opt out of parts of the PPACA While addressing the National Governors Association, President Barack Obama recently endorsed legislation that would allow states to opt out of certain controversial provisions of the Patient Protection and Affordable Care Act (PPACA). Under the PPACA, in 2017, states will be able to...
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